PACS Group (NYSE:PACS) Price Target Raised to $57.00

PACS Group (NYSE:PACS) had its price objective upped by equities research analysts at Oppenheimer from $48.00 to $57.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target points to a potential upside of 17.27% from the stock’s current price.

PACS has been the subject of several other research reports. Zacks Research downgraded shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Weiss Ratings downgraded shares of PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday. Wall Street Zen lowered shares of PACS Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Truist Financial boosted their price target on shares of PACS Group from $52.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday. Finally, UBS Group upped their price objective on shares of PACS Group from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, PACS Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.

PACS Group Stock Up 0.3%

Shares of NYSE PACS traded up $0.17 during midday trading on Monday, hitting $48.61. 296,583 shares of the company’s stock were exchanged, compared to its average volume of 944,265. The firm’s fifty day simple moving average is $41.73 and its 200-day simple moving average is $37.83. The company has a market cap of $7.69 billion, a PE ratio of 28.23, a P/E/G ratio of 1.45 and a beta of -0.08. PACS Group has a twelve month low of $7.50 and a twelve month high of $49.49. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.91 and a quick ratio of 0.91.

PACS Group (NYSE:PACS) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.09. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.41 billion. PACS Group had a return on equity of 29.55% and a net margin of 4.85%. Research analysts predict that PACS Group will post 2.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Michelle Renee Lewis sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $40.01, for a total transaction of $600,150.00. Following the transaction, the chief accounting officer directly owned 370,338 shares in the company, valued at approximately $14,817,223.38. This trade represents a 3.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Hancock sold 153,254 shares of PACS Group stock in a transaction on Monday, June 15th. The shares were sold at an average price of $36.34, for a total transaction of $5,569,250.36. Following the completion of the transaction, the insider directly owned 54,449,343 shares in the company, valued at $1,978,689,124.62. The trade was a 0.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 796,524 shares of company stock valued at $31,611,396 over the last quarter. Company insiders own 70.10% of the company’s stock.

Institutional Trading of PACS Group

A number of large investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC purchased a new stake in shares of PACS Group in the first quarter valued at about $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in PACS Group by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the company’s stock valued at $262,000 after acquiring an additional 1,443 shares during the period. Millennium Management LLC raised its stake in PACS Group by 68.3% during the 1st quarter. Millennium Management LLC now owns 859,295 shares of the company’s stock valued at $9,658,000 after acquiring an additional 348,743 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in PACS Group during the 1st quarter worth approximately $64,000. Finally, Caxton Associates LLP purchased a new position in shares of PACS Group in the 1st quarter valued at approximately $163,000.

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.