Diagnostics company Guardant Health (NASDAQ: GH) will be reporting earnings this Thursday after the bell. Here’s what to expect.
Guardant Health beat analysts’ revenue expectations last quarter, reporting revenues of $335 million, up 44.3% year on year. It was a very strong quarter for the company, with full-year revenue guidance exceeding analysts’ expectations.
Is Guardant Health a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Guardant Health’s revenue to grow 32.2% year on year, slowing from the 38.5% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Guardant Health has a history of exceeding Wall Street’s expectations.
Looking at Guardant Health’s peers in the testing & diagnostics services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. NeoGenomics delivered year-on-year revenue growth of 11.4%, beating analysts’ expectations by 1.1%, and Labcorp reported revenues up 6.9%, topping estimates by 1.2%. NeoGenomics’s stock price was unchanged after the resultswhile Labcorp was up 11.2%.
Read our full analysis of NeoGenomics’s results here and Labcorp’s results here.
There has been positive sentiment among investors in the testing & diagnostics services segment, with share prices up 2.8% on average over the last month. Guardant Health is down 6.6% during the same time and is heading into earnings with an average analyst price target of $202.24 (compared to the current share price of $174.95).
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