LPL Financial LLC Raises Stock Position in Guardant Health Inc (NASDAQ:GH)

LPL Financial LLC lifted its stake in shares of Guardant Health Inc (NASDAQ:GH) by 39.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,101 shares of the company’s stock after acquiring an additional 4,245 shares during the quarter. LPL Financial LLC’s holdings in Guardant Health were worth $1,304,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Jennison Associates LLC increased its position in shares of Guardant Health by 301.7% during the second quarter. Jennison Associates LLC now owns 2,753,535 shares of the company’s stock worth $237,713,000 after acquiring an additional 2,068,098 shares during the period. FMR LLC increased its holdings in Guardant Health by 28.3% during the first quarter. FMR LLC now owns 464,612 shares of the company’s stock valued at $35,636,000 after buying an additional 102,483 shares during the period. Nikko Asset Management Americas Inc. purchased a new position in Guardant Health during the second quarter valued at approximately $18,167,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Guardant Health during the second quarter valued at approximately $18,167,000. Finally, Teacher Retirement System of Texas purchased a new position in Guardant Health during the second quarter valued at approximately $14,451,000. 81.40% of the stock is currently owned by institutional investors and hedge funds.

GH has been the topic of several research reports. Zacks Investment Research lowered shares of Guardant Health from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 10th. JPMorgan Chase & Co. raised their target price on shares of Guardant Health from $90.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Canaccord Genuity restated a “buy” rating and issued a $125.00 target price (up from $96.00) on shares of Guardant Health in a research note on Wednesday, August 7th. Finally, Cowen set a $110.00 target price on shares of Guardant Health and gave the company a “buy” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $111.80.

In related news, major shareholder Vision Fund (Aiv M1) Softbank sold 4,900,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $77.00, for a total transaction of $377,300,000.00. Also, Director Stanley J. Meresman sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $76.36, for a total transaction of $763,600.00. Insiders have sold 5,914,867 shares of company stock valued at $478,546,806 in the last three months. Corporate insiders own 13.00% of the company’s stock.

GH traded down $0.10 on Thursday, reaching $73.60. The stock had a trading volume of 32,591 shares, compared to its average volume of 1,118,674. Guardant Health Inc has a 12-month low of $27.04 and a 12-month high of $112.21. The business’s 50-day moving average price is $91.22 and its two-hundred day moving average price is $82.55. The company has a market cap of $6.85 billion and a P/E ratio of -26.30.

Guardant Health (NASDAQ:GH) last released its earnings results on Tuesday, August 6th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.21. The business had revenue of $53.98 million during the quarter, compared to analysts’ expectations of $35.97 million. Guardant Health had a negative net margin of 60.08% and a negative return on equity of 22.93%. The company’s quarterly revenue was up 178.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.75) earnings per share. Analysts predict that Guardant Health Inc will post -1.27 EPS for the current year.

Guardant Health Company Profile

Guardant Health, Inc, a precision oncology company, provides blood tests, data sets, and analytics in the United States and internationally. The company offers liquid biopsy tests for advanced stage cancer, such as Guardant360, a molecular diagnostic test that measures various cancer-related genes; and GuardantOMNI, a broader gene panel, including genes associated with homologous recombination repair deficiency and biomarkers for immuno-oncology applications.

Recommended Story: S&P 500 Index

Institutional Ownership by Quarter for Guardant Health (NASDAQ:GH)

Receive News & Ratings for Guardant Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Guardant Health and related companies with MarketBeat.com's FREE daily email newsletter.