PACS Group (NYSE:PACS) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of PACS Group (NYSE:PACS) from a buy rating to a hold rating in a research note released on Saturday.

Several other analysts have also commented on PACS. Truist Financial set a $40.00 target price on PACS Group in a report on Friday, December 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PACS Group in a report on Monday, December 22nd. UBS Group reiterated a “buy” rating and issued a $42.00 target price (down from $50.00) on shares of PACS Group in a research note on Thursday, December 18th. Zacks Research raised shares of PACS Group from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $47.00 price objective on shares of PACS Group in a report on Friday, December 19th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $43.25.

PACS Group Trading Up 4.5%

Shares of NYSE:PACS opened at $38.55 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.28. PACS Group has a 52-week low of $7.50 and a 52-week high of $43.08. The stock has a market cap of $6.04 billion, a price-to-earnings ratio of 36.71, a PEG ratio of 1.29 and a beta of -0.65. The business has a 50-day moving average price of $36.33 and a 200-day moving average price of $21.44.

PACS Group (NYSE:PACS) last issued its quarterly earnings results on Wednesday, November 19th. The company reported $0.10 earnings per share 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 business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.11 billion. Equities analysts predict that PACS Group will post 1.01 EPS for the current year.

Insider Transactions at PACS Group

In related news, Director Evelyn S. Dilsaver purchased 16,724 shares of PACS Group stock in a transaction that occurred on Monday, November 24th. The stock was purchased at an average price of $29.90 per share, for a total transaction of $500,047.60. Following the transaction, the director directly owned 22,739 shares in the company, valued at approximately $679,896.10. This trade represents a 278.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Todd Mitchell sold 159,556 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $29.89, for a total transaction of $4,769,128.84. Following the completion of the transaction, the insider directly owned 755,836 shares in the company, valued at $22,591,938.04. This 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 Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Quarry LP boosted its stake in PACS Group by 79.5% during the 3rd quarter. Quarry LP now owns 2,388 shares of the company’s stock worth $33,000 after purchasing an additional 1,058 shares during the last quarter. Larson Financial Group LLC boosted its position in PACS Group by 127.0% during the fourth quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $42,000 after acquiring an additional 612 shares during the last quarter. Strategic Advocates LLC purchased a new stake in PACS Group during the 3rd quarter valued at about $60,000. Jones Financial Companies Lllp purchased a new stake in PACS Group during the 1st quarter valued at about $64,000. Finally, State of Alaska Department of Revenue acquired a new stake in PACS Group in the 3rd quarter valued at about $69,000.

About PACS Group

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.