Guardian Pharmacy Services (NYSE:GRDN) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Guardian Pharmacy Services from “Buy” to “Hold,” while Zacks Research and Weiss Ratings also recently lowered their assessments.
• Despite the downgrades, the broader analyst view remains positive: seven analysts rate GRDN a Buy and two rate it a Hold, producing a “Moderate Buy” consensus and an average price target of $42.83.
• Guardian exceeded quarterly expectations, reporting $0.29 in earnings per share versus $0.24 expected and revenue of $336.6 million versus $329.89 million estimated; revenue rose 2.2% year over year.

Guardian Pharmacy Services (NYSE:GRDN - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

GRDN has been the subject of several other reports. Zacks Research cut shares of Guardian Pharmacy Services from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. Truist Financial increased their price target on Guardian Pharmacy Services from $43.00 to $47.00 and gave the company a "buy" rating in a research note on Wednesday, June 17th. Weiss Ratings downgraded Guardian Pharmacy Services from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, May 11th. Oppenheimer raised their target price on Guardian Pharmacy Services from $38.00 to $43.00 and gave the company an "outperform" rating in a research note on Thursday, May 7th. Finally, Bank of America boosted their price target 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. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Guardian Pharmacy Services presently has a consensus rating of "Moderate Buy" and an average target price of $42.83.

Guardian Pharmacy Services Price Performance

Shares of Guardian Pharmacy Services stock opened at $39.43 on Friday. The business's fifty day moving average price is $40.72 and its two-hundred day moving average price is $36.71. The company has a market capitalization of $1.96 billion, a P/E ratio of 47.50, a PEG ratio of 2.70 and a beta of 0.05. Guardian Pharmacy Services has a 1-year low of $19.30 and a 1-year high of $44.00.

Guardian Pharmacy Services (NYSE:GRDN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.29 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.05. The company had revenue of $336.60 million for the quarter, compared to analyst estimates of $329.89 million. Guardian Pharmacy Services had a return on equity of 30.72% and a net margin of 3.64%.The company's quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company earned $0.22 earnings per share. On average, research analysts expect that Guardian Pharmacy Services will post 1.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Guardian Pharmacy Services

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

Guardian Pharmacy Services Company Profile

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.

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