Guardian Pharmacy Services (NYSE:GRDN) Rating Increased to Strong-Buy at Zacks Research

Guardian Pharmacy Services (NYSE:GRDN) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other research firms have also commented on GRDN. Weiss Ratings reiterated a “hold (c+)” rating on shares of Guardian Pharmacy Services in a research note on Monday, December 29th. Raymond James Financial reaffirmed an “outperform” rating and issued a $40.00 price target on shares of Guardian Pharmacy Services in a research note on Thursday, March 12th. Stephens increased their price objective 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. Truist Financial raised their price objective on Guardian Pharmacy Services from $34.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, March 12th. Finally, UBS Group reaffirmed a “buy” rating on shares of Guardian Pharmacy Services in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $38.00.

Guardian Pharmacy Services Stock Up 1.5%

GRDN opened at $34.43 on Wednesday. The firm’s fifty day simple moving average is $32.14 and its two-hundred day simple moving average is $29.60. Guardian Pharmacy Services has a 52-week low of $19.17 and a 52-week high of $37.43. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 44.72 and a beta of 0.86.

Guardian Pharmacy Services (NYSE:GRDN) last released its earnings results on Wednesday, March 11th. The company reported $0.37 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 business’s quarterly revenue was up 17.4% compared to the same quarter last year. On average, research analysts forecast that Guardian Pharmacy Services will post 0.87 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GRDN. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Guardian Pharmacy Services in the first quarter valued at about $233,000. Envestnet Asset Management Inc. raised its stake in Guardian Pharmacy Services by 7.1% during the second quarter. Envestnet Asset Management Inc. now owns 12,126 shares of the company’s stock worth $258,000 after purchasing an additional 805 shares during the period. Geode Capital Management LLC boosted its holdings in Guardian Pharmacy Services by 65.9% in the 2nd quarter. Geode Capital Management LLC now owns 336,701 shares of the company’s stock valued at $7,177,000 after purchasing an additional 133,715 shares during the last quarter. Police & Firemen s Retirement System of New Jersey boosted its holdings in Guardian Pharmacy Services by 76.8% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 2,444 shares of the company’s stock valued at $52,000 after purchasing an additional 1,062 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Guardian Pharmacy Services in the 2nd quarter valued at approximately $346,000.

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.