Brokerages Set PACS Group, Inc. (NYSE:PACS) Target Price at $50.60

PACS Group, Inc. (NYSE:PACS) has been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $50.60.

Several research firms have recently issued reports on PACS. Wall Street Zen upgraded shares of PACS Group from a “buy” rating to a “strong-buy” rating in a report on Monday, June 15th. Zacks Research downgraded shares of PACS Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Truist Financial increased their price objective on shares of PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Weiss Ratings raised shares of PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 8th. Finally, UBS Group boosted their target price on PACS Group from $50.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th.

PACS Group Trading Down 1.9%

Shares of PACS stock opened at $46.12 on Thursday. PACS Group has a 1 year low of $7.50 and a 1 year high of $48.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.99 and a quick ratio of 0.99. The stock’s 50 day simple moving average is $40.94 and its two-hundred day simple moving average is $37.64. The company has a market cap of $7.30 billion, a PE ratio of 29.56, a price-to-earnings-growth ratio of 1.38 and a beta of -0.08.

PACS Group (NYSE:PACS) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.08. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.36 billion. PACS Group had a return on equity of 26.47% and a net margin of 4.49%. Research analysts predict that PACS Group will post 2.23 earnings per share for the current year.

Insider Activity at PACS Group

In related news, CAO Michelle Renee Lewis sold 4,137 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $45.04, for a total transaction of $186,330.48. Following the completion of the sale, the chief accounting officer directly owned 355,338 shares of the company’s stock, valued at approximately $16,004,423.52. This trade represents a 1.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Hancock sold 4,966 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $45.06, for a total value of $223,767.96. Following the transaction, the director owned 53,920,512 shares of the company’s stock, valued at approximately $2,429,658,270.72. The trade was a 0.01% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 796,524 shares of company stock worth $31,611,396. Company insiders own 70.10% of the company’s stock.

Institutional Trading of PACS Group

A number of large investors have recently made changes to their positions in PACS. Vanguard Group Inc. increased its stake in PACS Group by 14.4% in the 4th quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock worth $172,994,000 after buying an additional 566,502 shares during the period. Alyeska Investment Group L.P. grew its stake in PACS Group by 159.5% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company’s stock worth $86,378,000 after acquiring an additional 1,382,984 shares in the last quarter. Crewe Advisors LLC increased its position in shares of 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. Balyasny Asset Management L.P. increased its position in shares of PACS Group by 67.3% during the third quarter. Balyasny Asset Management L.P. now owns 1,356,240 shares of the company’s stock worth $18,621,000 after acquiring an additional 545,348 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of PACS Group by 19.6% during the third quarter. Ameriprise Financial Inc. now owns 1,350,551 shares of the company’s stock worth $18,543,000 after acquiring an additional 220,939 shares during the period.

PACS Group Company Profile

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.