PACS Group, Inc. (NYSE:PACS) Receives $44.40 Average Target Price from Analysts

Shares of PACS Group, Inc. (NYSE:PACS) have been given an average rating of “Buy” by the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $44.40.

A number of equities research analysts have recently issued reports on PACS shares. Truist Financial set a $40.00 target price on shares of PACS Group in a report on Friday, December 12th. UBS Group lifted their price target on PACS Group from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Weiss Ratings reissued a “hold (c)” rating on shares of PACS Group in a research report on Friday. Oppenheimer upped their price objective on PACS Group from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, March 4th. Finally, JPMorgan Chase & Co. started coverage on PACS Group in a research report on Wednesday, December 17th. They issued an “overweight” rating and a $44.00 price objective for the company.

Insiders Place Their Bets

In related news, COO Joshua Jergensen sold 36,335 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $34.28, for a total value of $1,245,563.80. Following the sale, the chief operating officer owned 2,667,347 shares in the company, valued at approximately $91,436,655.16. This represents a 1.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 70.40% of the company’s stock.

Hedge Funds Weigh In On PACS Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC acquired a new stake in shares of PACS Group during the 1st quarter worth about $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in PACS Group by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the company’s stock valued at $262,000 after buying an additional 1,443 shares during the last quarter. Millennium Management LLC raised its holdings in PACS Group by 68.3% in the 1st quarter. Millennium Management LLC now owns 859,295 shares of the company’s stock valued at $9,658,000 after acquiring an additional 348,743 shares during the period. Jones Financial Companies Lllp bought a new position in PACS Group in the 1st quarter valued at about $64,000. Finally, Caxton Associates LLP acquired a new stake in PACS Group during the first quarter worth approximately $163,000.

PACS Group Stock Performance

Shares of PACS stock opened at $32.10 on Friday. The stock has a market cap of $5.05 billion, a P/E ratio of 26.10, a P/E/G ratio of 0.97 and a beta of -0.64. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.07 and a quick ratio of 1.07. The company has a fifty day moving average price of $35.97 and a two-hundred day moving average price of $28.02. PACS Group has a one year low of $7.50 and a one year high of $43.08.

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.