Guardant Health, Inc. (NASDAQ:GH) Shares Sold by IMA Wealth Inc.

IMA Wealth Inc. cut its stake in shares of Guardant Health, Inc. (NASDAQ:GH) by 44.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,205 shares of the company’s stock after selling 13,897 shares during the period. IMA Wealth Inc.’s holdings in Guardant Health were worth $465,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Guardant Health by 1.4% during the third quarter. Vanguard Group Inc. now owns 10,950,230 shares of the company’s stock valued at $324,565,000 after acquiring an additional 146,902 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Guardant Health by 2.9% in the third quarter. The Manufacturers Life Insurance Company now owns 568,148 shares of the company’s stock valued at $16,840,000 after purchasing an additional 16,111 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Guardant Health in the third quarter valued at approximately $1,689,000. Rhumbline Advisers grew its holdings in shares of Guardant Health by 5.8% in the third quarter. Rhumbline Advisers now owns 159,660 shares of the company’s stock valued at $4,732,000 after purchasing an additional 8,688 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Guardant Health by 31.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,211,499 shares of the company’s stock valued at $35,909,000 after purchasing an additional 292,888 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Guardant Health

In related news, insider Kumud Kalia purchased 2,187 shares of the stock in a transaction dated Monday, March 18th. The shares were acquired at an average cost of $17.82 per share, with a total value of $38,972.34. Following the purchase, the insider now directly owns 12,722 shares in the company, valued at approximately $226,706.04. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 6.20% of the company’s stock.

Guardant Health Stock Performance

GH stock traded up $0.19 on Friday, hitting $17.35. The company’s stock had a trading volume of 697,962 shares, compared to its average volume of 2,178,555. The firm has a 50 day moving average of $18.74 and a two-hundred day moving average of $22.88. Guardant Health, Inc. has a 1 year low of $15.81 and a 1 year high of $41.06. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of -4.05 and a beta of 0.87. The company has a current ratio of 6.54, a quick ratio of 6.24 and a debt-to-equity ratio of 7.18.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($1.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.93) by ($0.65). The firm had revenue of $155.05 million during the quarter, compared to analyst estimates of $151.71 million. Guardant Health had a negative net margin of 85.02% and a negative return on equity of 301.94%. Equities analysts predict that Guardant Health, Inc. will post -3.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GH. Canaccord Genuity Group dropped their price objective on shares of Guardant Health from $50.00 to $45.00 and set a “buy” rating for the company in a report on Friday, February 23rd. The Goldman Sachs Group decreased their price target on shares of Guardant Health from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, April 15th. JPMorgan Chase & Co. decreased their price target on shares of Guardant Health from $60.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Guggenheim reiterated a “neutral” rating on shares of Guardant Health in a research note on Friday, April 5th. Finally, Piper Sandler decreased their price target on shares of Guardant Health from $40.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.27.

Guardant Health Profile

Guardant Health, Inc, a precision oncology company, provides blood and tissue tests, data sets, and analytics in the United States and internationally. The company provides Guardant360; Guardant360 LDT; Guardant360 CDx Test; Guardant360 Response Test; Guardant360 TissueNext Test; GuardantINFINITY Test; GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies; GuardantOMNI Test for advanced stage cancer; and GuardantINFORM, an in-silico research platform for tumor evolution and treatment resistance across various biomarker-driven cancers.