Guardian Pharmacy Services (NYSE:GRDN) Sees Unusually-High Trading Volume - Should You Buy?

Key Points

• Guardian Pharmacy Services experienced a significant increase in trading volume, with 574,309 shares traded, representing a 262% surge from the previous session.
• Analysts have mixed views on the company, with Wall Street Zen downgrading it to a "hold" rating, while Raymond James and Truist Financial maintain "outperform" and "buy" ratings with a target price of $28.00.
• Insider sales were notable, with Director John Ackerman selling over 201,000 shares, indicating a 57.34% decrease in his position, while overall, insiders have sold $228 million worth of shares in the last quarter.

Shares of Guardian Pharmacy Services, Inc. (NYSE:GRDN - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 574,309 shares were traded during mid-day trading, an increase of 262% from the previous session's volume of 158,485 shares.The stock last traded at $21.82 and had previously closed at $19.88.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GRDN shares. Wall Street Zen lowered shares of Guardian Pharmacy Services from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Truist Financial restated a "buy" rating and set a $28.00 price target (up previously from $25.00) on shares of Guardian Pharmacy Services in a report on Monday, May 19th. Finally, Raymond James Financial set a $28.00 price objective on shares of Guardian Pharmacy Services and gave the company an "outperform" rating in a research note on Wednesday, May 14th.

Guardian Pharmacy Services Trading Down 1.2%

The company has a 50 day moving average of $20.74 and a 200 day moving average of $21.49. The firm has a market cap of $1.49 billion and a price-to-earnings ratio of -15.53.

Insider Buying and Selling at Guardian Pharmacy Services

In related news, insider Fred Burke sold 747,102 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $20.16, for a total value of $15,061,576.32. Following the transaction, the insider directly owned 551,724 shares in the company, valued at $11,122,755.84. This represents a 57.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Ackerman sold 1,084,276 shares of the 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 $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 represents a 84.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,344,912 shares of company stock worth $228,713,426 over the last quarter. Corporate insiders own 63.71% of the company's stock.

Hedge Funds Weigh In On Guardian Pharmacy Services

Several institutional investors have recently modified their holdings of GRDN. BNP Paribas Financial Markets acquired a new position in shares of Guardian Pharmacy Services during the 4th quarter worth about $37,000. Parkside Financial Bank & Trust acquired a new position in shares of Guardian Pharmacy Services during the 2nd quarter worth about $41,000. Raymond James Financial Inc. acquired a new position in shares of Guardian Pharmacy Services during the 2nd quarter worth about $43,000. Police & Firemen s Retirement System of New Jersey raised its stake in Guardian Pharmacy Services by 76.8% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 2,444 shares of the company's stock worth $52,000 after buying an additional 1,062 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in Guardian Pharmacy Services during the 2nd quarter worth $75,000.

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.