PACS Group (NYSE:PACS) Raised to Buy at Wall Street Zen

PACS Group (NYSE:PACS) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Sunday.

A number of other research analysts have also recently issued reports on PACS. UBS Group reiterated a “buy” rating and set a $42.00 price objective (down previously from $50.00) on shares of PACS Group in a research note on Thursday, December 18th. JPMorgan Chase & Co. initiated coverage on PACS Group in a research report on Wednesday, December 17th. They issued an “overweight” rating and a $44.00 price target for the company. Truist Financial set a $40.00 price target on shares of PACS Group in a research note on Friday, December 12th. Zacks Research raised shares of PACS Group from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $47.00 target price on shares of PACS Group in a report on Friday, December 19th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.25.

PACS Group Trading Down 3.0%

Shares of NYSE PACS opened at $37.73 on Friday. PACS Group has a 1 year low of $7.50 and a 1 year high of $43.08. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a 50-day moving average of $37.16 and a 200 day moving average of $22.65. The stock has a market cap of $5.91 billion, a P/E ratio of 35.93, a price-to-earnings-growth ratio of 1.26 and a beta of -0.64.

PACS Group (NYSE:PACS) last announced its 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 net margin of 3.29% and a return on equity of 21.39%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.11 billion. As a group, sell-side analysts expect that PACS Group will post 1.01 EPS for the current fiscal year.

Insider Activity

In related news, Director Evelyn S. Dilsaver purchased 16,724 shares of PACS Group stock in a transaction dated Monday, November 24th. The stock was purchased at an average cost of $29.90 per share, for a total transaction of $500,047.60. Following the completion of the purchase, the director directly owned 22,739 shares of the company’s stock, valued at $679,896.10. The trade was a 278.04% increase in their position. The purchase 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 that occurred on Monday, November 24th. The shares were sold at an average price of $29.89, for a total transaction of $4,769,128.84. Following the transaction, the insider directly owned 755,836 shares of the company’s stock, valued at $22,591,938.04. The trade was a 17.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 70.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PACS Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in PACS Group by 14.4% during the fourth quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock valued at $172,994,000 after buying an additional 566,502 shares during the last quarter. Alyeska Investment Group L.P. grew its position in shares of PACS Group by 159.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company’s stock valued at $86,378,000 after acquiring an additional 1,382,984 shares during the period. Crewe Advisors LLC increased its stake in shares of PACS Group by 93.1% in the 4th 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 in the last quarter. Royce & Associates LP raised its holdings in PACS Group by 76.6% in the 3rd quarter. Royce & Associates LP now owns 1,859,070 shares of the company’s stock worth $25,525,000 after purchasing an additional 806,446 shares during the period. Finally, Balyasny Asset Management L.P. raised 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 worth $18,621,000 after purchasing an additional 545,348 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.