Guardian Pharmacy Services (NYSE:GRDN) Shares Down 4.9% - Here's What Happened

Key Points

• Guardian Pharmacy Services shares fell 4.9% to about $39.80, while trading volume plunged 91% below the average session volume.
• Analyst sentiment remains positive: nine analysts rate the stock a Buy and one a Hold, producing a consensus “Moderate Buy” rating and an average price target of $45.57.
• The company recently exceeded quarterly expectations, reporting adjusted earnings of $0.29 per share and revenue of $351.77 million, ahead of consensus estimates of $0.26 and $340.45 million, respectively.

Guardian Pharmacy Services, Inc. (NYSE:GRDN - Get Free Report) fell 4.9% during trading on Wednesday. The stock traded as low as $39.99 and last traded at $39.8040. 36,665 shares were traded during trading, a decline of 91% from the average session volume of 426,018 shares. The stock had previously closed at $41.87.

Wall Street Analysts Forecast Growth

GRDN has been the subject of several recent analyst reports. Truist Financial boosted their price objective on Guardian Pharmacy Services from $47.00 to $51.00 and gave the stock a "buy" rating in a report on Monday, September 21st. Wall Street Zen raised Guardian Pharmacy Services from a "hold" rating to a "buy" rating in a research note on Saturday. KeyCorp began coverage on shares of Guardian Pharmacy Services in a research note on Tuesday, September 22nd. They set an "overweight" rating and a $52.00 price objective for the company. Weiss Ratings upgraded Guardian Pharmacy Services from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Finally, Oppenheimer lifted their price objective on Guardian Pharmacy Services from $43.00 to $49.00 and gave the company an "outperform" rating in a research report on Friday, August 7th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Guardian Pharmacy Services presently has a consensus rating of "Moderate Buy" and an average price target of $45.57.

Guardian Pharmacy Services Price Performance

The firm has a market cap of $1.98 billion, a PE ratio of 38.51, a PEG ratio of 2.10 and a beta of 0.03. The business has a 50-day simple moving average of $40.86 and a 200 day simple moving average of $39.94.

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

Hedge Funds Weigh In On Guardian Pharmacy Services

Institutional investors have recently modified their holdings of the stock. First Trust Advisors LP acquired a new stake in shares of Guardian Pharmacy Services in the first quarter worth $3,528,000. Dimensional Fund Advisors LP grew its holdings in shares of Guardian Pharmacy Services by 200.0% in the first quarter. Dimensional Fund Advisors LP now owns 208,594 shares of the company's stock valued at $7,855,000 after purchasing an additional 139,070 shares in the last quarter. Globeflex Capital L P purchased a new stake in shares of Guardian Pharmacy Services during the 2nd quarter worth $1,857,000. Bank of America Corp DE boosted its position in shares of Guardian Pharmacy Services by 86.1% in the 1st quarter. Bank of America Corp DE now owns 128,048 shares of the company's stock valued at $4,822,000 after purchasing an additional 59,245 shares during the period. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Guardian Pharmacy Services during the first quarter worth approximately $1,352,000.

Guardian Pharmacy Services Company Profile

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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