PACS Group, Inc. (NYSE:PACS) Stock Has Consensus Price Target of $58.80 According to Brokerages

PACS Group, Inc. (NYSE:PACS) has been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $58.80.

Several research firms have recently issued reports on PACS. Zacks Research lowered shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 9th. Wall Street Zen lowered PACS Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. lifted their price target on PACS Group from $47.00 to $58.00 and gave the company an “overweight” rating in a research note on Friday, September 4th. Truist Financial set a $62.00 price target on PACS Group in a report on Wednesday, September 2nd. Finally, Oppenheimer increased their price target on PACS Group from $48.00 to $57.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th.

Insider Activity

In other news, CEO Jason Murray sold 717 shares of the business’s stock in a transaction that occurred on Wednesday, October 7th. The stock was sold at an average price of $42.48, for a total value of $30,458.16. Following the completion of the sale, the chief executive officer directly owned 54,435,249 shares in the company, valued at $2,312,409,377.52. The trade was a 0.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Hancock sold 155,682 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $42.47, for a total value of $6,611,814.54. Following the transaction, the director directly owned 53,518,884 shares of the company’s stock, valued at approximately $2,272,947,003.48. The trade was a 0.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,026,283 shares of company stock worth $44,748,389 over the last three months. 70.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PACS Group

Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in shares of PACS Group by 370.2% during the first quarter. Dimensional Fund Advisors LP now owns 780,159 shares of the company’s stock worth $25,051,000 after purchasing an additional 614,250 shares in the last quarter. Sei Investments Co. raised its position in shares of PACS Group by 7.4% during the 1st quarter. Sei Investments Co. now owns 370,501 shares of the company’s stock worth $11,900,000 after purchasing an additional 25,462 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in PACS Group by 44.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 288,718 shares of the company’s stock valued at $9,274,000 after buying an additional 89,067 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in PACS Group in the 1st quarter valued at about $6,762,000. Finally, Bank of New York Mellon Corp purchased a new position in PACS Group in the 2nd quarter valued at about $8,196,000.

PACS Group Price Performance

NYSE:PACS opened at $47.77 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $7.56 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 1.40 and a beta of -0.08. The company has a 50 day moving average price of $43.61 and a 200-day moving average price of $40.37. PACS Group has a 1-year low of $10.31 and a 1-year high of $49.49.

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, topping 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 firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.41 billion. Equities research analysts forecast that PACS Group will post 2.13 EPS for the current year.

About PACS Group

PACS Group, Inc is a healthcare services company that operates skilled nursing and other post-acute care facilities in the United States. Its facilities provide services for patients who require medical care, rehabilitation, recovery support, or assistance with daily activities following hospitalization or other acute health events.

The company’s services generally include skilled nursing, physical and occupational therapy, speech therapy, long-term care, short-term rehabilitation, and other specialized post-acute programs.