Guardian Pharmacy Services (NYSE:GRDN) Shares Down 8% After Earnings Miss

Guardian Pharmacy Services, Inc. (NYSE:GRDN) traded down 8% during trading on Tuesday after the company announced weaker than expected quarterly earnings. The company traded as low as $23.35 and last traded at $23.62. 15,188 shares traded hands during trading, a decline of 90% from the average session volume of 145,924 shares. The stock had previously closed at $25.66.

The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). The business had revenue of $329.31 million for the quarter, compared to the consensus estimate of $321.21 million.

Analyst Ratings Changes

Separately, Truist Financial upped their price objective on shares of Guardian Pharmacy Services from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, April 11th.

Hedge Funds Weigh In On Guardian Pharmacy Services

A number of institutional investors have recently made changes to their positions in GRDN. Wellington Management Group LLP lifted its position in shares of Guardian Pharmacy Services by 14.2% during the first quarter. Wellington Management Group LLP now owns 464,924 shares of the company’s stock worth $9,884,000 after purchasing an additional 57,924 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Guardian Pharmacy Services by 23.4% during the 1st quarter. Russell Investments Group Ltd. now owns 90,401 shares of the company’s stock worth $1,922,000 after buying an additional 17,160 shares during the last quarter. Premier Fund Managers Ltd acquired a new position in shares of Guardian Pharmacy Services in the 1st quarter worth approximately $435,000. Meeder Asset Management Inc. acquired a new position in shares of Guardian Pharmacy Services in the 1st quarter worth approximately $88,000. Finally, Royce & Associates LP increased its holdings in shares of Guardian Pharmacy Services by 27.6% in the 1st quarter. Royce & Associates LP now owns 273,068 shares of the company’s stock valued at $5,805,000 after acquiring an additional 59,068 shares during the last quarter.

Guardian Pharmacy Services Stock Performance

The company has a 50-day moving average of $22.50 and a 200-day moving average of $21.69.

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.