PACS Group, Inc. (NYSE:PACS) Given Average Rating of “Hold” by Analysts

PACS Group, Inc. (NYSE:PACS) has earned an average rating of “Hold” from the five analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $43.25.

A number of analysts have recently commented on PACS shares. JPMorgan Chase & Co. began coverage on PACS Group in a research note on Wednesday, December 17th. They set an “overweight” rating and a $44.00 price target on the stock. Wall Street Zen raised shares of PACS Group from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Research cut shares of PACS Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 2nd. UBS Group reiterated a “buy” rating and set a $42.00 price target (down previously from $50.00) on shares of PACS Group in a report on Thursday, December 18th. Finally, Truist Financial set a $40.00 price objective on PACS Group in a report on Friday, December 12th.

Insider Buying and Selling

In other news, Director Evelyn S. Dilsaver bought 16,724 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was acquired at an average price of $29.90 per share, with a total value of $500,047.60. Following the transaction, the director owned 22,739 shares of the company’s stock, valued at $679,896.10. This trade represents a 278.04% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Todd Mitchell sold 159,556 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $29.89, for a total transaction of $4,769,128.84. Following the sale, the insider owned 755,836 shares of the company’s stock, valued at approximately $22,591,938.04. This trade represents a 17.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 70.40% of the stock is owned by insiders.

Institutional Investors Weigh In On PACS Group

Hedge funds have recently added to or reduced their stakes in the business. Crewe Advisors LLC raised its stake in PACS Group by 93.1% during the 4th quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company’s stock worth $82,455,000 after buying an additional 1,035,747 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of PACS Group during the third quarter worth approximately $11,904,000. Royce & Associates LP lifted its holdings in shares of PACS Group by 76.6% in the 3rd quarter. Royce & Associates LP now owns 1,859,070 shares of the company’s stock worth $25,525,000 after purchasing an additional 806,446 shares in the last quarter. Marshall Wace LLP grew its position in PACS Group by 348.6% in the 3rd quarter. Marshall Wace LLP now owns 1,010,906 shares of the company’s stock valued at $13,880,000 after purchasing an additional 785,537 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in PACS Group by 120.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,129,612 shares of the company’s stock valued at $14,595,000 after purchasing an additional 617,124 shares in the last quarter.

PACS Group Price Performance

PACS traded down $0.70 on Friday, hitting $38.67. 753,199 shares of the stock were exchanged, compared to its average volume of 1,062,064. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.94 and a quick ratio of 0.94. PACS Group has a 12 month low of $7.50 and a 12 month high of $43.08. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of 36.83, a PEG ratio of 1.26 and a beta of -0.68. The business has a 50-day moving average of $31.97 and a two-hundred day moving average of $19.01.

PACS Group (NYSE:PACS) last posted its quarterly earnings results on Wednesday, November 19th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.36). PACS Group had a return on equity of 21.39% and a net margin of 3.29%.The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.11 billion. Sell-side analysts forecast that PACS Group will post 1.01 EPS for the current fiscal year.

PACS Group Company Profile

PACS Group, Inc, through its subsidiaries, operates skilled nursing facilities and assisted living facilities in the United States. The company also provides senior care and independent facilities. It engages in the acquisition, ownership, and leasing of health care-related properties. The company was founded in 2013 and is based in Farmington, Utah.