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

PACS Group, Inc. (NYSE:PACS) has earned an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. Two equities 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 brokers that have covered the stock in the last year is $48.00.

Several research firms have commented on PACS. Royal Bank Of Canada upped their price objective on shares of PACS Group from $47.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, February 27th. Truist Financial lifted their price target on shares of PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Wall Street Zen downgraded shares of PACS Group from a “strong-buy” rating to a “buy” rating in a report on Sunday. UBS Group lifted their price objective on shares of PACS Group from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of PACS Group in a research report on Friday, March 27th.

PACS Group Stock Performance

NYSE PACS opened at $35.19 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27. The firm’s fifty day moving average price is $35.35 and its two-hundred day moving average price is $35.72. PACS Group has a 1 year low of $7.50 and a 1 year high of $43.08. The firm has a market capitalization of $5.57 billion and a P/E ratio of 22.56.

PACS Group (NYSE:PACS) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.08. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.36 billion. As a group, research analysts anticipate that PACS Group will post 2.19 EPS for the current year.

Insider Activity at PACS Group

In other PACS Group news, insider John Todd Mitchell sold 52,763 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $38.02, for a total value of $2,006,049.26. Following the completion of the sale, the insider owned 830,955 shares of the company’s stock, valued at $31,592,909.10. This represents a 5.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Joshua Jergensen sold 36,335 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $34.28, for a total value of $1,245,563.80. Following the completion of the sale, the chief operating officer directly owned 2,667,347 shares of the company’s stock, valued at approximately $91,436,655.16. This represents a 1.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 116,487 shares of company stock worth $4,269,388. 70.10% of the stock is owned by company insiders.

Institutional Trading of PACS Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royce & Associates LP boosted its stake in PACS Group by 76.6% in 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. Vanguard Group Inc. boosted its stake in shares of 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 purchasing an additional 566,502 shares during the period. Crewe Advisors LLC boosted its stake 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 valued at $82,455,000 after purchasing an additional 1,035,747 shares during the period. Fox Run Management L.L.C. boosted its stake in shares of PACS Group by 216.6% during the third quarter. Fox Run Management L.L.C. now owns 36,502 shares of the company’s stock valued at $501,000 after purchasing an additional 24,971 shares during the period. Finally, Versor Investments LP purchased a new stake in shares of PACS Group during the fourth quarter valued at approximately $542,000.

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.