Guardian Pharmacy Services (NYSE:GRDN) Trading Down 5.4% on Insider Selling

Key Points

• Guardian Pharmacy Services (NYSE:GRDN) shares fell 5.4% following significant insider selling, with 140,639 shares traded, marking a 30% decline in trading volume compared to average sessions.
• Major shareholder Equity Fund L.P. Cardinal sold more than 321,000 shares recently, resulting in a substantial decrease in their ownership position of the company.
• Despite the insider selling, several analysts have maintained a "buy" rating for the stock, with Truist Financial increasing its price target from $28.00 to $30.00.

Guardian Pharmacy Services, Inc. (NYSE:GRDN - Get Free Report) shares traded down 5.4% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $24.81 and last traded at $24.82. 140,639 shares were traded during mid-day trading, a decline of 30% from the average session volume of 199,835 shares. The stock had previously closed at $26.23.

Specifically, major shareholder Equity Fund L.P. Cardinal sold 50,305 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $20.16, for a total transaction of $1,014,148.80. Following the completion of the sale, the insider directly owned 149,794 shares in the company, valued at approximately $3,019,847.04. The trade was a 25.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Equity Fund L.P. Cardinal sold 270,958 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $20.16, for a total value of $5,462,513.28. Following the transaction, the insider owned 200,099 shares in the company, valued at approximately $4,033,995.84. This represents a 57.52% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Truist Financial increased their price objective on Guardian Pharmacy Services from $28.00 to $30.00 and gave the stock a "buy" rating in a research report on Friday, September 26th. Wall Street Zen upgraded Guardian Pharmacy Services from a "hold" rating to a "strong-buy" rating in a research note on Sunday, August 17th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $26.33.

Guardian Pharmacy Services Stock Down 5.7%

The stock has a market cap of $1.57 billion and a PE ratio of -16.34. The firm has a fifty day moving average of $24.80 and a 200 day moving average of $22.98.

Institutional Trading of Guardian Pharmacy Services

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC acquired a new position in Guardian Pharmacy Services in the 1st quarter valued at about $170,000. BNP Paribas Financial Markets purchased a new stake in shares of Guardian Pharmacy Services during the 4th quarter worth approximately $37,000. Parkside Financial Bank & Trust purchased a new stake in shares of Guardian Pharmacy Services during the 2nd quarter worth approximately $41,000. Raymond James Financial Inc. purchased a new stake in Guardian Pharmacy Services in the 2nd quarter valued at approximately $43,000. Finally, Police & Firemen s Retirement System of New Jersey lifted its stake in Guardian Pharmacy Services by 76.8% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 2,444 shares of the company's stock valued at $52,000 after buying an additional 1,062 shares in the last quarter.

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.

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