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

Jennison Associates LLC increased its position in shares of Guardian Pharmacy Services, Inc. (NYSE:GRDN) by 609.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 822,784 shares of the company’s stock after acquiring an additional 706,823 shares during the quarter. Jennison Associates LLC owned approximately 1.30% of Guardian Pharmacy Services worth $30,986,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Ameritas Investment Partners Inc. raised its stake in Guardian Pharmacy Services by 26.5% during the third quarter. Ameritas Investment Partners Inc. now owns 1,647 shares of the company’s stock worth $43,000 after purchasing an additional 345 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Guardian Pharmacy Services in the 2nd quarter valued at approximately $43,000. State of Wyoming purchased a new stake in shares of Guardian Pharmacy Services in the 2nd quarter valued at approximately $58,000. Strs Ohio acquired a new stake in shares of Guardian Pharmacy Services during the 4th quarter worth approximately $75,000. Finally, Clearstead Advisors LLC increased its holdings in shares of Guardian Pharmacy Services by 196.3% during the 4th quarter. Clearstead Advisors LLC now owns 2,628 shares of the company’s stock worth $79,000 after buying an additional 1,741 shares during the last quarter.

Guardian Pharmacy Services Stock Performance

NYSE:GRDN opened at $39.79 on Tuesday. The stock has a market capitalization of $1.98 billion, a P/E ratio of 47.94, a PEG ratio of 2.66 and a beta of 0.05. The company has a 50 day moving average price of $40.02 and a 200 day moving average price of $36.12. Guardian Pharmacy Services, Inc. has a fifty-two week low of $19.30 and a fifty-two week high of $44.00.

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

Wall Street Analysts Forecast Growth

GRDN has been the topic of a number of recent analyst reports. Jefferies Financial Group began coverage on Guardian Pharmacy Services in a report on Monday, March 30th. They issued a “buy” rating and a $44.00 price objective on the stock. Oppenheimer lifted their target price on Guardian Pharmacy Services from $38.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Truist Financial upped their price target on Guardian Pharmacy Services from $43.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Weiss Ratings cut Guardian Pharmacy Services from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Wall Street Zen downgraded Guardian Pharmacy Services from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Guardian Pharmacy Services has an average rating of “Moderate Buy” and a consensus price target of $42.83.

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.