PACS Group (NYSE:PACS) Shares Gap Down – What’s Next?

PACS Group, Inc. (NYSE:PACS)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $41.67, but opened at $38.40. PACS Group shares last traded at $36.6640, with a volume of 1,247,982 shares traded.

Analyst Upgrades and Downgrades

PACS has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PACS Group in a research note on Monday, December 22nd. JPMorgan Chase & Co. began coverage on PACS Group in a report on Wednesday, December 17th. They set an “overweight” rating and a $44.00 price objective on the stock. Truist Financial set a $40.00 target price on PACS Group in a research report on Friday, December 12th. Zacks Research upgraded shares of PACS Group from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Finally, UBS Group reissued a “buy” rating and set a $42.00 price target (down from $50.00) on shares of PACS Group in a research note on Thursday, December 18th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, PACS Group has a consensus rating of “Moderate Buy” and a consensus target price of $43.25.

PACS Group Stock Performance

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 stock has a market cap of $5.70 billion, a PE ratio of 34.96, a price-to-earnings-growth ratio of 1.31 and a beta of -0.65. The business has a 50 day moving average price of $38.15 and a two-hundred day moving average price of $24.08.

Hedge Funds Weigh In On PACS Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Invesco Ltd. increased its holdings in PACS Group by 685.4% during the 4th quarter. Invesco Ltd. now owns 191,788 shares of the company’s stock valued at $7,363,000 after purchasing an additional 167,368 shares during the period. Corient Private Wealth LLC increased its stake in shares of PACS Group by 29.7% during the fourth quarter. Corient Private Wealth LLC now owns 170,052 shares of the company’s stock valued at $6,528,000 after buying an additional 38,956 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in shares of PACS Group during the fourth quarter valued at approximately $347,000. Janus Henderson Group PLC raised its holdings in shares of PACS Group by 914.5% during the fourth quarter. Janus Henderson Group PLC now owns 214,070 shares of the company’s stock valued at $8,219,000 after acquiring an additional 192,970 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of PACS Group during the fourth quarter valued at approximately $8,728,000.

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.