Guardian Pharmacy Services (NYSE:GRDN) Shares Gap Up - Here's Why

Guardian Pharmacy Services, Inc. (NYSE:GRDN - Get Free Report)'s share price gapped up before the market opened on Thursday . The stock had previously closed at $22.06, but opened at $22.86. Guardian Pharmacy Services shares last traded at $21.98, with a volume of 9,999 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on GRDN shares. Truist Financial reiterated 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. Wall Street Zen downgraded Guardian Pharmacy Services from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Raymond James set a $28.00 price target on Guardian Pharmacy Services and gave the stock an "outperform" rating in a report on Wednesday, May 14th.

Guardian Pharmacy Services Price Performance

The business has a 50 day simple moving average of $23.12 and a 200-day simple moving average of $21.99.

Guardian Pharmacy Services (NYSE:GRDN - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.22 by ($0.01). The business had revenue of $329.31 million during the quarter, compared to analysts' expectations 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.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. bought a new position in Guardian Pharmacy Services in the 4th quarter valued at $544,000. Rhumbline Advisers bought a new position in shares of Guardian Pharmacy Services during the 4th quarter worth $149,000. New York State Common Retirement Fund grew its stake in shares of Guardian Pharmacy Services by 17.9% during the 4th 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 during the period. Wells Fargo & Company MN grew its stake in shares of Guardian Pharmacy Services by 353.7% during the 4th quarter. Wells Fargo & Company MN now owns 6,715 shares of the company's stock worth $136,000 after acquiring an additional 5,235 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of Guardian Pharmacy Services by 364.6% during the 4th quarter. Russell Investments Group Ltd. now owns 73,241 shares of the company's stock worth $1,484,000 after acquiring an additional 57,475 shares during the period.

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.