Bank of America Raises Guardian Pharmacy Services (NYSE:GRDN) Price Target to $47.00

Guardian Pharmacy Services (NYSE:GRDN) had its target price upped by equities researchers at Bank of America from $42.00 to $47.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price target suggests a potential upside of 10.35% from the stock’s current price.

Several other research analysts also recently weighed in on the stock. Wall Street Zen downgraded shares of Guardian Pharmacy Services from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Raymond James Financial reaffirmed an “outperform” rating and issued a $40.00 target price on shares of Guardian Pharmacy Services in a report on Thursday, March 12th. Jefferies Financial Group began coverage on Guardian Pharmacy Services in a research note on Monday, March 30th. They issued a “buy” rating and a $44.00 price target for the company. Truist Financial upped their price target on Guardian Pharmacy Services from $38.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Finally, Weiss Ratings downgraded Guardian Pharmacy Services from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.17.

Guardian Pharmacy Services Price Performance

GRDN opened at $42.59 on Wednesday. The company has a 50 day simple moving average of $38.42 and a two-hundred day simple moving average of $34.31. The firm has a market cap of $2.12 billion, a P/E ratio of 51.32, a PEG ratio of 2.81 and a beta of 0.08. Guardian Pharmacy Services has a 1-year low of $19.30 and a 1-year high of $43.96.

Guardian Pharmacy Services (NYSE:GRDN) last released its earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. The company had revenue of $336.60 million for the quarter, compared to analysts’ expectations of $329.89 million. Guardian Pharmacy Services had a net margin of 3.64% and a return on equity of 30.72%. Guardian Pharmacy Services’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.22 EPS. Equities analysts anticipate that Guardian Pharmacy Services will post 1.18 earnings per share for the current year.

Insider Buying and Selling at Guardian Pharmacy Services

In other news, Director John Ackerman sold 1,103,364 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $29.68, for a total transaction of $32,747,843.52. Following the sale, the director directly owned 345,123 shares of the company’s stock, valued at $10,243,250.64. This represents a 76.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Fred Burke sold 671,432 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $29.68, for a total value of $19,928,101.76. Following the sale, the insider directly owned 840,413 shares in the company, valued at $24,943,457.84. This trade represents a 44.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 9,726,405 shares of company stock worth $288,679,700. Company insiders own 32.96% of the company’s stock.

Institutional Trading of Guardian Pharmacy Services

Hedge funds have recently modified their holdings of the company. Boston Partners raised its holdings in Guardian Pharmacy Services by 418.7% during the 3rd quarter. Boston Partners now owns 1,046,877 shares of the company’s stock valued at $26,922,000 after buying an additional 845,048 shares during the period. Jennison Associates LLC increased its stake in Guardian Pharmacy Services by 609.5% in the first quarter. Jennison Associates LLC now owns 822,784 shares of the company’s stock worth $30,986,000 after purchasing an additional 706,823 shares during the period. Loomis Sayles & Co. L P purchased a new stake in Guardian Pharmacy Services in the fourth quarter worth $19,126,000. Millennium Management LLC increased its stake in Guardian Pharmacy Services by 725.2% in the third quarter. Millennium Management LLC now owns 342,038 shares of the company’s stock worth $8,972,000 after purchasing an additional 300,587 shares during the period. Finally, Aristotle Capital Boston LLC increased its stake in Guardian Pharmacy Services by 58.5% in the third quarter. Aristotle Capital Boston LLC now owns 649,463 shares of the company’s stock worth $17,035,000 after purchasing an additional 239,790 shares during the period.

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. The company’s Guardian Compass includes dashboards created using data from its data warehouse to help its local pharmacies plan, track, and optimize their business operations; and GuardianShield Programs for LTCFs.