Analysts at Wells Fargo & Company have begun coverage of Guardant Health (NASDAQ: GH) with a positive outlook. In a research report released on Monday, the brokerage assigned an “overweight” rating and set a price target of $72.00 for the stock. This target indicates a potential upside of 20.56% from the current trading price.
Several other firms have also shared optimistic views on Guardant Health. On July 31, Raymond James Financial raised their price target from $59.00 to $61.00, rating the stock as “outperform.” In a report dated July 14, Evercore ISI upgraded Guardant Health to a “strong-buy” rating. Similarly, Mizuho adjusted their target from $60.00 to $65.00, while Scotiabank raised theirs from $57.00 to $60.00 on the same day as Raymond James. Moreover, BTIG Research reaffirmed a “buy” rating with a target of $70.00.
Currently, one analyst has assigned a “strong buy” rating to Guardant Health, with a total of eighteen analysts giving it a “buy” rating. According to data from MarketBeat, the stock holds an average rating of “buy” and an average target price of $59.00.
Stock Performance and Recent Earnings
On Monday, shares of Guardant Health opened at $59.72. The company boasts a market capitalization of $7.45 billion, with a price-to-earnings (PE) ratio of -17.83 and a beta of 1.46. Its 50-day moving average price stands at $54.89, while the 200-day moving average is $48.49. Over the past twelve months, the stock has fluctuated significantly, achieving a low of $20.14 and a high of $68.00.
Guardant Health recently reported its quarterly earnings on July 30, revealing an earnings per share (EPS) of ($0.44), surpassing the consensus estimate of ($0.52) by $0.08. The company generated revenue of $232.09 million for the quarter, exceeding the expected $211.19 million. This revenue represents a year-over-year increase of 31.0% compared to the same period last year, when it posted an EPS of ($0.84). For the fiscal year 2025, Guardant Health has set its guidance at EPS. Analysts forecast an average EPS of ($2.90) for the current fiscal year.
Insider Transactions and Institutional Holdings
In related news, Director Medina Manuel Hidalgo sold 2,165 shares of Guardant Health on September 12 for an average price of $54.16, totaling $117,256.40. Following this transaction, Hidalgo’s ownership in the company decreased by 71.78%, leaving him with 851 shares valued at approximately $46,090.16.
Additionally, CEO Helmy Eltoukhy sold 300,000 shares on September 9 at an average price of $59.45, resulting in a transaction valued at $17,835,000.00. After this sale, Eltoukhy retains 2,123,499 shares, worth about $126,242,015.55, reflecting a 12.38% decrease in his ownership. In total, insiders have sold 402,691 shares worth $23,069,965 over the last ninety days, with company insiders holding 6.10% of the stock.
Several institutional investors have also adjusted their positions in Guardant Health. Signaturefd LLC increased its holdings by 50.5% in the second quarter, now owning 635 shares valued at $33,000. IFP Advisors Inc raised its stake by 120.1%, holding 612 shares worth $33,000 after acquiring an additional 334 shares. Allworth Financial LP grew its position by an impressive 358.4%, now owning 706 shares valued at $37,000. Other notable investments include SVB Wealth LLC and FNY Investment Advisers LLC, which purchased new positions worth approximately $54,000 and $62,000, respectively.
Overall, approximately 92.60% of Guardant Health’s stock is currently held by institutional investors, indicating strong interest from the financial market.