Guardant Health slides on stock, convertible bonds sale plans

Guardant Health

04/11/2025 22:27

** Shares of medical diagnostics co Guardant Health GH.O down 6.9% post-market to $91.34 as it seeks capital raise

** Palo Alto, California-based precision oncology firm commences $250 mln stock offering and concurrent private offering of $300 mln convertible bonds (CBs) due 2033

** Co plans to use net offering proceeds from the offerings for general purposes, including repurchasing a portion of its 0% CBs due 2027, and for potential acquisitions of complementary products, technologies

** With ~126 mln shares outstanding, GH has about $12.4 bln market cap

** Goldman Sachs, Jefferies, Leerink and Guggenheim are joint bookrunners for the stock offering

** GH stock on Tues closed down 0.8% at $98.14. Stock up 41% over the past week and has more than tripled YTD

** 23 of 25 analysts rate GH "strong buy" or "buy",  rest rate "hold"; median PT of $100 up from $68 a month ago, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))