Cathie Wood’s Top 5 Buys in July

In this article, we discuss Cathie Wood’s top 5 buys in July. If you want to see more stocks that Cathie Wood bought this month, click Cathie Wood’s Top 10 Buys in July. 

5. Guardant Health, Inc. (NASDAQ:GH)

Number of Hedge Fund Holders: 33

Guardant Health, Inc. (NASDAQ:GH) was incorporated in 2011 and is headquartered in Redwood City, California. It is a precision oncology company that specializes in blood tests, data sets, and analytics in the United States and internationally. In July, ARK Genomic Revolution ETF purchased 428,788 shares of Guardant Health, Inc. (NASDAQ:GH). 

On June 2, Piper Sandler analyst David Westenberg initiated coverage of Guardant Health, Inc. (NASDAQ:GH) with an Overweight rating and a $65 price target. According to the analyst, Guardant Health, Inc. (NASDAQ:GH) is the market leader in liquid biopsy and he believes investors often forget that Guardant Health, Inc. (NASDAQ:GH)’s expertise in liquid biopsy should give it “a piece of all these markets with better scale”.

Among the hedge funds tracked by Insider Monkey, 33 funds reported owning stakes in Guardant Health, Inc. (NASDAQ:GH) at the end of Q1 2022, compared to 36 funds in the last quarter. Andreas Halvorsen’s Viking Global held the largest stake in the company, with 5.8 million shares worth $385 million. 

Here is what ClearBridge Multi Cap Growth Strategy has to say about Guardant Health, Inc. (NASDAQ:GH) in its Q3 2021 investor letter:

“Innovation within the health care sector has long been an area of focus in the Strategy and we plan to continue to maintain a meaningful overweight to the sector. That said, we expect this will be reflected in more diversified exposures beyond therapeutics companies. Some of the emerging areas of interest include diagnostics, life science tools, labs and other related services, where we own liquid biopsy leader Guardant Health and are working to build new holdings.”