PACS Group (NYSE:PACS) Stock Jumps 3.6% – Should You Buy?

PACS Group, Inc. (NYSE:PACS) traded up 3.6% during mid-day trading on Monday. The company traded as high as $42.43 and last traded at $42.8040. Approximately 106,703 shares changed hands during trading, a decline of 88% from the average session volume of 894,762 shares. The stock had previously closed at $41.30.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings lowered shares of PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Wall Street Zen cut shares of PACS Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Zacks Research downgraded PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 9th. UBS Group lifted their price target on PACS Group from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Truist Financial set a $62.00 price target on PACS Group in a report on Wednesday, September 2nd. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, PACS Group has a consensus rating of “Moderate Buy” and a consensus target price of $58.80.

PACS Group Stock Performance

The company has a market capitalization of $6.71 billion, a PE ratio of 24.67, a PEG ratio of 1.29 and a beta of -0.13. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. The stock’s fifty day simple moving average is $44.30 and its 200-day simple moving average is $39.43.

PACS Group (NYSE:PACS) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.54 by $0.09. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.41 billion. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. On average, research analysts predict that PACS Group, Inc. will post 2.13 earnings per share for the current fiscal year.

Insider Buying and Selling at PACS Group

In other PACS Group news, CEO Jason Murray sold 10,529 shares of the stock in a transaction on Friday, September 11th. The stock was sold at an average price of $45.23, for a total transaction of $476,226.67. Following the transaction, the chief executive officer owned 54,555,566 shares in the company, valued at $2,467,548,250.18. This trade represents a 0.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Hancock sold 155,682 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $42.47, for a total transaction of $6,611,814.54. Following the sale, the director directly owned 53,518,884 shares of the company’s stock, valued at approximately $2,272,947,003.48. This trade represents a 0.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,107,655 shares of company stock worth $48,779,328 over the last ninety days. 70.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Tidal Investments LLC bought a new stake in PACS Group in the 2nd quarter worth approximately $252,000. Engineers Gate Manager LP acquired a new stake in shares of PACS Group in the 2nd quarter worth $1,132,000. Integrated Wealth Concepts LLC purchased a new stake in shares of PACS Group in the 2nd quarter valued at $75,000. Squarepoint Ops LLC grew its position in shares of PACS Group by 94.7% during the second quarter. Squarepoint Ops LLC now owns 59,523 shares of the company’s stock worth $2,538,000 after buying an additional 28,945 shares in the last quarter. Finally, Nykredit A S purchased a new position in shares of PACS Group in the 2nd quarter valued at about $95,000.

About PACS Group

PACS Group, Inc is a U.S. healthcare services company that operates skilled nursing and post-acute care facilities. Its facilities provide short-term rehabilitation, long-term skilled nursing, nursing care, and related clinical services for patients recovering from illness, injury, surgery, or hospitalization.

The company’s broader care offerings may include assisted living, memory care, behavioral health, and other specialized post-acute services, depending on the facility and market.