Guardian Pharmacy Services (NYSE:GRDN) Shares Down 5.9% – Time to Sell?

Guardian Pharmacy Services, Inc. (NYSE:GRDN)’s share price dropped 5.9% on Friday . The company traded as low as $23.64 and last traded at $23.68. Approximately 66,701 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 156,321 shares. The stock had previously closed at $25.17.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GRDN. Raymond James assumed coverage on shares of Guardian Pharmacy Services in a report on Monday, October 21st. They set an “outperform” rating and a $21.00 target price on the stock. Stephens initiated coverage on Guardian Pharmacy Services in a research note on Tuesday, October 22nd. They set an “overweight” rating and a $21.00 price objective on the stock. Finally, Truist Financial increased their price objective on Guardian Pharmacy Services from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, November 15th.

Guardian Pharmacy Services Stock Performance

The company has a fifty day simple moving average of $20.63.

Guardian Pharmacy Services (NYSE:GRDN) last announced its earnings results on Tuesday, November 12th. The company reported ($2.00) earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($2.19). The business had revenue of $314.39 million during the quarter, compared to analyst estimates of $303.21 million. As a group, equities analysts predict that Guardian Pharmacy Services, Inc. will post 0.87 earnings per share for the current fiscal year.

Insider Activity at Guardian Pharmacy Services

In other news, Director Thomas J. Salentine, Jr. bought 35,714 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was bought at an average price of $14.00 per share, for a total transaction of $499,996.00. Following the transaction, the director now directly owns 35,714 shares of the company’s stock, valued at $499,996. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven D. Cosler purchased 7,000 shares of Guardian Pharmacy Services stock in a transaction on Tuesday, November 19th. The shares were acquired at an average price of $21.22 per share, for a total transaction of $148,540.00. Following the completion of the transaction, the director now directly owns 17,713 shares of the company’s stock, valued at approximately $375,869.86. The trade was a 65.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Institutional Trading of Guardian Pharmacy Services

Hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. bought a new position in shares of Guardian Pharmacy Services during the third quarter valued at about $8,575,000. Wellington Management Group LLP purchased a new stake in Guardian Pharmacy Services during the 3rd quarter valued at about $8,400,000. Allspring Global Investments Holdings LLC purchased a new stake in Guardian Pharmacy Services during the 3rd quarter valued at about $5,460,000. Maven Securities LTD bought a new position in Guardian Pharmacy Services during the 3rd quarter worth approximately $3,033,000. Finally, Seven Grand Managers LLC purchased a new position in Guardian Pharmacy Services in the 3rd quarter worth approximately $2,515,000.

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.