Bank of America Issues Positive Forecast for Guardian Pharmacy Services (NYSE:GRDN) Stock Price

Guardian Pharmacy Services (NYSE:GRDN) had its price objective lifted by stock analysts at Bank of America from $42.00 to $47.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price objective points to a potential upside of 10.35% from the stock’s current price.

GRDN has been the topic of a number of other research reports. Truist Financial boosted their target price on shares of Guardian Pharmacy Services from $38.00 to $43.00 and gave the company a “buy” rating in a report on Monday, April 13th. Jefferies Financial Group began coverage on shares of Guardian Pharmacy Services in a report on Monday, March 30th. They set a “buy” rating and a $44.00 target price on the stock. Weiss Ratings cut shares of Guardian Pharmacy Services from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Raymond James Financial restated an “outperform” rating and set a $40.00 target price on shares of Guardian Pharmacy Services in a report on Thursday, March 12th. Finally, Wall Street Zen cut shares of Guardian Pharmacy Services from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.17.

Guardian Pharmacy Services Stock Down 0.7%

NYSE:GRDN opened at $42.59 on Wednesday. The stock has a market cap of $2.12 billion, a P/E ratio of 51.32, a price-to-earnings-growth ratio of 2.81 and a beta of 0.08. The firm’s fifty day simple moving average is $38.42 and its 200 day simple moving average is $34.31. Guardian Pharmacy Services has a twelve month low of $19.30 and a twelve month high of $43.96.

Guardian Pharmacy Services (NYSE:GRDN) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.05. The business 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%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 earnings per share. On average, analysts expect that Guardian Pharmacy Services will post 1.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other Guardian Pharmacy Services news, insider Kendall Forbes sold 346,672 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider owned 453,256 shares of the company’s stock, valued at approximately $13,452,638.08. The trade was a 43.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Fred Burke sold 671,432 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider directly owned 840,413 shares of the company’s stock, valued at approximately $24,943,457.84. This trade represents a 44.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,726,405 shares of company stock worth $288,679,700 in the last quarter. Insiders own 32.96% of the company’s stock.

Institutional Investors Weigh In On Guardian Pharmacy Services

A number of large investors have recently made changes to their positions in the company. Bank of America Corp DE grew its stake in shares of Guardian Pharmacy Services by 86.1% during 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. The Manufacturers Life Insurance Company grew its stake in shares of Guardian Pharmacy Services by 67.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 11,820 shares of the company’s stock valued at $445,000 after purchasing an additional 4,761 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Guardian Pharmacy Services by 79.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 38,185 shares of the company’s stock valued at $1,438,000 after purchasing an additional 16,866 shares during the period. Sei Investments Co. grew its stake in shares of Guardian Pharmacy Services by 40.5% during the 1st quarter. Sei Investments Co. now owns 358,181 shares of the company’s stock valued at $13,489,000 after purchasing an additional 103,177 shares during the period. Finally, First Trust Advisors LP bought a new stake in shares of Guardian Pharmacy Services during the 1st quarter valued at about $3,528,000.

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.