Guardian Pharmacy Services (NYSE:GRDN) Sees Large Volume Increase After Analyst Upgrade

Shares of Guardian Pharmacy Services, Inc. (NYSE:GRDN) saw unusually-high trading volume on Thursday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. Approximately 936,322 shares traded hands during mid-day trading, an increase of 240% from the previous session’s volume of 275,728 shares.The stock last traded at $33.3210 and had previously closed at $33.91.

A number of other research analysts have also commented on GRDN. Stephens upped their target price on Guardian Pharmacy Services from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. UBS Group reiterated a “buy” rating on shares of Guardian Pharmacy Services in a research note on Thursday, March 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of Guardian Pharmacy Services in a report on Monday, December 29th. Raymond James Financial restated an “outperform” rating and issued a $40.00 price objective on shares of Guardian Pharmacy Services in a research note on Thursday, March 12th. Finally, Truist Financial raised their price objective on shares of Guardian Pharmacy Services from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $38.00.

Hedge Funds Weigh In On Guardian Pharmacy Services

Hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. boosted its stake in Guardian Pharmacy Services by 35.6% in the 4th quarter. Invesco Ltd. now owns 14,175 shares of the company’s stock valued at $427,000 after buying an additional 3,718 shares in the last quarter. XTX Topco Ltd acquired a new position in Guardian Pharmacy Services during the fourth quarter worth $348,000. Valiant Capital Management L.P. lifted its holdings in shares of Guardian Pharmacy Services by 15.8% during the fourth quarter. Valiant Capital Management L.P. now owns 1,232,463 shares of the company’s stock valued at $37,085,000 after acquiring an additional 167,741 shares during the period. Susquehanna Portfolio Strategies LLC bought a new position in shares of Guardian Pharmacy Services during the fourth quarter valued at $333,000. Finally, Occudo Quantitative Strategies LP boosted its stake in shares of Guardian Pharmacy Services by 94.8% in the 4th quarter. Occudo Quantitative Strategies LP now owns 31,266 shares of the company’s stock valued at $941,000 after purchasing an additional 15,218 shares in the last quarter.

Guardian Pharmacy Services Stock Performance

The company’s 50 day moving average price is $32.25 and its 200 day moving average price is $29.67. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 46.02 and a beta of 0.86.

Guardian Pharmacy Services (NYSE:GRDN) last announced its earnings results on Wednesday, March 11th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.10. The business had revenue of $397.62 million during the quarter, compared to analysts’ expectations of $390.04 million. Guardian Pharmacy Services had a net margin of 3.40% and a return on equity of 31.64%. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, analysts predict that Guardian Pharmacy Services, Inc. will post 0.87 EPS for the current year.

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. 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.