Brokerages Set PACS Group, Inc. (NYSE:PACS) Price Target at $45.60

Shares of PACS Group, Inc. (NYSE:PACS) have received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $48.00.

A number of analysts have issued reports on the stock. Truist Financial lifted their target price on shares of PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of PACS Group in a research report on Friday, March 27th. Wall Street Zen raised shares of PACS Group from a “hold” rating to a “buy” rating in a research report on Sunday, May 10th. Oppenheimer lifted their price target on shares of PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Finally, Royal Bank Of Canada lifted their price target on shares of PACS Group from $47.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, February 27th.

Insider Buying and Selling

In other news, insider John Todd Mitchell sold 52,763 shares of PACS Group stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $38.02, for a total value of $2,006,049.26. Following the transaction, the insider owned 830,955 shares of the company’s stock, valued at $31,592,909.10. This trade represents a 5.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Joshua Jergensen sold 36,335 shares of PACS Group stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $34.28, for a total transaction of $1,245,563.80. Following the completion of the transaction, the chief operating officer directly owned 2,667,347 shares in the company, valued at approximately $91,436,655.16. This represents a 1.34% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 116,487 shares of company stock worth $4,269,388. Insiders own 70.10% of the company’s stock.

Hedge Funds Weigh In On PACS Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royce & Associates LP increased its position 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 acquiring an additional 806,446 shares during the period. American Alpha Advisors LLC bought a new position in PACS Group during the third quarter worth $686,000. Peterson Wealth Services increased its position in PACS Group by 57.6% during the third quarter. Peterson Wealth Services now owns 84,028 shares of the company’s stock worth $1,154,000 after acquiring an additional 30,701 shares during the period. Crewe Advisors LLC increased its position in PACS Group by 93.1% during the fourth quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company’s stock worth $82,455,000 after acquiring an additional 1,035,747 shares during the period. Finally, Vanguard Group Inc. increased its position in PACS Group by 14.4% during the fourth quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock worth $172,994,000 after acquiring an additional 566,502 shares during the period.

PACS Group Price Performance

NYSE PACS opened at $37.78 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $5.98 billion, a PE ratio of 24.22, a price-to-earnings-growth ratio of 1.15 and a beta of -0.03. The company has a 50 day moving average price of $34.58 and a two-hundred day moving average price of $33.53. PACS Group has a 12-month low of $7.50 and a 12-month high of $43.08.

PACS Group (NYSE:PACS) last posted its 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. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.36 billion. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. As a group, equities analysts predict that PACS Group will post 2.19 earnings per share for the current fiscal year.

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.