Truist Financial Issues Positive Forecast for Guardian Pharmacy Services (NYSE:GRDN) Stock Price

Key Points

• Truist Financial raised Guardian Pharmacy Services’ price target from $47 to $51 while maintaining a “Buy” rating, implying 13.28% potential upside from the stock’s current price.
• Analyst sentiment remains favorable, with eight Buy ratings and one Hold rating; the consensus rating is “Moderate Buy” with a $44.50 price target.
• Guardian recently exceeded quarterly expectations, reporting $0.29 in earnings per share versus a $0.26 estimate and revenue of $351.77 million compared with the $340.45 million consensus.

Guardian Pharmacy Services (NYSE:GRDN - Get Free Report) had its price objective raised by stock analysts at Truist Financial from $47.00 to $51.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's target price indicates a potential upside of 13.28% from the stock's current price.

A number of other brokerages have also recently issued reports on GRDN. Wall Street Zen cut shares of Guardian Pharmacy Services from a "buy" rating to a "hold" rating in a research report on Saturday. Weiss Ratings upgraded shares of Guardian Pharmacy Services from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, August 20th. Bank of America raised their target price on Guardian Pharmacy Services from $42.00 to $47.00 and gave the stock a "buy" rating in a research report on Wednesday, June 17th. Finally, Oppenheimer raised their price target on shares of Guardian Pharmacy Services from $43.00 to $49.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $44.50.

Guardian Pharmacy Services Price Performance

Shares of Guardian Pharmacy Services stock opened at $45.02 on Monday. The firm has a 50 day simple moving average of $40.48 and a 200 day simple moving average of $38.92. The firm has a market cap of $2.24 billion, a P/E ratio of 43.71, a P/E/G ratio of 2.33 and a beta of 0.06. Guardian Pharmacy Services has a fifty-two week low of $23.14 and a fifty-two week high of $48.33.

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

Hedge Funds Weigh In On Guardian Pharmacy Services

A number of large investors have recently made changes to their positions in GRDN. Jennison Associates LLC increased its stake in Guardian Pharmacy Services by 609.5% in the 1st quarter. Jennison Associates LLC now owns 822,784 shares of the company's stock worth $30,986,000 after purchasing an additional 706,823 shares during the period. Braun Stacey Associates Inc. purchased a new position in shares of Guardian Pharmacy Services during the second quarter valued at approximately $14,234,000. Ranger Investment Management L.P. purchased a new position in Guardian Pharmacy Services in the 2nd quarter worth approximately $7,263,000. Dimensional Fund Advisors LP raised its holdings in shares of Guardian Pharmacy Services by 200.0% during the first quarter. Dimensional Fund Advisors LP now owns 208,594 shares of the company's stock valued at $7,855,000 after purchasing an additional 139,070 shares during the last quarter. Finally, Sei Investments Co. grew its position in Guardian Pharmacy Services by 40.5% during the first quarter. Sei Investments Co. now owns 358,181 shares of the company's stock valued at $13,489,000 after buying an additional 103,177 shares during the period.

Guardian Pharmacy Services Company Profile

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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