Sumitomo Mitsui Trust Holdings Inc. decreases position in Guardant Health, Inc. (NASDAQ:GH)

Sumitomo Mitsui Trust Holdings Inc. reduced its position in shares of Guardant Health, Inc. (NASDAQ:GH – Free Report) by 72.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 88,694 shares of the company’s stock after selling 229,000 shares during the period. Shares of Sumitomo Mitsui Trust Holdings Inc. in Guardant Health were worth $2,561,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GH. International Assets Investment Management LLC bought a new position in shares of Guardant Health in the 4th quarter valued at about $326,000. Strs Ohio lifted its holdings in shares of Guardant Health by 19.0% during the fourth quarter. Strs Ohio now owns 23,800 shares of the company’s stock valued at $643,000 after buying an additional 3,800 shares in the last quarter. abrdn plc bought a new stake in shares of Guardant Health in the 4th quarter valued at approximately $9,362,000. Handelsbanken Fonder AB raised its stake in Guardant Health by 31.8% in the fourth quarter. Handelsbanken Fonder AB now owns 161,341 shares of the company’s stock worth $4,364,000 after buying an additional 38,900 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of Guardant Health by 53.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 100,948 shares of the company’s stock worth $2,731,000 after purchasing an additional 35,202 shares in the last quarter. Institutional investors own 92.60% of the company’s shares.

Guardant Health stock performance

Shares of GH stock opened at $28.26 on Thursday. Guardant Health, Inc. it has a one year low of $15.81 and a one year high of $41.06. The company has a fifty day moving average of $30.45 and a 200 day moving average of $24.38. The company has a debt-to-equity ratio of 16.70, a current ratio of 5.95, and a quick ratio of 5.66. The firm has a market cap of $3.46 billion, a P/E ratio of -7.21 and a beta of 1.13.

Guardant Health (NASDAQ:GH – Get Free Report ) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.10). Guardant Health had a negative net margin of 76.34% and a negative return on equity of 246.47%. The firm had revenue of $177.24 million for the quarter, compared to the consensus estimate of $162.59 million. In the same quarter last year, the firm earned ($0.67) earnings per share. The company’s revenue for the quarter was up 29.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Guardant Health, Inc. will post -3.31 EPS for the current year.

Changes in Analyst Ratings

Several research firms have commented on GH. Bank of America upped their target price on Guardant Health from $28.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Guggenheim upgraded shares of Guardant Health from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Friday, June 28th. Craig Hallum lifted their price objective on shares of Guardant Health from $28.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. TD Cowen boosted their target price on shares of Guardant Health from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, UBS Group upped their target price on shares of Guardant Health from $32.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $39.31.

Read our latest GH review

Guardant Health Company Profile

(Free Report)

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

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