Truist Securities has initiated coverage on Guardian Pharmacy Services, Inc GRDN, which operates long-term care pharmacies that facilitate the full lifecycle of pharmacy administration and associated consultative services for residents of long-term healthcare facilities (LTCFs).

Truist Securities已开始覆盖Guardian Pharmacy Services，Inc GRDN，该公司经营长期护理药房，为长期医疗机构（LTCF）的居民提供药学管理和相关咨询服务的整个生命周期。

As of June 30, 2024, the company operated 50 pharmacies that served approximately 174,000 residents in approximately 6,700 LTCFs across 36 states.

截至2024年6月30日，该公司运营了50家药店，为36个州约6700家长期合作基金的约174000名居民提供服务。

Guardian Pharmacy Services priced its initial public offering of 8 million shares at $14.00 per share. The company started trading on September 26.

Guardian Pharmaceutical Services将其800万股的首次公开发行定价为每股14.00美元。该公司于9月26日开始交易。

Truist notes the sizable market opportunity of around $24.8 billion of U.S. institutional pharmacy revenue in 2024.

Truist指出，2024年美国机构药房收入约248亿美元的巨大市场机会。

The analyst observes strong industry trends driven by the aging U.S. population and an increase in residents at assisted living facilities, along with a rise in chronic conditions and multiple diagnoses.

这位分析师观察到，美国人口老龄化、辅助生活设施的居民增加以及慢性病和多重诊断的增加，推动了强劲的行业趋势。

“Given these industry dynamics, we view Guardian as well positioned given their differentiated scale, suite of capabilities,” Truist analyst writes.

Truist分析师写道：“考虑到这些行业动态，我们认为Guardian在规模和功能上都有差异，因此定位良好。”。

The analyst sees a market share of over 12%, with a leading presence in many regions and an impressive assisted living resident adoption rate of approximately 88%.

分析师认为，该公司的市场份额超过12%，在许多地区都处于领先地位，辅助生活居民的收养率约为88%。

The analyst adds that Guardian has strategically targeted the more lucrative markets of assisted living and behavioral health facilities/group homes.

这位分析师补充说，《卫报》战略性地瞄准了更有利可图的辅助生活和行为健康设施/集体住宅市场。

The analyst initiates with a Buy rating and a price target of $22.

这位分析师以买入评级和22美元的价格目标开始。

Truist says the industry dynamics are advantageous, as the market is notably fragmented, and regulatory requirements create significant barriers to entry. Additionally, demographic trends are likely to provide a boost, particularly as the aging population increasingly relies on prescription medications..

Truist说，行业动态是有利的，因为市场明显分散，监管要求为进入创造了巨大障碍。此外，人口趋势可能会带来提振，特别是随着人口老龄化越来越依赖处方药。。

Stable margins have accompanied Guardian’s rapid membership growth, and the company’s strong cash flow and appealing financial flexibility will enable continued investments in growth and M&A, the analyst says.

这位分析师表示，稳定的利润率伴随着《卫报》会员人数的快速增长，该公司强大的现金流和诱人的财务灵活性将使其能够继续投资于增长和并购。

Lastly, Truist foresees ongoing expansion efforts in new and established markets via organically and M&A activities.

最后，Truist预计将通过有机和并购活动在新市场和成熟市场进行持续扩张。

Price Action: GRDN stock is down 1.13% at $17.48 at last check Monday.

价格走势：周一最后一次检查时，GRDN股价下跌1.13%，至17.48美元。

Image: Akava Photo from Pixabay

图片：阿卡瓦图片来自Pixabay

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