Guardian Pharmacy Services (NYSE:GRDN) Shares Down 3.6% – Here’s What Happened

Guardian Pharmacy Services, Inc. (NYSE:GRDN) shares dropped 3.6% on Tuesday . The company traded as low as $22.76 and last traded at $22.80. Approximately 17,273 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 187,614 shares. The stock had previously closed at $23.65.

Wall Street Analysts Forecast Growth

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

Guardian Pharmacy Services Price Performance

The company’s 50 day moving average is $21.42.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On Guardian Pharmacy Services

Hedge funds have recently added to or reduced their stakes in the business. Stephens Inc. AR acquired a new stake in shares of Guardian Pharmacy Services during the 3rd quarter worth approximately $189,000. Virtu Financial LLC bought a new position in Guardian Pharmacy Services during the third quarter worth $279,000. Barclays PLC bought a new position in Guardian Pharmacy Services during the third quarter worth $311,000. Point72 DIFC Ltd acquired a new stake in Guardian Pharmacy Services in the third quarter worth $573,000. Finally, Royce & Associates LP bought a new stake in Guardian Pharmacy Services in the third quarter valued at $1,260,000.

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.