Analysts Set PACS Group, Inc. (NYSE:PACS) PT at $32.33

Shares of PACS Group, Inc. (NYSE:PACS) have been given an average rating of “Moderate Buy” by the seven analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $39.40.

PACS has been the subject of several analyst reports. Wall Street Zen cut shares of PACS Group from a “buy” rating to a “hold” rating in a research report on Sunday, November 30th. Zacks Research cut PACS Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 2nd. Weiss Ratings restated a “hold (c-)” rating on shares of PACS Group in a report on Monday. JPMorgan Chase & Co. assumed coverage on PACS Group in a report on Wednesday, December 17th. They issued an “overweight” rating and a $44.00 price objective for the company. Finally, Truist Financial set a $40.00 price objective on PACS Group in a research report on Friday, December 12th.

PACS Group Trading Up 1.1%

Shares of PACS stock opened at $37.67 on Wednesday. The stock has a market capitalization of $5.90 billion, a PE ratio of 35.75, a P/E/G ratio of 1.69 and a beta of -0.63. PACS Group has a 1-year low of $7.50 and a 1-year high of $37.27. The business has a 50-day moving average of $22.20 and a 200 day moving average of $15.57. 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 (NYSE:PACS) last announced its quarterly earnings results on Wednesday, November 19th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.36). The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.11 billion. PACS Group had a return on equity of 21.39% and a net margin of 3.29%. As a group, sell-side analysts anticipate that PACS Group will post 1.01 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider John Todd Mitchell sold 159,556 shares of the business’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 transaction, the insider owned 755,836 shares in the company, valued at $22,591,938.04. The trade was a 17.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Evelyn S. Dilsaver purchased 16,724 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was bought at an average cost of $29.90 per share, with a total value of $500,047.60. Following the completion of the purchase, the director owned 22,739 shares of the company’s stock, valued at $679,896.10. This represents a 278.04% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 70.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP raised its position in shares of PACS Group by 79.5% in the 3rd quarter. Quarry LP now owns 2,388 shares of the company’s stock worth $33,000 after acquiring an additional 1,058 shares in the last quarter. Strategic Advocates LLC bought a new position in PACS Group in the third quarter worth $60,000. State of Alaska Department of Revenue bought a new position in PACS Group in the third quarter worth $69,000. Jones Financial Companies Lllp purchased a new position in PACS Group during the first quarter valued at $64,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of PACS Group by 289.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,166 shares of the company’s stock valued at $80,000 after buying an additional 4,581 shares in 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.