Guardian Pharmacy Services (NYSE:GRDN) Upgraded at Wall Street Zen

Key Points

• Guardian Pharmacy Services (NYSE:GRDN) has received an upgrade from a "hold" rating to a "strong-buy" rating from Wall Street Zen, signaling positive confidence from analysts.
• Truist Financial and Raymond James have set a price target of $28.00 for the stock, reflecting an increase from previous targets.
• Recent insider activity includes significant share sales by directors, with a total of 11.34 million shares sold in the last three months, amounting to over $228 million.

Wall Street Zen upgraded shares of Guardian Pharmacy Services (NYSE:GRDN - Free Report) from a hold rating to a strong-buy rating in a report released on Sunday.

A number of other equities analysts have also recently commented on GRDN. Truist Financial reaffirmed a "buy" rating and issued a $28.00 price target (up from $25.00) on shares of Guardian Pharmacy Services in a research note on Monday, May 19th. Raymond James Financial set a $28.00 price target on Guardian Pharmacy Services and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $25.67.

Guardian Pharmacy Services Stock Up 0.7%

Shares of NYSE GRDN traded up $0.1870 during trading hours on Friday, reaching $26.2370. 278,176 shares of the stock traded hands, compared to its average volume of 196,698. The company has a market capitalization of $1.66 billion and a P/E ratio of -17.26. Guardian Pharmacy Services has a 52-week low of $14.16 and a 52-week high of $26.91. The company's 50-day simple moving average is $21.16 and its two-hundred day simple moving average is $21.59.

Insider Activity at Guardian Pharmacy Services

In related news, Director Thomas J. Salentine, Jr. sold 651,454 shares of Guardian Pharmacy Services stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $20.16, for a total transaction of $13,133,312.64. Following the sale, the director directly owned 1,939,817 shares in the company, valued at $39,106,710.72. The trade was a 25.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William E. Bindley sold 651,454 shares of Guardian Pharmacy Services stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $20.16, for a total value of $13,133,312.64. Following the sale, the director owned 1,939,817 shares in the company, valued at $39,106,710.72. This represents a 25.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,344,912 shares of company stock valued at $228,713,426 over the last ninety days. Insiders own 63.71% of the company's stock.

Institutional Investors Weigh In On Guardian Pharmacy Services

Several hedge funds have recently made changes to their positions in the company. State of Wyoming bought a new stake in shares of Guardian Pharmacy Services during the second quarter valued at approximately $58,000. State of Tennessee Department of Treasury bought a new stake in shares of Guardian Pharmacy Services during the second quarter valued at approximately $186,000. Man Group plc bought a new stake in shares of Guardian Pharmacy Services during the second quarter valued at approximately $626,000. Lazard Asset Management LLC boosted its position in shares of Guardian Pharmacy Services by 53.3% during the second quarter. Lazard Asset Management LLC now owns 296,659 shares of the company's stock valued at $6,321,000 after purchasing an additional 103,146 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new stake in shares of Guardian Pharmacy Services during the second quarter valued at approximately $733,000.

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.