Guardian Pharmacy slides as shareholders offload in $186 mln secondary offering

Guardian Pharmacy Services

19/03/2026 10:59

** Guardian Pharmacy Services GRDN.N shares down 10.1% before the bell at $30.50 after $186 mln secondary offering prices

** Pharmacy services provider to long-term healthcare facilities announces 6 mln shares at $31

** Offering size boosted from 5 mln shares and priced at 8.6% discount to stock's last sale on Weds

** Bindley Capital and Pharmacy Investors are predominant sellers of 4.98 mln shares in offering, per the prospectus

** GRDN sold 1.02 mln shares and will use proceeds to repurchase shares from certain existing holders

** BofA, Jefferies and Raymond James joint bookrunners for offering

** Atlanta, Georgia-based GRDN has 63.3 mln shares outstanding

** Through Weds close, stock up ~13% YTD and ~9% shy of record intraday high of $37.43 from Nov 11

** 2 analysts rate the stock "strong buy", 2 rate "buy"; median PT $38, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))