Musa Tariq Sells 116 Shares of Guardant Health (NASDAQ:GH) Stock
by Michael Walen · The Markets DailyGuardant Health, Inc. (NASDAQ:GH – Get Free Report) Director Musa Tariq sold 116 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $175.00, for a total transaction of $20,300.00. Following the sale, the director directly owned 11,449 shares of the company’s stock, valued at approximately $2,003,575. This trade represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Musa Tariq also recently made the following trade(s):
- On Monday, August 17th, Musa Tariq sold 116 shares of Guardant Health stock. The shares were sold at an average price of $156.45, for a total transaction of $18,148.20.
- On Monday, June 22nd, Musa Tariq sold 1,951 shares of Guardant Health stock. The shares were sold at an average price of $131.16, for a total transaction of $255,893.16.
Guardant Health Stock Down 2.0%
GH stock opened at $179.38 on Friday. Guardant Health, Inc. has a twelve month low of $55.38 and a twelve month high of $183.51. The company has a market cap of $24.07 billion, a P/E ratio of -51.40 and a beta of 1.57. The business’s fifty day moving average is $161.10 and its 200-day moving average is $127.47.
Guardant Health (NASDAQ:GH – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.34. The company had revenue of $334.98 million during the quarter, compared to the consensus estimate of $314.23 million. During the same quarter in the prior year, the company posted ($0.44) EPS. The company’s revenue for the quarter was up 44.3% compared to the same quarter last year. Research analysts anticipate that Guardant Health, Inc. will post -2.98 earnings per share for the current fiscal year.
Key Guardant Health News
Here are the key news stories impacting Guardant Health this week:
- Positive Sentiment: The FDA-cleared breast cancer application is the most important new catalyst in the latest reports because it validates Guardant Health’s technology in another large cancer market and could support future test volumes and partnerships. Guardant Health lands first FDA-cleared breast cancer liquid biopsy role
- Positive Sentiment: Investor sentiment is also supported by improving sales expectations. Guardant Health’s latest reported quarter produced approximately $335 million in revenue, up 44.3% year over year and above estimates, while its per-share loss was narrower than expected. The stock remains near its 52-week high, indicating that the market is pricing in strong growth and execution. Guardant Health nears buy point as sales outlook brightens
- Neutral Sentiment: A comparison of Guardant Health and Joint Corp. offered little new company-specific information, leaving GH’s valuation and long-term growth prospects as the main issues for investors to assess. Guardant Health and Joint comparison
- Negative Sentiment: Several insiders disclosed sales near $175-$178 per share: a director sold $20,300 of stock, another director sold approximately $145,000, Director Steve Krognes sold about $1.17 million, and CTO Darya Chudova sold roughly $1.38 million. The transactions could weigh on sentiment and signal profit-taking, although they were disclosed as pre-arranged Rule 10b5-1 plan sales. Guardant Health insider sales
Wall Street Analyst Weigh In
GH has been the subject of a number of analyst reports. Morgan Stanley boosted their price objective on shares of Guardant Health from $175.00 to $185.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Sanford C. Bernstein reissued an “outperform” rating and set a $210.00 price target on shares of Guardant Health in a research report on Thursday, September 10th. Royal Bank Of Canada upped their price objective on shares of Guardant Health from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Citigroup raised their price objective on Guardant Health from $150.00 to $215.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Finally, Mizuho lifted their target price on Guardant Health from $175.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Guardant Health presently has an average rating of “Moderate Buy” and an average price target of $188.12.
Institutional Investors Weigh In On Guardant Health
Large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company acquired a new stake in Guardant Health in the 2nd quarter valued at $208,592,000. William Blair Investment Management LLC bought a new position in shares of Guardant Health in the 2nd quarter valued at about $196,737,000. Norges Bank acquired a new stake in shares of Guardant Health in the fourth quarter valued at about $128,499,000. Summit Partners Public Asset Management LLC raised its holdings in Guardant Health by 674.5% during the fourth quarter. Summit Partners Public Asset Management LLC now owns 851,958 shares of the company’s stock worth $87,019,000 after acquiring an additional 741,958 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in Guardant Health during the fourth quarter valued at approximately $55,073,000. Institutional investors own 92.60% of the company’s stock.
Guardant Health Company Profile
Guardant Health, Inc (NASDAQ:GH) is a precision oncology company that develops blood-based diagnostic tests designed to help detect cancer, guide treatment decisions and monitor patients over time. Its liquid biopsy technologies analyze tumor-related signals in blood, reducing the need for tissue biopsies in certain clinical and research settings.
The company’s products include Guardant360 tests, which profile advanced cancers and can help identify potentially actionable genomic alterations; Guardant Reveal, which is used to assess residual disease and recurrence risk; and Guardant Shield, a blood-based screening test for colorectal cancer.
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