PACS Group (NYSE:PACS) Price Target Raised to $57.00

PACS Group (NYSE:PACS) had its price target lifted by Royal Bank Of Canada from $52.00 to $57.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other research firms have also issued reports on PACS. Truist Financial lifted their price objective on shares of PACS Group from $52.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday. Zacks Research downgraded shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Weiss Ratings raised shares of PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 8th. 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. Finally, Oppenheimer boosted their price objective on shares of PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $54.20.

PACS Group Stock Performance

Shares of NYSE:PACS opened at $48.38 on Thursday. The company has a market cap of $7.66 billion, a P/E ratio of 28.13, a PEG ratio of 1.45 and a beta of -0.08. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.99 and a current ratio of 0.91. PACS Group has a one year low of $7.50 and a one year high of $49.49. The business’s 50-day simple moving average is $41.73 and its 200 day simple moving average is $37.84.

PACS Group (NYSE:PACS) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.54 by $0.09. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.41 billion. PACS Group had a return on equity of 29.55% and a net margin of 4.85%. On average, sell-side analysts forecast that PACS Group will post 2.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Mark Hancock sold 4,966 shares of PACS Group stock in a transaction on Thursday, July 9th. The shares were 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 in the company, valued at approximately $2,429,658,270.72. The trade was a 0.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $45.04, for a total transaction of $186,330.48. Following the completion of the sale, the chief accounting officer directly owned 355,338 shares in the company, valued at $16,004,423.52. This represents a 1.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 796,524 shares of company stock valued at $31,611,396 in the last three months. Corporate insiders own 70.10% of the company’s stock.

Institutional Investors Weigh In On PACS Group

A number of institutional investors have recently modified their holdings of the stock. Hollencrest Capital Management acquired a new position in PACS Group in the fourth quarter worth about $27,000. Financial Management Professionals Inc. increased its holdings in PACS Group by 54.9% in the second quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock valued at $28,000 after buying an additional 235 shares during the last quarter. Quarry LP increased its holdings in PACS Group by 79.5% in the third quarter. Quarry LP now owns 2,388 shares of the company’s stock valued at $33,000 after buying an additional 1,058 shares during the last quarter. Larson Financial Group LLC raised its stake in PACS Group by 127.0% during the fourth 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 in the last quarter. Finally, KBC Group NV acquired a new stake in PACS Group during the first quarter valued at approximately $42,000.

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.