PACS Group, Inc. (NYSE:PACS) Given Average Rating of “Moderate Buy” by Analysts

Shares of PACS Group, Inc. (NYSE:PACS) have been assigned an average recommendation of “Moderate Buy” from the five brokerages that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $43.25.

A number of research analysts have weighed in on PACS shares. Zacks Research raised shares of PACS Group from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $47.00 price objective on shares of PACS Group in a research note on Friday, December 19th. Wall Street Zen upgraded PACS Group from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. JPMorgan Chase & Co. assumed coverage on PACS Group in a report on Wednesday, December 17th. They issued an “overweight” rating and a $44.00 target price on the stock. Finally, Truist Financial set a $40.00 price target on PACS Group in a report on Friday, December 12th.

PACS Group Stock Down 2.7%

PACS opened at $35.77 on Thursday. The firm has a market cap of $5.60 billion, a P/E ratio of 34.07, a price-to-earnings-growth ratio of 1.23 and a beta of -0.65. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.94 and a current ratio of 0.94. The business has a 50 day moving average price of $36.13 and a 200 day moving average price of $21.07. PACS Group has a twelve month low of $7.50 and a twelve month high of $43.08.

PACS Group (NYSE:PACS) last released its quarterly earnings results on Wednesday, November 19th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.36). PACS Group had a net margin of 3.29% and a return on equity of 21.39%. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.11 billion. Research analysts forecast that PACS Group will post 1.01 EPS for the current year.

Insiders Place Their Bets

In related news, Director Evelyn S. Dilsaver purchased 16,724 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were bought at an average cost of $29.90 per share, for a total transaction of $500,047.60. Following the transaction, the director directly owned 22,739 shares of the company’s stock, valued at approximately $679,896.10. This trade represents a 278.04% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John Todd Mitchell sold 159,556 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $29.89, for a total transaction of $4,769,128.84. Following the transaction, the insider owned 755,836 shares in the company, valued at approximately $22,591,938.04. The trade was a 17.43% decrease in their position. The SEC filing for this sale provides additional information. 70.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PACS Group

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings 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 worth $172,994,000 after purchasing an additional 566,502 shares in 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 purchasing an additional 1,035,747 shares during the period. Royce & Associates LP boosted its stake in PACS Group by 76.6% during the third quarter. Royce & Associates LP now owns 1,859,070 shares of the company’s stock worth $25,525,000 after buying an additional 806,446 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in PACS Group by 67.3% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,356,240 shares of the company’s stock valued at $18,621,000 after buying an additional 545,348 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in PACS Group by 19.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,350,551 shares of the company’s stock valued at $18,543,000 after buying an additional 220,939 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.