PACS Group (NYSE:PACS) Sets New 1-Year High – Still a Buy?

PACS Group, Inc. (NYSE:PACS)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $43.93 and last traded at $42.6220, with a volume of 1451023 shares traded. The stock had previously closed at $39.94.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Oppenheimer upped their price target on shares of PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Truist Financial lifted their price target on shares of PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Wall Street Zen raised shares of PACS Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 15th. Weiss Ratings reissued a “hold (c)” rating on shares of PACS Group in a research note on Wednesday, June 24th. Finally, Zacks Research downgraded PACS Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

PACS Group Stock Performance

The stock has a 50 day moving average of $37.00 and a 200 day moving average of $36.58. The company has a market capitalization of $7.06 billion, a price-to-earnings ratio of 28.59, a price-to-earnings-growth ratio of 1.32 and a beta of -0.08. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.27.

PACS Group (NYSE:PACS) last released its earnings results on Monday, May 11th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.36 billion. As a group, analysts predict that PACS Group, Inc. will post 2.23 EPS for the current year.

Insider Transactions at PACS Group

In other PACS Group news, CAO Michelle Renee Lewis sold 15,000 shares of PACS Group stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $40.01, for a total value of $600,150.00. Following the completion of the sale, the chief accounting officer directly owned 370,338 shares in the company, valued at approximately $14,817,223.38. The trade was a 3.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Hancock sold 153,254 shares of PACS Group stock in a transaction on Monday, June 15th. The shares were sold at an average price of $36.34, for a total transaction of $5,569,250.36. Following the completion of the sale, the insider owned 54,449,343 shares of the company’s stock, valued at $1,978,689,124.62. This represents a 0.28% 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. In the last ninety days, insiders sold 595,152 shares of company stock valued at $22,500,363. Corporate insiders own 70.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of PACS Group by 14.4% during the fourth 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 in the last quarter. Alyeska Investment Group L.P. raised its holdings in shares of 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 worth $86,378,000 after purchasing an additional 1,382,984 shares during the period. Crewe Advisors LLC lifted its stake in PACS Group by 93.1% in the fourth 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 last quarter. Balyasny Asset Management L.P. lifted its stake in PACS Group by 67.3% in the third 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 last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of PACS Group by 19.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,350,551 shares of the company’s stock valued at $18,543,000 after buying an additional 220,939 shares during the last quarter.

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.