Insider Selling: Guardian Pharmacy Services (NYSE:GRDN) Major Shareholder Sells 270,958 Shares of Stock

Key Points

• Equity Fund L.P. Cardinal sold 270,958 shares of Guardian Pharmacy Services stock at an average price of $20.16, significantly reducing their ownership by 57.52%.
• Despite the insider selling, Guardian Pharmacy Services saw a 0.7% increase in stock price during trading, reaching $26.26.
• Analysts have recently upgraded the stock, with Truist Financial raising their price target from $28.00 to $30.00 and a consensus rating of "Buy" among three analysts.

Guardian Pharmacy Services, Inc. (NYSE:GRDN - Get Free Report) major shareholder Equity Fund L.P. Cardinal sold 270,958 shares of Guardian Pharmacy Services stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $20.16, for a total transaction of $5,462,513.28. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Guardian Pharmacy Services Trading Up 0.7%

NYSE:GRDN traded up $0.19 during mid-day trading on Tuesday, hitting $26.26. The stock had a trading volume of 354,854 shares, compared to its average volume of 200,214. The stock has a market capitalization of $1.66 billion and a price-to-earnings ratio of -17.28. The company has a 50 day simple moving average of $24.68 and a 200-day simple moving average of $22.96. Guardian Pharmacy Services, Inc. has a 52 week low of $16.10 and a 52 week high of $30.39.

Institutional Trading of Guardian Pharmacy Services

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Brown Advisory Inc. raised its holdings 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 worth $35,854,000 after purchasing an additional 79,652 shares in the last quarter. Franklin Resources Inc. raised its holdings 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 worth $20,803,000 after purchasing an additional 237,630 shares in the last quarter. TimesSquare Capital Management LLC bought a new stake in shares of Guardian Pharmacy Services in the 2nd quarter worth approximately $17,351,000. Wellington Management Group LLP raised its holdings in shares of Guardian Pharmacy Services by 14.2% during the first quarter. Wellington Management Group LLP now owns 464,924 shares of the company's stock valued at $9,884,000 after acquiring an additional 57,924 shares during the period. Finally, Woodline Partners LP raised its holdings in shares of Guardian Pharmacy Services by 1.5% during the first 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 period.

Analyst Upgrades and Downgrades

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

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.

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