Coatue Management LLC decreased its stake in shares of Guardant Health Inc (NASDAQ:GH) by 31.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,574,977 shares of the company’s stock after selling 717,250 shares during the quarter. Guardant Health makes up 1.1% of Coatue Management LLC’s portfolio, making the stock its 26th largest position. Coatue Management LLC owned 1.58% of Guardant Health worth $127,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in GH. CSat Investment Advisory L.P. bought a new stake in Guardant Health during the 2nd quarter valued at about $25,000. First Horizon Advisors Inc. increased its position in Guardant Health by 186.0% during the 1st quarter. First Horizon Advisors Inc. now owns 429 shares of the company’s stock valued at $28,000 after purchasing an additional 279 shares during the period. FinTrust Capital Advisors LLC increased its position in Guardant Health by 1,930.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 406 shares of the company’s stock valued at $28,000 after purchasing an additional 386 shares during the period. Heritage Wealth Advisors increased its position in Guardant Health by 199.0% during the 2nd quarter. Heritage Wealth Advisors now owns 1,175 shares of the company’s stock valued at $29,000 after purchasing an additional 782 shares during the period. Finally, Fifth Third Bancorp purchased a new position in Guardant Health during the 2nd quarter valued at about $52,000. Institutional investors own 84.23% of the company’s stock.
In other Guardant Health news, Director Stanley J. Meresman sold 6,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $80.59, for a total value of $483,540.00. Following the transaction, the director now owns 7,302 shares of the company’s stock, valued at $588,468.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ian T. Clark sold 538 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $81.27, for a total transaction of $43,723.26. Following the completion of the transaction, the director now directly owns 5,181 shares in the company, valued at approximately $421,059.87. The disclosure for this sale can be found here. Insiders sold 1,385,130 shares of company stock valued at $116,545,437 in the last three months. 13.00% of the stock is currently owned by insiders.
Shares of Guardant Health stock traded down $1.86 on Friday, reaching $90.81. The stock had a trading volume of 655,866 shares, compared to its average volume of 850,231. Guardant Health Inc has a 1 year low of $55.90 and a 1 year high of $100.00. The company has a 50 day moving average price of $87.42 and a 200 day moving average price of $81.30. The stock has a market capitalization of $9.03 billion, a P/E ratio of -71.50 and a beta of 0.60.
Guardant Health (NASDAQ:GH) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($0.17). Guardant Health had a negative net margin of 45.53% and a negative return on equity of 13.35%. The firm had revenue of $66.30 million during the quarter, compared to analysts’ expectations of $59.18 million. During the same period in the prior year, the company posted ($0.13) EPS. The company’s revenue for the quarter was up 22.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Guardant Health Inc will post -1.48 earnings per share for the current year.
A number of research firms have commented on GH. BidaskClub downgraded shares of Guardant Health from a “buy” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research downgraded shares of Guardant Health from a “buy” rating to a “hold” rating in a research report on Wednesday, August 12th. Finally, BTIG Research began coverage on shares of Guardant Health in a research report on Thursday, June 11th. They set a “buy” rating and a $100.00 target price on the stock. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $110.17.
About Guardant Health
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.
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