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

Key Points

• Guardian Pharmacy Services has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, reflecting changes in market analyst sentiment.
• The company reported earnings of $0.21 per share, missing estimates of $0.22, but achieved revenue of $329.31 million, surpassing expectations of $321.21 million.
• Significant insider selling occurred recently, with a director selling over 651,000 shares valued at approximately $13.1 million, indicating potential concerns within the company.

Wall Street Zen cut shares of Guardian Pharmacy Services (NYSE:GRDN - Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Several other analysts have also recently weighed in on the stock. Raymond James Financial set a $28.00 price objective on shares of Guardian Pharmacy Services and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. Truist Financial restated a "buy" rating and issued a $28.00 target price (up from $25.00) on shares of Guardian Pharmacy Services in a research report on Monday, May 19th.

Guardian Pharmacy Services Price Performance

Guardian Pharmacy Services stock traded down $0.13 during midday trading on Friday, hitting $19.84. The company's stock had a trading volume of 137,846 shares, compared to its average volume of 156,755. Guardian Pharmacy Services has a 1-year low of $14.16 and a 1-year high of $26.91. The company has a 50-day moving average price of $20.59 and a two-hundred day moving average price of $21.46.

Guardian Pharmacy Services (NYSE:GRDN - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.04). Analysts forecast that Guardian Pharmacy Services will post 0.87 EPS for the current year.

Insider Buying and Selling

In related news, insider Fred Burke sold 747,102 shares of Guardian Pharmacy Services stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $20.16, for a total transaction of $15,061,576.32. Following the sale, the insider directly owned 551,724 shares of the company's stock, valued at approximately $11,122,755.84. The trade was a 57.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Ackerman sold 1,084,276 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $20.16, for a total transaction of $21,859,004.16. Following the completion of the transaction, the director owned 200,099 shares in the company, valued at $4,033,995.84. This trade represents a 84.42% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,344,912 shares of company stock worth $228,713,426. 63.71% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of GRDN. Brown Advisory Inc. acquired a new position in Guardian Pharmacy Services during the fourth quarter worth $32,294,000. TimesSquare Capital Management LLC acquired a new position in Guardian Pharmacy Services during the second quarter worth $17,351,000. Boston Partners acquired a new position in Guardian Pharmacy Services during the second quarter worth $4,227,000. Geode Capital Management LLC acquired a new position in Guardian Pharmacy Services during the fourth quarter worth $4,073,000. Finally, Renaissance Technologies LLC acquired a new position in Guardian Pharmacy Services during the fourth quarter worth $2,859,000.

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.