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

PACS Group, Inc. (NYSE:PACS) shares reached a new 52-week high on Saturday . The company traded as high as $47.62 and last traded at $46.7320, with a volume of 856253 shares trading hands. The stock had previously closed at $44.82.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Oppenheimer increased their price target on PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Weiss Ratings raised PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 8th. Wall Street Zen raised PACS Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 15th. Zacks Research cut PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Finally, UBS Group lifted their target price on PACS Group from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $50.60.

PACS Group Stock Performance

The business’s fifty day moving average is $40.00 and its two-hundred day moving average is $37.43. The stock has a market capitalization of $7.40 billion, a PE ratio of 29.96, a price-to-earnings-growth ratio of 1.34 and a beta of -0.08. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.27.

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. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.36 billion. As a group, research analysts anticipate that PACS Group, Inc. will post 2.23 EPS for the current fiscal year.

Insider Activity

In other news, CAO Michelle Renee Lewis sold 4,137 shares of the company’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 sale, the chief accounting officer directly owned 355,338 shares in the company, valued at approximately $16,004,423.52. This represents a 1.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the transaction, the director 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 796,524 shares of company stock worth $31,611,396 over the last 90 days. Corporate insiders own 70.10% of the company’s stock.

Hedge Funds Weigh In On PACS Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of PACS Group by 14.4% during the 4th quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock valued at $172,994,000 after purchasing an additional 566,502 shares during the last quarter. Alyeska Investment Group L.P. lifted its position in PACS Group by 159.5% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company’s stock worth $86,378,000 after buying an additional 1,382,984 shares during the last quarter. Crewe Advisors LLC lifted its position in PACS Group by 93.1% in the fourth quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company’s stock worth $82,455,000 after buying an additional 1,035,747 shares during the last quarter. Balyasny Asset Management L.P. boosted its stake in PACS Group by 67.3% during the third quarter. Balyasny Asset Management L.P. now owns 1,356,240 shares of the company’s stock worth $18,621,000 after buying an additional 545,348 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in PACS Group by 19.6% during the third quarter. Ameriprise Financial Inc. now owns 1,350,551 shares of the company’s stock worth $18,543,000 after buying an additional 220,939 shares during the period.

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.