Hedgeye CEO Keith McCullough is adding Guardant Health (GH) to the long side of Investing Ideas. Below is a brief note.
I call "selling-some" (in something that's up) and "buying-some" (in something that's down) "pruning and planting" within your portfolio...
The more ideas you have, the more asymmetry your portfolio has. My team has plenty of ideas.
While some people are chasing MTCH's chart today, others are selling Guardant Health (GH) on the news of their convertible offering. That's happening on light volume, so the #process says take advantage of that buying opportunity.
Here's Healthcare analyst Tom Tobin's latest summary of GH's recent quarter:
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Guardant reported 3Q20 revenue of $74.6M consensus of $65.9M [7 est. $62.0-69.0M]. Based on our Claims Index trend we had expected upside to clinical testing. The sequential uptick in volume at Guardant has also been seen across several of the companies we track. Anecdotally, we have heard several comments that cancer testing has been accelerating in recent weeks despite the reacceleration of COVID19. The updates on their clinical programs in colorectal cancer screening and expanded use were not meaningfully different than prior comments they’ve made. |
Buyem on red,
KM