Guardian Pharmacy Services (NYSE:GRDN) Hits New 52-Week High - Here's What Happened

Key Points

• Guardian Pharmacy Services (NYSE:GRDN) reached a new 52-week high at $27.44 during recent trading, reflecting a significant increase from its previous close of $26.60.
• Research analysts have upgraded GRDN’s stock, with three giving it a Buy rating, and price targets set at $28.00 following several upward revisions.
• The stock has gained 4.7%, resulting in a market capitalization of $1.76 billion and a negative PE ratio of -18.33.

Guardian Pharmacy Services, Inc. (NYSE:GRDN - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $27.34 and last traded at $27.44, with a volume of 75656 shares. The stock had previously closed at $26.60.

Wall Street Analysts Forecast Growth

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

Guardian Pharmacy Services Trading Up 1.8%

The firm has a fifty day simple moving average of $22.59 and a two-hundred day simple moving average of $22.05. The firm has a market cap of $1.82 billion and a PE ratio of -18.89.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Brown Advisory Inc. lifted its stake in shares of Guardian Pharmacy Services by 5.0% in the 2nd quarter. Brown Advisory Inc. now owns 1,682,476 shares of the company's stock valued at $35,854,000 after purchasing an additional 79,652 shares during the period. Franklin Resources Inc. lifted its stake in shares of Guardian Pharmacy Services by 32.2% in the 2nd quarter. Franklin Resources Inc. now owns 976,207 shares of the company's stock valued at $20,803,000 after purchasing an additional 237,630 shares during the period. TimesSquare Capital Management LLC purchased a new position in shares of Guardian Pharmacy Services in the 2nd quarter valued at approximately $17,351,000. J. Goldman & Co LP lifted its stake in shares of Guardian Pharmacy Services by 1.5% in the 4th quarter. J. Goldman & Co LP now owns 762,347 shares of the company's stock valued at $15,445,000 after purchasing an additional 11,263 shares during the period. Finally, Nuveen Asset Management LLC lifted its stake in shares of Guardian Pharmacy Services by 2.9% in the 4th quarter. Nuveen Asset Management LLC now owns 547,140 shares of the company's stock valued at $11,085,000 after purchasing an additional 15,550 shares during the period.

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.