PACS Group (NYSE:PACS) Trading 4.2% Higher – Still a Buy?

PACS Group, Inc. (NYSE:PACS) shares traded up 4.2% on Friday . The stock traded as high as $46.40 and last traded at $46.72. 38,534 shares traded hands during trading, a decline of 96% from the average session volume of 930,344 shares. The stock had previously closed at $44.82.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Oppenheimer raised their price objective on shares of PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Wall Street Zen raised shares of PACS Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 15th. Weiss Ratings upgraded shares of PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 8th. UBS Group raised their price target on shares of PACS Group from $50.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Finally, Truist Financial raised their price target on shares of PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $50.60.

PACS Group Price Performance

The company has a fifty day moving average of $39.81 and a 200-day moving average of $37.37. The firm has a market cap of $7.50 billion, a P/E ratio of 30.44, a P/E/G ratio of 1.35 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 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. PACS Group had a return on equity of 26.47% and a net margin of 4.49%.The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.36 billion. On average, sell-side analysts anticipate that PACS Group, Inc. will post 2.23 EPS 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 dated Monday, July 6th. The shares were sold at an average price of $45.04, for a total transaction of $186,330.48. Following the transaction, the chief accounting officer directly owned 355,338 shares of the company’s stock, valued at $16,004,423.52. This trade represents a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 the business’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $45.06, for a total transaction of $223,767.96. Following the transaction, the director owned 53,920,512 shares in the company, valued at approximately $2,429,658,270.72. This trade represents a 0.01% 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. In the last quarter, insiders sold 796,524 shares of company stock valued at $31,611,396. Company insiders own 70.10% of the company’s stock.

Institutional Investors Weigh In On PACS Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in PACS. Alyeska Investment Group L.P. lifted its holdings in PACS Group by 159.5% during the fourth quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company’s stock worth $86,378,000 after acquiring an additional 1,382,984 shares during the period. Crewe Advisors LLC grew its stake in PACS Group by 93.1% in the 4th quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company’s stock valued at $82,455,000 after purchasing an additional 1,035,747 shares during the period. Marshall Wace LLP increased its position in shares of PACS Group by 348.6% during the 3rd quarter. Marshall Wace LLP now owns 1,010,906 shares of the company’s stock valued at $13,880,000 after purchasing an additional 785,537 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of PACS Group by 120.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,129,612 shares of the company’s stock worth $14,595,000 after purchasing an additional 617,124 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of PACS Group by 370.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 780,159 shares of the company’s stock worth $25,051,000 after purchasing an additional 614,250 shares during the period.

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.