Guardian Pharmacy Services (NYSE:GRDN) Trading Down 3.3% - Here's Why

Guardian Pharmacy Services, Inc. (NYSE:GRDN - Get Free Report) shares dropped 3.3% on Friday . The company traded as low as $20.51 and last traded at $20.22. Approximately 11,699 shares changed hands during trading, a decline of 93% from the average daily volume of 171,720 shares. The stock had previously closed at $20.92.

Analyst Ratings Changes

GRDN has been the topic of a number of research reports. Truist Financial reissued 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. Raymond James set a $28.00 price target on Guardian Pharmacy Services and gave the company an "outperform" rating in a research report on Wednesday, May 14th. Finally, Wall Street Zen lowered Guardian Pharmacy Services from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th.

Guardian Pharmacy Services Price Performance

The business has a 50-day simple moving average of $23.18 and a 200 day simple moving average of $21.98.

Guardian Pharmacy Services (NYSE:GRDN - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.22 by ($0.01). The firm had revenue of $329.31 million for the quarter, compared to the consensus estimate of $321.21 million. On average, equities research analysts expect that Guardian Pharmacy Services, Inc. will post 0.87 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Kendall Forbes sold 64,991 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $20.16, for a total transaction of $1,310,218.56. Following the transaction, the insider now directly owns 203,906 shares of the company's stock, valued at $4,110,744.96. This represents a 24.17% decrease in their ownership of the stock. The sale 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 3,508,905 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $20.16, for a total transaction of $70,739,524.80. Following the transaction, the director now directly owns 2,591,271 shares in the company, valued at approximately $52,240,023.36. This represents a 57.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,344,912 shares of company stock valued at $228,713,426. 63.71% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GRDN. Compass Financial Services Inc bought a new position in Guardian Pharmacy Services during the fourth quarter worth $58,000. Rhumbline Advisers bought a new position in Guardian Pharmacy Services in the fourth quarter worth approximately $149,000. New York State Common Retirement Fund boosted its holdings in Guardian Pharmacy Services by 17.9% in the fourth quarter. New York State Common Retirement Fund now owns 278,548 shares of the company's stock worth $5,643,000 after acquiring an additional 42,368 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Guardian Pharmacy Services in the fourth quarter worth approximately $276,000. Finally, Charles Schwab Investment Management Inc. bought a new position in Guardian Pharmacy Services in the fourth quarter worth approximately $544,000.

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.