PACS Group (NYSE:PACS) Rating Lowered to “Hold” at Zacks Research

PACS Group (NYSE:PACS) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks reports.

Several other brokerages have also recently weighed in on PACS. Truist Financial set a $62.00 price objective on shares of PACS Group in a research note on Wednesday, September 2nd. Wall Street Zen lowered shares of PACS Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Royal Bank Of Canada raised their target price on shares of PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Oppenheimer lifted their price target on shares of PACS Group from $48.00 to $57.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Finally, Weiss Ratings cut PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.80.

PACS Group Price Performance

PACS Group stock opened at $44.77 on Wednesday. PACS Group has a 12 month low of $8.00 and a 12 month high of $49.49. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 1.39 and a beta of -0.13. The stock’s 50 day moving average is $44.74 and its 200-day moving average is $39.05.

PACS Group (NYSE:PACS) last announced its 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. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Equities research analysts expect that PACS Group will post 2.13 EPS for the current year.

Insider Buying and Selling at PACS Group

In other news, CEO Jason Murray sold 4,758 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $43.33, for a total transaction of $206,164.14. Following the completion of the sale, the chief executive officer owned 54,574,866 shares of the company’s stock, valued at approximately $2,364,728,943.78. This represents a 0.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 1,263,038 shares of company stock worth $52,600,000. Corporate insiders own 70.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new position in shares of PACS Group in the 1st quarter valued at $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of PACS Group by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the company’s stock worth $262,000 after buying an additional 1,443 shares in the last quarter. Millennium Management LLC lifted its position in shares of PACS Group by 68.3% during the 1st quarter. Millennium Management LLC now owns 859,295 shares of the company’s stock worth $9,658,000 after buying an additional 348,743 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in shares of PACS Group during the 1st quarter worth $64,000. Finally, Caxton Associates LLP acquired a new stake in PACS Group in the first quarter valued at about $163,000.

PACS Group Company Profile

PACS Group, Inc is a U.S. healthcare services company that operates skilled nursing and post-acute care facilities. Its facilities provide short-term rehabilitation, long-term skilled nursing, nursing care, and related clinical services for patients recovering from illness, injury, surgery, or hospitalization.

The company’s broader care offerings may include assisted living, memory care, behavioral health, and other specialized post-acute services, depending on the facility and market.