PALO ALTO, CA—Kumud Kalia, the Chief Information Officer of Guardant Health Inc. (NASDAQ:GH), has recently sold 7,000 shares of the company's common stock. The transaction, executed on November 18, 2024, was completed at a weighted average price of $29.246 per share, resulting in a total sale value of $204,722.
The shares were sold in multiple transactions, with prices ranging from $29.23 to $29.31. Following this sale, Kalia retains ownership of 17,744 shares in the company. This transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission, as required for company insiders.
In other recent news, Guardant Health announced its financial results for the third quarter of 2024. The earnings call, hosted by Zarak Khurshid, Vice President of Investor Relations, included participation from Co-CEOs Helmy Eltoukhy and AmirAli Talasaz, as well as CFO Mike Bell. During the call, the management team highlighted non-GAAP financial measures and provided forward-looking statements, while also reminding investors of the potential discrepancies between projected and actual results. The company also clarified that it does not intend to revise these projections or forward-looking statements unless required by law. Despite the absence of specific financial details like revenue or earnings per share in the summary, there was no mention of any financial misses, suggesting that Guardant Health may have met its expectations for the quarter. These are among the recent developments for Guardant Health.
InvestingPro Insights
As Guardant Health's CIO Kumud Kalia reduces his stake in the company, investors might be curious about the broader financial picture. According to InvestingPro data, Guardant Health currently boasts a market capitalization of $3.78 billion, reflecting its significant presence in the healthcare technology sector.
Despite the recent insider sale, the company has shown strong revenue growth, with a 33.87% increase in quarterly revenue as of Q3 2024. This growth trajectory aligns with an InvestingPro Tip indicating that 10 analysts have revised their earnings upwards for the upcoming period, suggesting positive expectations for the company's financial performance.
However, it's worth noting that Guardant Health is not currently profitable, with an adjusted operating income of -$429.11 million over the last twelve months. This is consistent with another InvestingPro Tip stating that analysts do not anticipate the company will be profitable this year. Despite this, the company operates with a moderate level of debt and maintains liquid assets that exceed short-term obligations, which could provide some financial flexibility as it pursues growth.
Interestingly, Guardant Health has seen a strong return over the last month, with a 35.45% price total return. This recent performance might be of particular interest to investors considering the timing of the insider sale.
For those seeking a more comprehensive analysis, InvestingPro offers additional insights with 7 more tips available for Guardant Health, providing a deeper understanding of the company's financial health and market position.
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