PACS Group (NYSE:PACS) Earns Buy Rating from UBS Group

PACS Group (NYSE:PACS)‘s stock had its “buy” rating reaffirmed by equities researchers at UBS Group in a research note issued to investors on Thursday,Benzinga reports. They presently have a $42.00 target price on the stock, down from their previous target price of $50.00. UBS Group’s target price indicates a potential upside of 21.04% from the stock’s previous close.

Other research analysts have also issued reports about the company. Royal Bank Of Canada increased their target price on PACS Group from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Zacks Research lowered PACS Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 2nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PACS Group in a research note on Monday. Truist Financial set a $40.00 target price on PACS Group in a report on Friday, December 12th. Finally, Wall Street Zen lowered shares of PACS Group from a “buy” rating to a “hold” rating in a report on Sunday, November 30th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, PACS Group has an average rating of “Moderate Buy” and a consensus price target of $36.60.

PACS Group Stock Up 1.5%

PACS stock opened at $34.70 on Thursday. The stock has a market capitalization of $5.43 billion, a P/E ratio of 33.05, a PEG ratio of 1.49 and a beta of -0.63. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.94 and a current ratio of 0.94. PACS Group has a one year low of $7.50 and a one year high of $35.59. The company has a 50 day moving average price of $20.31 and a two-hundred day moving average price of $14.80.

PACS Group (NYSE:PACS) last issued its quarterly earnings results on Wednesday, November 19th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.36). PACS Group had a return on equity of 21.39% and a net margin of 3.29%.The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.11 billion. As a group, sell-side analysts expect that PACS Group will post 1.01 EPS for the current year.

Insider Transactions at PACS Group

In related news, Director Evelyn S. Dilsaver bought 16,724 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were acquired at an average cost of $29.90 per share, for a total transaction of $500,047.60. Following the acquisition, the director owned 22,739 shares in the company, valued at $679,896.10. This represents a 278.04% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John Todd Mitchell sold 159,556 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $29.89, for a total value of $4,769,128.84. Following the transaction, the insider directly owned 755,836 shares in the company, valued at $22,591,938.04. This trade represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 70.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of PACS Group during the first quarter worth about $469,000. Geode Capital Management LLC grew its stake in PACS Group by 11.5% during the 2nd quarter. Geode Capital Management LLC now owns 952,358 shares of the company’s stock valued at $12,306,000 after purchasing an additional 98,277 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in PACS Group during the 2nd quarter worth approximately $1,654,000. Nuveen LLC acquired a new position in shares of PACS Group in the 1st quarter valued at approximately $1,918,000. Finally, Bleakley Financial Group LLC acquired a new position in shares of PACS Group in the 2nd quarter valued at approximately $297,000.

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.