Guardian Pharmacy Services (NYSE:GRDN) Insider Kendall Forbes Sells 346,672 Shares

Guardian Pharmacy Services, Inc. (NYSE:GRDN) insider Kendall Forbes sold 346,672 shares of the firm’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $29.68, for a total value of $10,289,224.96. Following the transaction, the insider directly owned 453,256 shares of the company’s stock, valued at approximately $13,452,638.08. This represents a 43.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Guardian Pharmacy Services Trading Down 2.8%

NYSE GRDN opened at $36.52 on Thursday. The business’s 50-day moving average price is $32.62 and its two-hundred day moving average price is $29.87. Guardian Pharmacy Services, Inc. has a 12 month low of $19.17 and a 12 month high of $38.12. The firm has a market capitalization of $2.31 billion, a PE ratio of 47.43 and a beta of 0.86.

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

Analysts Set New Price Targets

Several research firms have issued reports on GRDN. Truist Financial raised their price target 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. Raymond James Financial reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of Guardian Pharmacy Services in a research note on Thursday, March 12th. UBS Group reiterated a “buy” rating on shares of Guardian Pharmacy Services in a research report on Thursday, March 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of Guardian Pharmacy Services in a research note on Monday, December 29th. Finally, Stephens boosted their target price on shares of Guardian Pharmacy Services from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Guardian Pharmacy Services presently has a consensus rating of “Buy” and a consensus price target of $38.00.

Guardian Pharmacy Services News Summary

Here are the key news stories impacting Guardian Pharmacy Services this week:

• Neutral Sentiment: Market writeup noting broad insider activity at Guardian Pharmacy Services; useful context but not new filings. TipRanks article
• Negative Sentiment: Director Thomas J. Salentine, Jr. sold 3,570,677 shares at an average $29.68 (≈$106.0M). Filing: SEC filing
• Negative Sentiment: Director William E. Bindley sold 3,570,677 shares at $29.68 (≈$106.0M). Filing: SEC filing
• Negative Sentiment: Director John Ackerman sold 1,103,364 shares at $29.68 (≈$32.7M). Filing: SEC filing
• Negative Sentiment: Director/officer Fred Burke sold 671,432 shares at $29.68 (≈$19.9M). Filing: SEC filing
• Negative Sentiment: Insider Kendall Forbes sold 346,672 shares at $29.68 (≈$10.3M). Filing: SEC filing
• Negative Sentiment: Insider David K. Morris sold 187,855 shares at $29.68 (≈$5.6M). Filing: SEC filing
• Negative Sentiment: Major shareholder Equity Fund L.P. Cardinal sold 275,728 shares at $29.68 (≈$8.2M), a ~44% reduction in its stake. Filing: SEC filing

Institutional Investors Weigh In On Guardian Pharmacy Services

A number of hedge funds have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. lifted its stake in Guardian Pharmacy Services by 26.5% in the third quarter. Ameritas Investment Partners Inc. now owns 1,647 shares of the company’s stock valued at $43,000 after buying an additional 345 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Guardian Pharmacy Services by 3.4% during the 4th quarter. California State Teachers Retirement System now owns 17,983 shares of the company’s stock worth $541,000 after buying an additional 593 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Guardian Pharmacy Services by 7.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 12,126 shares of the company’s stock worth $258,000 after buying an additional 805 shares during the period. Police & Firemen s Retirement System of New Jersey grew its position in shares of Guardian Pharmacy Services by 20.4% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 6,070 shares of the company’s stock worth $183,000 after buying an additional 1,028 shares during the period. Finally, State of Alaska Department of Revenue bought a new stake in shares of Guardian Pharmacy Services in the 3rd quarter valued at $30,000.

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.