PACS Group (NYSE:PACS) Hits New 52-Week High – Still a Buy?

PACS Group, Inc. (NYSE:PACS)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $46.20 and last traded at $45.7110, with a volume of 135647 shares. The stock had previously closed at $45.00.

Analysts Set New Price Targets

A number of brokerages have weighed in on PACS. Weiss Ratings raised shares of PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 8th. Zacks Research cut shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Truist Financial boosted their target price 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. UBS Group increased their target price on shares of PACS Group from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Finally, Oppenheimer lifted their price target on shares of PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, PACS Group currently has a consensus rating of “Moderate Buy” and an average target price of $50.60.

PACS Group Stock Performance

The firm’s fifty day simple moving average is $39.29 and its 200 day simple moving average is $37.21. The company has a market capitalization of $7.33 billion, a price-to-earnings ratio of 29.67, a PEG ratio of 1.36 and a beta of -0.08. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.99 and a quick ratio of 0.99.

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

Insider Buying and Selling at PACS Group

In other news, Director Mark Hancock sold 4,966 shares of the firm’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $45.06, for a total value of $223,767.96. Following the completion of the sale, the director owned 53,920,512 shares of the company’s stock, valued at $2,429,658,270.72. This trade represents a 0.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michelle Renee Lewis sold 4,137 shares of PACS Group stock in a transaction on Monday, July 6th. The shares were sold at an average price of $45.04, for a total value of $186,330.48. Following the transaction, the chief accounting officer owned 355,338 shares in the company, valued at $16,004,423.52. This represents a 1.15% 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. Over the last three months, insiders have sold 796,524 shares of company stock worth $31,611,396. Company insiders own 70.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hollencrest Capital Management purchased a new position in shares of PACS Group during the 4th quarter valued at $27,000. Financial Management Professionals Inc. increased its holdings in shares of PACS Group by 54.9% during the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock valued at $28,000 after acquiring an additional 235 shares during the last quarter. Quarry LP grew its holdings in PACS Group by 79.5% during the third quarter. Quarry LP now owns 2,388 shares of the company’s stock valued at $33,000 after purchasing an additional 1,058 shares during the last quarter. Larson Financial Group LLC grew its stake in PACS Group by 127.0% in the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $42,000 after buying an additional 612 shares during the last quarter. Finally, KBC Group NV acquired a new stake in shares of PACS Group in the first quarter valued at about $42,000.

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.