Guardant Health Inc. announced impressive fourth-quarter 2023 sales of $155.1 million, a 22% increase from the previous year, exceeding expectations. The company’s precision oncology revenue saw a significant boost of 25% to $142.2 million, fueled by a surge in clinical and biopharma testing volumes.
During Q4 2023, Guardant Health conducted 46,400 tests for clinical customers and 9,500 tests for biopharmaceutical customers, representing increases of 29% and 16%, respectively. The company reported an adjusted EPS loss of $(0.64), surpassing the anticipated $(0.87).
Looking ahead to full-year 2024, Guardant Health anticipates revenue (excluding screening) to fall within the range of $655 million to $670 million, with an adjusted gross margin (excluding screening) expected to be between 60% and 62%. Despite a delay in the FDA AdCom meeting for Shield CRC, management remains optimistic about securing approval in 2024.
GH Stock Plummets by 12.89%: What Investors Need to Know
On February 23, 2024, GH stock experienced a significant drop in its price performance. According to data from CNN Money, GH is currently trading near the bottom of its 52-week range and below its 200-day simple moving average. The price of GH shares decreased by $2.87 since the market last closed, representing a 12.89% drop in value. The stock opened at $20.94, which was $1.33 lower than its previous close. The drop in GH stock price could be attributed to various factors, such as poor company performance, market volatility, or negative news affecting the stock. Investors may have been concerned about the company’s financial health or future prospects, leading them to sell off their shares and causing the stock price to decrease. It is important for investors to closely monitor GH stock performance and stay informed about any developments that may impact the stock price. By staying informed and conducting thorough research, investors can make well-informed decisions about their investments and mitigate potential risks.
GH Stock Performance: Financial Results and Analysis for February 23, 2024
On February 23, 2024, GH stock saw mixed performances as the company released its financial results for the past year and the third quarter. According to data from CNN Money, GH reported total revenue of $449.54 million for the past year, which marked a 20.31% increase compared to the previous year. The total revenue for the third quarter was $143.03 million, showing a 4.29% increase since the previous quarter. However, the company’s net income painted a different picture. GH reported a net income of -$654.59 million for the past year, representing a significant decrease of 61.36% compared to the previous year. The net income for the third quarter was -$86.10 million, showing an 18.32% decrease since the previous quarter. Similarly, the earnings per share (EPS) for GH also experienced a decline. The EPS for the past year was reported as -$6.41, marking a 60.0% decrease compared to the previous year. The EPS for the third quarter was -$0.73, showing a 9.35% decrease since the previous quarter. Overall, GH stock performances on February 23, 2024, were impacted by the mixed financial results released by the company. Investors and analysts will be closely monitoring GH’s future financial reports and business strategies to assess the company’s performance and potential for growth in the coming quarters.
