Guardian Pharmacy Services (NYSE:GRDN) Stock Rating Upgraded by KeyCorp

Key Points

• KeyCorp upgraded Guardian Pharmacy Services to “strong buy,” adding to a generally positive analyst outlook. The stock has an average “buy” rating and a consensus price target of $45.57.
• Guardian reported quarterly earnings of $0.29 per share, exceeding the $0.26 consensus estimate, while revenue of $351.77 million also topped expectations.
• GRDN opened at $44.57 and trades near its 52-week high of $48.33, with a $2.22 billion market capitalization. Several institutional investors, including Arizona State Retirement System, recently increased or initiated positions.

Guardian Pharmacy Services (NYSE:GRDN - Get Free Report) was upgraded by research analysts at KeyCorp to a "strong-buy" rating in a report released on Tuesday, Zacks reports.

GRDN has been the subject of several other research reports. Wall Street Zen lowered shares of Guardian Pharmacy Services from a "buy" rating to a "hold" rating in a research note on Saturday. Bank of America boosted their target price on shares of Guardian Pharmacy Services from $42.00 to $47.00 and gave the stock a "buy" rating in a research report on Wednesday, June 17th. Oppenheimer lifted their price objective on shares of Guardian Pharmacy Services from $43.00 to $49.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th. Weiss Ratings raised Guardian Pharmacy Services from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, August 20th. Finally, Truist Financial increased their price objective on Guardian Pharmacy Services from $47.00 to $51.00 and gave the company a "buy" rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $45.57.

Guardian Pharmacy Services Stock Performance

NYSE GRDN opened at $44.57 on Tuesday. Guardian Pharmacy Services has a fifty-two week low of $23.14 and a fifty-two week high of $48.33. The company has a market cap of $2.22 billion, a P/E ratio of 43.27, a P/E/G ratio of 2.29 and a beta of 0.06. The business's 50 day moving average price is $40.66 and its 200-day moving average price is $39.06.

Guardian Pharmacy Services (NYSE:GRDN - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.03. The firm had revenue of $351.77 million for the quarter, compared to the consensus estimate of $340.45 million. Guardian Pharmacy Services had a return on equity of 29.97% and a net margin of 4.50%. As a group, equities analysts predict that Guardian Pharmacy Services will post 1.19 EPS for the current year.

Institutional Investors Weigh In On Guardian Pharmacy Services

A number of large investors have recently made changes to their positions in GRDN. Clearstead Advisors LLC increased its position in Guardian Pharmacy Services by 196.3% during the fourth quarter. Clearstead Advisors LLC now owns 2,628 shares of the company's stock worth $79,000 after purchasing an additional 1,741 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new position in Guardian Pharmacy Services in the first quarter valued at approximately $253,000. Stephens Inc. AR acquired a new position in shares of Guardian Pharmacy Services during the first quarter worth approximately $282,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Guardian Pharmacy Services during the second quarter valued at approximately $335,000. Finally, Arizona State Retirement System raised its holdings in shares of Guardian Pharmacy Services by 53.0% in the 2nd quarter. Arizona State Retirement System now owns 8,393 shares of the company's stock worth $351,000 after purchasing an additional 2,907 shares in the last quarter.

About Guardian Pharmacy Services

Guardian Pharmacy Services, Inc is a long-term care pharmacy company that provides prescription medications and related pharmacy services to residents of assisted living communities, skilled nursing facilities, memory care centers and other institutional care settings.

The company's services include medication dispensing and packaging, prescription delivery, medication management, pharmacy consulting and clinical support. Guardian works with care providers, residents and their families to help coordinate medication regimens, improve adherence and support the ongoing pharmacy needs of patients who may require complex or recurring treatments.

Guardian Pharmacy Services operates through a network of community-based pharmacies serving long-term care customers in multiple U.S.

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