Guardant Health (GH) Reports Solid Q2 Results

Aristotle Atlantic Partners, an investment management firm, released its second quarter 2023 investor letter, a copy of which can be downloaded here. For the second quarter of 2023, Aristotle Atlantic’s Core Equity Composite posted a total return of 9.29 % gross of fees (9.18% net of fees), outperforming the S&P 500 Index, which recorded a total return of 8.74%. Spare some time to check the fund’s top 5 holdings to know more about their top bets for 2023.

In its Q2 2023 investor letter, Aristotle Atlantic Partners mentioned Guardant Health, Inc. (NASDAQ:GH) and explained its insights for the company. Founded in 2011, Guardant Health, Inc. (NASDAQ:GH) is a Palo Alto, California-based healthcare company with a $371.3 billion market capitalization. Guardant Health, Inc. (NASDAQ:GH) delivered a 42.72% return since the beginning of the year, while its 12-month returns are downby -22.62%. The stock closed at $899.79 per share on July 28, 2023.

Here is what Aristotle Atlantic Partners has to say about Guardant Health, Inc. (NASDAQ:GH) in its Q2 2023 investor letter:

“Guardant shares ended the quarter strong, recovering to some extent from the previous weakness in the quarter, as the company reported accelerating clinical volume growth and raised earnings guidance. In addition, the company announced additional U.S. commercial insurance coverage for their Guardant 360 test in the U.S. and government reimbursement in Japan. Lasty, the company completed a successful secondary offering, raising approximately $250 million.”

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Our calculations show that Guardant Health, Inc. (NASDAQ:GH) was not able to secure a spot on our list of the 30 Most Popular Stocks Among Hedge Funds. Guardant Health, Inc. (NASDAQ:GH) was in 27 hedge fund portfolios at the end of the second quarter of 2023, compared to 34 funds in the previous quarter. Guardant Health, Inc. (NASDAQ:GH) delivered a 72.07% return in the past 3 months.

We also discussed Guardant Health, Inc. (NASDAQ:GH) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q2 2023 page.

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Disclosure: None. This article is originally published at Insider Monkey.