Eversept Partners LP Makes New Investment in Guardant Health, Inc. (NASDAQ:GH)

Eversept Partners LP acquired a new position in Guardant Health, Inc. (NASDAQ:GH) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 276,036 shares of the company’s stock, valued at approximately $8,433,000. Guardant Health accounts for 0.7% of Eversept Partners LP’s portfolio, making the stock its 26th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Guardant Health in the fourth quarter valued at $36,438,000. Lord Abbett & CO. LLC acquired a new position in shares of Guardant Health during the 3rd quarter worth approximately $15,624,000. Vanguard Group Inc. raised its stake in shares of Guardant Health by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 12,052,551 shares of the company’s stock worth $368,205,000 after buying an additional 350,606 shares during the period. Blue Water Life Science Advisors LP lifted its position in shares of Guardant Health by 53.9% during the 4th quarter. Blue Water Life Science Advisors LP now owns 694,047 shares of the company’s stock valued at $21,203,000 after buying an additional 243,000 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in Guardant Health by 19.4% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,464,213 shares of the company’s stock worth $44,732,000 after acquiring an additional 238,037 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GH has been the subject of several research analyst reports. Mizuho assumed coverage on shares of Guardant Health in a research report on Thursday, April 10th. They set an “outperform” rating and a $55.00 price target for the company. Guggenheim reissued a “buy” rating and set a $56.00 price objective on shares of Guardant Health in a research note on Monday, February 24th. Stephens reaffirmed an “overweight” rating and issued a $55.00 target price on shares of Guardant Health in a research note on Wednesday, March 26th. Stifel Nicolaus boosted their price target on shares of Guardant Health from $45.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Scotiabank lifted their target price on shares of Guardant Health from $47.00 to $52.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 24th. Twenty equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $49.00.

Guardant Health Stock Performance

Guardant Health stock opened at $42.61 on Tuesday. The company has a market capitalization of $5.26 billion, a P/E ratio of -11.97 and a beta of 1.45. Guardant Health, Inc. has a fifty-two week low of $16.77 and a fifty-two week high of $50.89. The stock has a 50-day simple moving average of $43.50 and a 200-day simple moving average of $36.71.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.15). Guardant Health had a negative return on equity of 19,157.20% and a negative net margin of 59.05%. The business had revenue of $201.81 million for the quarter, compared to analyst estimates of $192.50 million. As a group, analysts forecast that Guardant Health, Inc. will post -2.9 earnings per share for the current year.

Guardant Health Company 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.