Guardian Pharmacy Services (NYSE:GRDN) Sets New 12-Month High – Here’s What Happened

Guardian Pharmacy Services, Inc. (NYSE:GRDN)’s share price hit a new 52-week high on Thursday . The company traded as high as $42.48 and last traded at $42.0220, with a volume of 412637 shares changing hands. The stock had previously closed at $41.83.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GRDN shares. Truist Financial boosted their price objective on shares of Guardian Pharmacy Services from $38.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Jefferies Financial Group initiated coverage on Guardian Pharmacy Services in a research note on Monday, March 30th. They issued a “buy” rating and a $44.00 target price for the company. Weiss Ratings lowered Guardian Pharmacy Services from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. UBS Group reiterated a “buy” rating on shares of Guardian Pharmacy Services in a report on Thursday, March 12th. Finally, Oppenheimer lifted their price objective on Guardian Pharmacy Services from $38.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.33.

Guardian Pharmacy Services Price Performance

The business’s 50 day simple moving average is $38.01 and its 200-day simple moving average is $33.91. The stock has a market capitalization of $2.09 billion, a P/E ratio of 50.63, a PEG ratio of 2.74 and a beta of 0.08.

Guardian Pharmacy Services (NYSE:GRDN) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. Guardian Pharmacy Services had a return on equity of 30.72% and a net margin of 3.64%.The company had revenue of $336.60 million for the quarter, compared to the consensus estimate of $329.89 million. During the same quarter in the prior year, the business posted $0.22 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. Research analysts anticipate that Guardian Pharmacy Services, Inc. will post 1.18 earnings per share for the current fiscal year.

Insider Activity at Guardian Pharmacy Services

In other news, insider Fred Burke sold 671,432 shares of the company’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $29.68, for a total value of $19,928,101.76. Following the completion of the sale, the insider directly owned 840,413 shares of the company’s stock, valued at $24,943,457.84. This represents a 44.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kendall Forbes sold 346,672 shares of the stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $29.68, for a total transaction of $10,289,224.96. Following the completion of the sale, the insider owned 453,256 shares in the company, valued at $13,452,638.08. This represents a 43.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 9,726,405 shares of company stock worth $288,679,700. 32.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GRDN. Ameritas Investment Partners Inc. lifted its holdings in shares of Guardian Pharmacy Services by 26.5% during the 3rd quarter. Ameritas Investment Partners Inc. now owns 1,647 shares of the company’s stock valued at $43,000 after purchasing an additional 345 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Guardian Pharmacy Services during the 2nd quarter worth approximately $43,000. Strs Ohio acquired a new stake in Guardian Pharmacy Services during the 4th quarter worth approximately $75,000. Clearstead Advisors LLC lifted its stake in Guardian Pharmacy Services by 196.3% in the fourth quarter. Clearstead Advisors LLC now owns 2,628 shares of the company’s stock valued at $79,000 after buying an additional 1,741 shares in the last quarter. Finally, State of Wyoming bought a new position in Guardian Pharmacy Services in the second quarter valued at approximately $58,000.

About Guardian Pharmacy Services

Guardian Pharmacy Services, Inc, a pharmacy service company, provides a suite of technology-enabled services designed to help residents of long-term health care facilities (LTCFs) in the United States. Its individualized clinical, drug dispensing, and administration capabilities are used to serve the needs of residents in lower acuity LTCFs, such as assisted living facilities and behavioral health facilities and group homes. The company’s Guardian Compass includes dashboards created using data from its data warehouse to help its local pharmacies plan, track, and optimize their business operations; and GuardianShield Programs for LTCFs.