Stock Track | Guardant Health Soars on Record Revenue Growth and Raised Guidance

Stock Track11-08

Guardant Health Inc. (NASDAQ: GH), a leading precision oncology company, saw its stock soar by a remarkable 31.2% in pre-market trading on November 7, 2024. This surge came on the heels of the company's stellar third-quarter 2024 financial results and upbeat guidance for the full year.

For the quarter ended September 30, 2024, Guardant Health reported record revenue of $191.5 million, a staggering 34% increase compared to the same period last year. This figure surpassed Wall Street's consensus estimate of $170.6 million, reflecting the robust demand for the company's liquid biopsy tests.

One of the key highlights was the company achieving an average selling price (ASP) of over $3,000 for its flagship Guardant360 test, meeting its long-term target four years ahead of schedule. This achievement was driven by higher Medicare reimbursement rates, which increased to $5,000 effective January 1, 2024, and improved reimbursement from Medicare Advantage and commercial payers.

Buoyed by its strong performance, Guardant Health raised its full-year 2024 revenue guidance to a range of $720 million to $725 million, representing growth of 28% to 29% compared to the previous year. The company also improved its free cash flow outlook for 2024, projecting it to be in the range of $(265) million to $(275) million, an improvement of $70 million to $80 million compared to 2023.

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(NASDAQ: GH), a leading precision oncology company, saw its stock soar by a remarkable 31.2% in pre-market trading on November 7, 2024. This surge came on the heels of the company...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GH","symbol_name":"Guardant Health Inc.","start_time":0,"source_url":"","article_id":"1190794583","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1190794583","pubTimestamp":1731036468,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Guardant Health Inc. , a leading precision oncology company, saw its stock soar by a remarkable 31.2% in pre-market trading on November 7, 2024. 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