Medina Manuel Hidalgo, a director at Guardant Health, Inc. (NASDAQ:GH), sold 1,300 shares of the company’s stock on March 6, 2024. The shares were sold at an average price of $91.54, resulting in a total transaction value of $119,002.00. Following this sale, Hidalgo now holds 1,193 shares, which are valued at approximately $109,207.22. This sale reflects a significant 52.15% decrease in Hidalgo’s ownership position.
The transaction was reported in a filing with the U.S. Securities and Exchange Commission (SEC), which can be accessed through the SEC’s official website.
Market Reaction and Performance
In mid-day trading on Monday, Guardant Health’s stock price remained stable at $91.20. A total of 1,712,241 shares changed hands, slightly below the average trading volume of 2,059,165 shares. The company’s fifty-day simple moving average stands at $105.09, while the two-hundred day simple moving average is $89.33. Guardant Health currently has a market capitalization of $11.96 billion, a price-to-earnings ratio of -27.55, and a beta of 1.67. The stock has experienced a 12-month low of $34.88 and a 12-month high of $120.74.
On February 19, 2024, Guardant Health reported its quarterly earnings, revealing an earnings per share (EPS) of ($0.50), which fell short of analysts’ expectations of ($0.43) by $0.07. The company generated revenue of $281.27 million during this quarter, surpassing analyst estimates of $269.74 million, marking a 39.4% increase from the same period last year. In the prior year, the company posted an EPS of ($0.62).
Analyst Perspectives
Recent reports from equity analysts provide varied outlooks on Guardant Health. On February 17, 2024, Robert W. Baird initiated coverage with an “outperform” rating and a price target of $120.00. In contrast, Morgan Stanley raised its price target from $105.00 to $130.00, maintaining an “overweight” rating. Evercore also set a price target of $110.00, while Barclays reaffirmed an “overweight” rating with a target price of $130.00. Piper Sandler subsequently raised its price target to $130.00 with an “overweight” rating as well.
Overall, 21 investment analysts have rated Guardant Health’s stock as a Buy, while one has issued a Hold rating and another a Sell rating. According to data from MarketBeat.com, the company enjoys a consensus rating of “Moderate Buy” with an average target price of $122.57.
Founded in 2012 and headquartered in Redwood City, California, Guardant Health specializes in precision oncology and blood-based cancer diagnostics. The company aims to enhance cancer care by providing actionable data to clinicians and researchers globally. Its flagship product, Guardant360, is a next-generation sequencing assay designed to detect mutations and genomic alterations in over 70 cancer-related genes.
