Analysts Set PACS Group, Inc. (NYSE:PACS) Price Target at $56.00

PACS Group, Inc. (NYSE:PACS) has been given an average rating of “Buy” by the seven brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $56.00.

PACS has been the subject of several recent analyst reports. Truist Financial upped their price objective on PACS Group from $52.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Royal Bank Of Canada raised their target price on PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Oppenheimer boosted their price target on shares of PACS Group from $48.00 to $57.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Zacks Research raised PACS Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Finally, Wall Street Zen lowered shares of PACS Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th.

Insider Transactions at PACS Group

In related news, insider Mark Hancock sold 153,254 shares of PACS Group stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $36.34, for a total value 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 approximately $1,978,689,124.62. This trade represents a 0.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jason Hulse Murray sold 91,306 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $43.92, for a total transaction of $4,010,159.52. Following the sale, the chief executive officer directly owned 54,754,110 shares in the company, valued at $2,404,800,511.20. The trade was a 0.17% 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 1,143,038 shares of company stock worth $47,458,833 over the last three months. 70.10% of the stock is owned by insiders.

Hedge Funds Weigh In On PACS Group

A number of hedge funds and other institutional investors have recently modified their holdings of PACS. Hollencrest Capital Management bought a new position in shares of PACS Group in the fourth quarter worth approximately $27,000. Financial Management Professionals Inc. raised its stake in PACS Group by 54.9% in the second quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock worth $28,000 after buying an additional 235 shares in the last quarter. Quarry LP lifted its stake in shares of PACS Group by 79.5% in the 3rd 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 period. Larson Financial Group LLC boosted its holdings in shares of PACS Group by 127.0% during 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 in the last quarter. Finally, KBC Group NV bought a new stake in PACS Group during the first quarter worth about $42,000.

PACS Group Trading Down 3.1%

NYSE PACS opened at $42.88 on Monday. The company has a market cap of $6.79 billion, a PE ratio of 24.93, a PEG ratio of 1.25 and a beta of -0.08. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average of $44.32 and a 200-day moving average of $38.78. PACS Group has a 12 month low of $7.50 and a 12 month high of $49.49.

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

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.