Guardian Pharmacy Services (NYSE:GRDN) Stock Price Down 3.3% - Time to Sell?

Guardian Pharmacy Services, Inc. (NYSE:GRDN - Get Free Report)'s share price traded down 3.3% during mid-day trading on Friday . The stock traded as low as $20.51 and last traded at $20.22. 11,699 shares were traded during mid-day trading, a decline of 93% from the average session volume of 171,720 shares. The stock had previously closed at $20.92.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Guardian Pharmacy Services from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Truist Financial reissued a "buy" rating and issued a $28.00 target price (up from $25.00) on shares of Guardian Pharmacy Services in a report on Monday, May 19th. Finally, Raymond James set a $28.00 target price on shares of Guardian Pharmacy Services and gave the stock an "outperform" rating in a report on Wednesday, May 14th.

Guardian Pharmacy Services Stock Down 1.3%

The company's fifty day moving average is $23.20 and its 200-day moving average is $22.00.

Guardian Pharmacy Services (NYSE:GRDN - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). The business had revenue of $329.31 million during the quarter, compared to analyst estimates of $321.21 million. As a group, analysts predict that Guardian Pharmacy Services, Inc. will post 0.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director John Ackerman sold 1,084,276 shares of the 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 now directly owns 200,099 shares in the company, valued at approximately $4,033,995.84. This represents a 84.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William E. Bindley sold 651,454 shares of the 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 transaction, the director now owns 1,939,817 shares of the company's stock, 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 11,344,912 shares of company stock worth $228,713,426 in the last three months. 63.71% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Woodline Partners LP boosted its position in shares of Guardian Pharmacy Services by 1.5% during the 1st quarter. Woodline Partners LP now owns 421,203 shares of the company's stock valued at $8,955,000 after acquiring an additional 6,083 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Guardian Pharmacy Services in the first quarter worth $233,000. Wellington Management Group LLP lifted its position in Guardian Pharmacy Services by 14.2% in the first quarter. Wellington Management Group LLP now owns 464,924 shares of the company's stock worth $9,884,000 after buying an additional 57,924 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Guardian Pharmacy Services by 23.4% in the first quarter. Russell Investments Group Ltd. now owns 90,401 shares of the company's stock worth $1,922,000 after buying an additional 17,160 shares during the last quarter. Finally, Premier Fund Managers Ltd bought a new stake in Guardian Pharmacy Services in the first quarter worth $435,000.

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.