Guardian Pharmacy Services (NYSE:GRDN) Share Price Breaks Above 50 Day Moving Average - Here's Why

Key Points

• Guardian Pharmacy shares rose above their 50-day moving average, trading as high as $43.10 versus the average of $41.28, and last changed hands at $42.04.
• Analyst sentiment is broadly positive: nine analysts rate the stock Buy and one Hold, giving it a consensus “Moderate Buy” rating and a $45.57 average price target.
• The company beat quarterly estimates, reporting EPS of $0.29 versus $0.26 expected and revenue of $351.77 million versus $340.45 million forecast.

Shares of Guardian Pharmacy Services, Inc. (NYSE:GRDN - Get Free Report) crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $41.28 and traded as high as $43.10. Guardian Pharmacy Services shares last traded at $42.0350, with a volume of 658,227 shares traded.

Analysts Set New Price Targets

GRDN has been the topic of a number of recent research reports. KeyCorp began coverage on Guardian Pharmacy Services in a research report on Tuesday, September 22nd. They issued an "overweight" rating and a $52.00 target price on the stock. Oppenheimer upped their price target on Guardian Pharmacy Services from $43.00 to $49.00 and gave the stock an "outperform" rating in a research report on Friday, August 7th. Wall Street Zen cut shares of Guardian Pharmacy Services from a "buy" rating to a "hold" rating in a research note on Sunday, October 25th. Weiss Ratings cut shares of Guardian Pharmacy Services from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, October 23rd. Finally, Truist Financial lifted their price objective on shares of Guardian Pharmacy Services from $47.00 to $51.00 and gave the company a "buy" rating in a report on Monday, September 21st. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Guardian Pharmacy Services currently has an average rating of "Moderate Buy" and a consensus price target of $45.57.

Guardian Pharmacy Services Price Performance

The business has a 50-day simple moving average of $41.28 and a two-hundred day simple moving average of $38.17. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 40.81, a P/E/G ratio of 2.13 and a beta of 0.06.

Guardian Pharmacy Services (NYSE:GRDN - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.03. Guardian Pharmacy Services had a return on equity of 29.97% and a net margin of 4.50%. The firm had revenue of $351.77 million for the quarter, compared to analyst estimates of $340.45 million. As a group, equities analysts anticipate that Guardian Pharmacy Services, Inc. will post 1.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Guardian Pharmacy Services

Large investors have recently added to or reduced their stakes in the business. Jennison Associates LLC grew its holdings in Guardian Pharmacy Services by 609.5% in the 1st quarter. Jennison Associates LLC now owns 822,784 shares of the company's stock valued at $30,986,000 after buying an additional 706,823 shares in the last quarter. Braun Stacey Associates Inc. bought a new stake in shares of Guardian Pharmacy Services in the second quarter valued at approximately $14,234,000. Sei Investments Co. grew its position in Guardian Pharmacy Services by 40.5% during the first quarter. Sei Investments Co. now owns 358,181 shares of the company's stock worth $13,489,000 after buying an additional 103,177 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Guardian Pharmacy Services by 200.0% during the first quarter. Dimensional Fund Advisors LP now owns 208,594 shares of the company's stock worth $7,855,000 after buying an additional 139,070 shares in the last quarter. Finally, Ranger Investment Management L.P. bought a new position in Guardian Pharmacy Services during the 2nd quarter worth $7,263,000.

About Guardian Pharmacy Services

Guardian Pharmacy Services, Inc is a provider of pharmacy services focused primarily on residents of long-term care and other institutional healthcare settings. Through its network of pharmacies, the company supplies prescription medications and related pharmacy support to assisted living communities, skilled nursing facilities, behavioral health organizations, and other care providers.

The company's services include medication dispensing and packaging, prescription delivery, medication management, clinical pharmacy support, and technology-enabled tools designed to help caregivers and healthcare professionals manage residents' medication regimens.

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