PACS Group (NYSE:PACS) Downgraded by Zacks Research to Hold

Zacks Research cut shares of PACS Group (NYSE:PACS) from a strong-buy rating to a hold rating in a report published on Thursday morning,Zacks.com reports.

Several other research analysts also recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of PACS Group in a research note on Friday, March 27th. UBS Group lifted their target price on PACS Group from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Wall Street Zen upgraded PACS Group from a “hold” rating to a “buy” rating in a research note on Sunday, May 10th. Royal Bank Of Canada lifted their target price on PACS Group from $47.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. Finally, Oppenheimer lifted their target price on PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.60.

PACS Group Stock Down 5.3%

NYSE:PACS opened at $37.54 on Thursday. The firm has a market capitalization of $5.94 billion, a price-to-earnings ratio of 24.06, a price-to-earnings-growth ratio of 1.21 and a beta of -0.03. PACS Group has a twelve month low of $7.50 and a twelve month high of $43.08. The stock’s 50 day moving average price is $34.30 and its two-hundred day moving average price is $32.66. The company has a quick ratio of 1.07, a current ratio of 0.99 and a debt-to-equity ratio of 0.27.

PACS Group (NYSE:PACS) last issued its earnings results on Monday, May 11th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.42 by $0.08. PACS Group had a return on equity of 26.47% and a net margin of 4.49%.The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.36 billion. Equities research analysts expect that PACS Group will post 2.19 earnings per share for the current fiscal year.

Insider Transactions at PACS Group

In related news, COO Joshua Jergensen sold 36,335 shares of the business’s 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 completion of the sale, the chief operating officer directly owned 2,667,347 shares in the company, valued at $91,436,655.16. The trade was a 1.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 70.10% of the stock is owned by company insiders.

Institutional Trading of PACS Group

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in PACS Group by 14.4% in the 4th quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock valued at $172,994,000 after purchasing an additional 566,502 shares during the period. Alyeska Investment Group L.P. boosted its stake in PACS Group by 159.5% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company’s stock valued at $86,378,000 after purchasing an additional 1,382,984 shares during the period. Crewe Advisors LLC boosted its stake in PACS Group by 93.1% in the 4th quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company’s stock valued at $82,455,000 after purchasing an additional 1,035,747 shares during the period. Royce & Associates LP boosted its stake in PACS Group by 76.6% in the 3rd quarter. Royce & Associates LP now owns 1,859,070 shares of the company’s stock valued at $25,525,000 after purchasing an additional 806,446 shares during the period. Finally, Balyasny Asset Management L.P. boosted its stake in PACS Group by 67.3% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,356,240 shares of the company’s stock valued at $18,621,000 after purchasing an additional 545,348 shares during the period.

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.