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

PACS Group (NYSE:PACS) had its price target increased by Oppenheimer from $48.00 to $57.00 in a research report released on Monday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages also recently issued reports on PACS. Weiss Ratings downgraded shares of PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Truist Financial lifted their price target on shares of PACS Group from $52.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. UBS Group increased their price objective on PACS Group from $57.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Royal Bank Of Canada boosted their target price on PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Finally, Zacks Research lowered PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $56.00.

PACS Group Stock Up 1.3%

PACS Group stock opened at $45.52 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. The firm has a market cap of $7.20 billion, a P/E ratio of 26.47, a P/E/G ratio of 1.27 and a beta of -0.08. The business has a fifty day moving average of $42.34 and a two-hundred day moving average of $38.06. PACS Group has a twelve month low of $7.50 and a twelve month high of $49.49.

PACS Group (NYSE:PACS) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.09. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.41 billion. PACS Group had a return on equity of 29.55% and a net margin of 4.85%. On average, analysts forecast that PACS Group will post 2.36 earnings per share for the current fiscal year.

Insider Buying and Selling at PACS Group

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Financial Management Professionals Inc. raised its position in PACS Group by 54.9% during the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock worth $28,000 after buying an additional 235 shares during the last quarter. Hollencrest Capital Management acquired a new stake in shares of PACS Group in the fourth quarter worth $27,000. Larson Financial Group LLC raised its holdings in shares of PACS Group by 127.0% during the fourth quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $42,000 after purchasing an additional 612 shares during the last quarter. KBC Group NV acquired a new position in PACS Group during the first quarter valued at $42,000. Finally, Western Wealth Management LLC purchased a new stake in PACS Group in the first quarter valued at $48,000.

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.