Does Guardant Health (GH) Have Attractive Growth Prospects in the Long-Term?
ClearBridge Investments, an investment management firm, released its fourth-quarter 2022 “ClearBridge Multi Cap Growth Strategy” investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy outperformed the Russell 3000 Growth Index benchmark. The Strategy gained in six of the seven sectors on an absolute basis in which it was invested. Health care, industrials, and communication services sectors were the primary contributors, while IT sector detracted from performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.
ClearBridge Multi Cap Growth Strategy highlighted stocks Guardant Health, Inc. (NASDAQ:GH) in its Q4 2022 investor letter. Headquartered in Redwood City, California, Guardant Health, Inc. (NASDAQ:GH) is a precision oncology company. On February 17, 2023, Guardant Health, Inc. (NASDAQ:GH) stock closed at $28.45 per share. One-month return of Guardant Health, Inc. (NASDAQ:GH) was -10.25%, and its shares lost 54.19% of their value over the last 52 weeks. Guardant Health, Inc. (NASDAQ:GH) has a market capitalization of $2.914 billion.
ClearBridge Multi Cap Growth Strategy made the following comment about Guardant Health, Inc. (NASDAQ:GH) in its Q4 2022 investor letter:
“Guardant Health, Inc. (NASDAQ:GH), a disruptor within health care that is developing blood tests for cancer screening, announced a mixed readout for its Eclipse screening test that raised concerns about how much market share the product will eventually garner. The company will likely need to raise capital over the next couple of years, which has also weighed on the stock. We believe the issues facing both Wolfspeed and Guardant are temporary and we continue to maintain our weightings in both.”
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Guardant Health, Inc. (NASDAQ:GH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 33 hedge fund portfolios held Guardant Health, Inc. (NASDAQ:GH) at the end of the third quarter, which was 35 in the previous quarter.
We discussed Guardant Health, Inc. (NASDAQ:GH) in another article and shared Aristotle Atlantic Partner’s views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
