Guardant Health Inc (NASDAQ: GH) Has Dropped -15.96% So Far This Year. Does That Mean Trouble Ahead?

During the last session, Guardant Health Inc (NASDAQ:GH)’s traded shares were 3.18 million, with the beta value of the company hitting 0.89. At the end of the trading day, the stock’s price was $19.70, reflecting an intraday loss of -5.24% or -$1.09. The 52-week high for the GH share is $41.06, that puts it down -108.43 from that peak though still a striking 14.11% gain since the share price plummeted to a 52-week low of $16.92. The company’s market capitalization is $2.40B, and the average intraday trading volume over the past 10 days was 2.77 million shares, and the average trade volume was 1.86 million shares over the past three months.

Guardant Health Inc (NASDAQ:GH) trade information

Guardant Health Inc (GH) registered a -5.24% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -5.24% in intraday trading to $19.70, hitting a weekly high. The stock’s 5-day price performance is 11.36%, and it has moved by 4.12% in 30 days. Based on these gigs, the overall price performance for the year is -15.96%. The short interest in Guardant Health Inc (NASDAQ:GH) is 7.76 million shares and it means that shorts have 3.91 day(s) to cover.

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Guardant Health Inc (GH) estimates and forecasts

Statistics show that Guardant Health Inc has outperformed its competitors in share price, compared to the industry in which it operates. Guardant Health Inc (GH) shares have gone down -32.49% during the last six months, with a year-to-date growth rate more than the industry average at 18.22% against 13.60. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 35.40% this quarter and then drop -19.40% in the quarter after that. In the rating firms’ projections, revenue will increase 17.70% compared to the previous financial year.

Revenue for the current quarter is expected to be $150.42 million as predicted by 18 analyst(s). Meanwhile, a consensus of 18 analyst(s) estimates revenue growth to $160.99 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $128.71 million and $137.15 million respectively. In this case, analysts expect current quarter sales to grow by 16.90% and then jump by 17.40% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -8.88%. While earnings are projected to return 23.38% in 2024, the next five years will return 27.80% per annum.

GH Dividends

Guardant Health Inc is due to release its next quarterly earnings between May 07 and May 13. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Guardant Health Inc (NASDAQ:GH)’s Major holders

Guardant Health Inc insiders own 4.15% of total outstanding shares while institutional holders control 92.19%, with the float percentage being 96.18%. Vanguard Group Inc is the largest shareholder of the company, while 412 institutions own stock in it. As of Jun 29, 2023, the company held over 10.8 million shares (or 9.18% of all shares), a total value of $386.76 million in shares.

The next largest institutional holding, with 9.68 million shares, is of Blackrock Inc.’s that is approximately 8.22% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $346.46 million.

Also, the Mutual Funds coming in first place with the largest holdings of Guardant Health Inc (GH) shares are Vanguard Total Stock Market Index Fund and Mutual Fund Ser Tr-Eventide Gilead Fund. Data provided on Jun 29, 2023 indicates that Vanguard Total Stock Market Index Fund owns about 3.42 million shares. This amounts to just over 2.90 percent of the company’s overall shares, with a $122.31 million market value. The same data shows that the other fund manager holds slightly less at 2.96 million, or about 2.52% of the stock, which is worth about $106.06 million.