Wellington Management Group LLP Increases Position in Guardian Pharmacy Services, Inc. $GRDN

Key Points

• Wellington Management Group LLP increased its stake in Guardian Pharmacy Services by 14.2%, acquiring an additional 57,924 shares, bringing its total holdings to approximately 464,924 shares valued at $9.88 million.
• Multiple institutional investors have also adjusted their positions in Guardian Pharmacy Services, with Wells Fargo & Company MN increasing its holdings by 353.7% during the fourth quarter.
• Analysts have set a consensus rating of "Buy" for Guardian Pharmacy Services, with a target price averaging $25.67, and some analysts setting a price target as high as $28.00.

Wellington Management Group LLP boosted its holdings in Guardian Pharmacy Services, Inc. (NYSE:GRDN - Free Report) by 14.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 464,924 shares of the company's stock after acquiring an additional 57,924 shares during the quarter. Wellington Management Group LLP owned 0.73% of Guardian Pharmacy Services worth $9,884,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BNP Paribas Financial Markets purchased a new stake in Guardian Pharmacy Services in the 4th quarter worth approximately $37,000. JPMorgan Chase & Co. purchased a new stake in Guardian Pharmacy Services in the 4th quarter worth $77,000. Meeder Asset Management Inc. purchased a new stake in Guardian Pharmacy Services in the 1st quarter worth $88,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Guardian Pharmacy Services in the 4th quarter worth $98,000. Finally, MetLife Investment Management LLC purchased a new stake in Guardian Pharmacy Services in the 4th quarter worth $114,000.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GRDN. Raymond James Financial set a $28.00 price objective on Guardian Pharmacy Services and gave the company an "outperform" rating in a research report on Wednesday, May 14th. Wall Street Zen upgraded Guardian Pharmacy Services from a "hold" rating to a "strong-buy" rating in a research report on Sunday, August 17th. Finally, Truist Financial reissued a "buy" rating and issued a $28.00 price objective (up previously from $25.00) on shares of Guardian Pharmacy Services in a research note on Monday, May 19th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Guardian Pharmacy Services has an average rating of "Buy" and a consensus target price of $25.67.

Guardian Pharmacy Services Stock Up 1.0%

GRDN stock traded up $0.25 during trading on Tuesday, hitting $26.67. 343,266 shares of the company's stock traded hands, compared to its average volume of 257,002. The business has a fifty day simple moving average of $22.15 and a two-hundred day simple moving average of $21.87. The firm has a market capitalization of $1.69 billion and a P/E ratio of -17.55. Guardian Pharmacy Services, Inc. has a 1 year low of $14.16 and a 1 year high of $26.91.

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.