Brokerages Anticipate Guardant Health, Inc. (NASDAQ:GH) Will Post Quarterly Sales of $106.41 Million

Wall Street analysts expect that Guardant Health, Inc. (NASDAQ:GHGet Rating) will post $106.41 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Guardant Health’s earnings. The highest sales estimate is $110.87 million and the lowest is $103.63 million. Guardant Health posted sales of $92.10 million during the same quarter last year, which indicates a positive year over year growth rate of 15.5%. The business is expected to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Guardant Health will report full year sales of $465.22 million for the current year, with estimates ranging from $462.95 million to $468.40 million. For the next financial year, analysts anticipate that the firm will post sales of $626.58 million, with estimates ranging from $602.46 million to $640.90 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Guardant Health.

Guardant Health (NASDAQ:GHGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported ($1.21) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($1.21). The firm had revenue of $96.10 million for the quarter, compared to the consensus estimate of $95.71 million. Guardant Health had a negative net margin of 107.20% and a negative return on equity of 62.68%. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.06) earnings per share.

Several equities analysts have issued reports on the stock. Cowen decreased their price objective on shares of Guardant Health from $170.00 to $110.00 and set an “outperform” rating on the stock in a report on Thursday, February 24th. Citigroup cut their price objective on shares of Guardant Health from $120.00 to $100.00 in a research report on Friday, May 6th. SVB Leerink decreased their price target on shares of Guardant Health from $170.00 to $140.00 and set an “outperform” rating for the company in a research note on Thursday, February 24th. Zacks Investment Research downgraded shares of Guardant Health from a “hold” rating to a “sell” rating in a research note on Friday, May 6th. Finally, Morgan Stanley decreased their price target on shares of Guardant Health from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, February 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $136.83.

GH traded up $5.06 during midday trading on Wednesday, hitting $35.91. 2,242,882 shares of the company traded hands, compared to its average volume of 1,623,170. The company has a current ratio of 4.87, a quick ratio of 4.71 and a debt-to-equity ratio of 2.13. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of -8.72 and a beta of 0.70. Guardant Health has a 52-week low of $27.65 and a 52-week high of $133.82. The business has a 50 day simple moving average of $60.19 and a two-hundred day simple moving average of $78.11.

In other Guardant Health news, Director Stanley J. Meresman sold 4,934 shares of the business’s stock in a transaction on Thursday, March 10th. The shares were sold at an average price of $58.74, for a total value of $289,823.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 5.80% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Confluence Wealth Services Inc. acquired a new position in Guardant Health in the 4th quarter valued at $29,000. Hall Laurie J Trustee purchased a new stake in shares of Guardant Health during the 4th quarter worth $30,000. National Bank of Canada FI purchased a new stake in shares of Guardant Health during the 4th quarter worth $32,000. Daiwa Securities Group Inc. boosted its position in shares of Guardant Health by 74.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 347 shares of the company’s stock worth $43,000 after purchasing an additional 148 shares in the last quarter. Finally, FourThought Financial LLC boosted its position in shares of Guardant Health by 1,690.0% during the 3rd quarter. FourThought Financial LLC now owns 358 shares of the company’s stock worth $44,000 after purchasing an additional 338 shares in the last quarter. 93.69% of the stock is currently owned by institutional investors.

About Guardant Health (Get Rating)

Guardant Health, Inc, a precision oncology company, provides blood tests, data sets, and analytics in the United States and internationally. The company offers Guardant360, Guardant360 LDT, Guardant360 CDx, and GuardantOMNI liquid biopsy-based tests for advanced stage cancer; and GuardantINFORM, an in-silico research platform that comprise a clinical-genomic liquid biopsy dataset of advanced cancer patients.

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Earnings History and Estimates for Guardant Health (NASDAQ:GH)

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