Guardant Health Inc. [NASDAQ: GH] plunged by -$11.82 during the normal trading session on Monday and reaching a high of $112.35 during the day while it closed the day at $104.34. The company report on November 17, 2020 that Guardant Health, Inc. Prices $1 Billion Convertible Senior Notes Offering.
Guardant Health, Inc. (Nasdaq: GH) announced the pricing of its offering of $1,000,000,000 aggregate principal amount of 0% convertible senior notes due 2027 (the “notes”) in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The issuance and sale of the notes are scheduled to settle on November 19, 2020, subject to customary closing conditions. Guardant Health also granted the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date notes are first issued, up to an additional $150,000,000 principal amount of notes.
The notes will be senior, unsecured obligations of Guardant Health. The notes will not bear regular interest, and the principal amount of the notes will not accrete. The notes will mature on November 15, 2027, unless earlier repurchased, redeemed or converted. Before August 15, 2027, noteholders will have the right to convert their notes only upon the occurrence of certain events. From and after August 15, 2027, noteholders may convert their notes at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date. Guardant Health will settle conversions by paying or delivering, as applicable, cash, shares of its common stock or a combination of cash and shares of its common stock, at Guardant Health’s election. The initial conversion rate is 7.1523 shares of common stock per $1,000 principal amount of notes, which represents an initial conversion price of approximately $139.82 per share of common stock. The initial conversion price represents a premium of approximately 34.0% over the last reported sale price of $104.34 per share of Guardant Health’s common stock on November 16, 2020. The conversion rate and conversion price will be subject to adjustment upon the occurrence of certain events.
Guardant Health Inc. stock has also loss -7.44% of its value over the past 7 days. However, GH stock has inclined by 15.03% in the 3 months of the year. Over the past six months meanwhile, it has gained 7.81% and gained 33.53% year-on date.
The market cap for GH stock reached $10.42 billion, with 99.55 million shares outstanding and 92.19 million shares in the current float. Compared to the average trading volume of 898.73K shares, GH reached a trading volume of 3527971 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Guardant Health Inc. [GH]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GH shares is $129.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GH stock is a recommendation set at 1.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Morgan Stanley have made an estimate for Guardant Health Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on September 09, 2020. The new note on the price target was released on June 12, 2020, representing the official price target for Guardant Health Inc. stock. Previously, the target price had yet another raise to $103, while Guggenheim analysts kept a Buy rating on GH stock.
The Average True Range (ATR) for Guardant Health Inc. is set at 5.56, with the Price to Sales ratio for GH stock in the period of the last 12 months amounting to 38.39. The Price to Book ratio for the last quarter was 9.51, with the Price to Cash per share for the same quarter was set at 10.15.
GH stock trade performance evaluation
Guardant Health Inc. [GH] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.44. With this latest performance, GH shares gained by 3.31% in over the last four-week period, additionally plugging by 7.81% over the last 6 months – not to mention a rise of 30.41% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GH stock in for the last two-week period is set at 43.84, with the RSI for the last a single of trading hit 37.97, and the three-weeks RSI is set at 47.00 for Guardant Health Inc. [GH]. The present Moving Average for the last 50 days of trading for this stock 106.71, while it was recorded at 113.11 for the last single week of trading, and 87.52 for the last 200 days.
Guardant Health Inc. [GH]: An insightful look at the core fundamentals
Guardant Health Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 14.70 and a Current Ratio set at 15.10.
Earnings per share (EPS) analysis for Guardant Health Inc. [GH] stock
With the latest financial reports released by the company, Guardant Health Inc. posted -0.27/share EPS, while the average EPS was predicted by analysts to be reported at -0.31/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 12.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GH. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Guardant Health Inc. go to 28.60%.
Guardant Health Inc. [GH]: Insider Ownership positions
There are presently around $9,171 million, or 85.60% of GH stock, in the hands of institutional investors. The top three institutional holders of GH stocks are: SB INVESTMENT ADVISERS (UK) LTD with ownership of 14,037,960, which is approximately 0% of the company’s market cap and around 5.40% of the total institutional ownership; VANGUARD GROUP INC, holding 6,526,996 shares of the stock with an approximate value of $681.03 million in GH stocks shares; and MORGAN STANLEY, currently with $658.45 million in GH stock with ownership of nearly 5.623% of the company’s market capitalization.
186 institutional holders increased their position in Guardant Health Inc. [NASDAQ:GH] by around 7,949,687 shares. Additionally, 156 investors decreased positions by around 8,762,212 shares, while 45 investors held positions by with 71,181,912 shares. The mentioned changes placed institutional holdings at 87,893,811 shares, according to the latest SEC report filing. GH stock had 61 new institutional investments in for a total of 2,122,515 shares, while 47 institutional investors sold positions of 1,956,445 shares during the same period.