Jennison Associates LLC Raises Stock Position in Guardian Pharmacy Services, Inc. $GRDN

Jennison Associates LLC lifted its holdings in shares of Guardian Pharmacy Services, Inc. (NYSE:GRDN) by 609.5% during the 1st quarter, Holdings Channel reports. The firm owned 822,784 shares of the company’s stock after buying an additional 706,823 shares during the period. Jennison Associates LLC’s holdings in Guardian Pharmacy Services were worth $30,986,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GRDN. Ameritas Investment Partners Inc. grew its holdings in shares of 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 purchasing an additional 345 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Guardian Pharmacy Services during the 2nd quarter worth approximately $43,000. State of Wyoming purchased a new position in Guardian Pharmacy Services in the 2nd quarter valued at approximately $58,000. Strs Ohio purchased a new position in Guardian Pharmacy Services in the 4th quarter valued at approximately $75,000. Finally, Clearstead Advisors LLC boosted its position in Guardian Pharmacy Services by 196.3% in the 4th quarter. Clearstead Advisors LLC now owns 2,628 shares of the company’s stock valued at $79,000 after buying an additional 1,741 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GRDN shares. Bank of America upped their price objective on Guardian Pharmacy Services from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Weiss Ratings lowered Guardian Pharmacy Services from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Jefferies Financial Group began coverage on Guardian Pharmacy Services in a research note on Monday, March 30th. They set a “buy” rating and a $44.00 target price for the company. Truist Financial increased their price target on Guardian Pharmacy Services from $43.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Finally, Oppenheimer lifted their price objective on Guardian Pharmacy Services from $38.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.83.

Guardian Pharmacy Services Trading Down 1.8%

Shares of GRDN opened at $39.79 on Tuesday. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 47.94, a PEG ratio of 2.66 and a beta of 0.05. The firm’s fifty day simple moving average is $40.02 and its 200-day simple moving average is $36.12. Guardian Pharmacy Services, Inc. has a twelve month low of $19.30 and a twelve month high of $44.00.

Guardian Pharmacy Services (NYSE:GRDN) last issued its earnings results on Wednesday, May 6th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. The firm had revenue of $336.60 million during the quarter, compared to the consensus estimate of $329.89 million. Guardian Pharmacy Services had a net margin of 3.64% and a return on equity of 30.72%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.22 earnings per share. On average, analysts predict that Guardian Pharmacy Services, Inc. will post 1.18 earnings per share for the current fiscal year.

Guardian Pharmacy Services 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.