PACS Group (NYSE:PACS) Price Target Cut to $24.00 by Analysts at Macquarie

PACS Group (NYSE:PACS) had its price objective cut by Macquarie from $42.00 to $24.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms also recently weighed in on PACS. UBS Group initiated coverage on PACS Group in a research report on Wednesday, October 9th. They set a “buy” rating and a $50.00 target price for the company. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $18.00 price objective on shares of PACS Group in a research report on Tuesday, December 17th. Citigroup assumed coverage on shares of PACS Group in a research report on Wednesday, September 11th. They set a “buy” rating and a $45.00 target price on the stock. Stephens dropped their price objective on PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Finally, Truist Financial reduced their price objective on PACS Group from $46.00 to $32.00 and set a “buy” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

PACS Group Price Performance

Shares of PACS stock opened at $13.18 on Monday. The stock has a 50 day moving average price of $17.83 and a 200 day moving average price of $30.15. PACS Group has a 52-week low of $12.54 and a 52-week high of $43.92. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PACS. Barclays PLC boosted its position in PACS Group by 651.3% during the third quarter. Barclays PLC now owns 63,366 shares of the company’s stock valued at $2,532,000 after purchasing an additional 54,932 shares in the last quarter. Lisanti Capital Growth LLC bought a new stake in shares of PACS Group in the 3rd quarter valued at about $4,259,000. Concentric Capital Strategies LP purchased a new position in shares of PACS Group in the 3rd quarter worth approximately $3,970,000. Maven Securities LTD bought a new position in shares of PACS Group during the 3rd quarter worth approximately $3,997,000. Finally, Wellington Management Group LLP raised its stake in shares of PACS Group by 60.5% during the 3rd quarter. Wellington Management Group LLP now owns 5,376,551 shares of the company’s stock worth $214,901,000 after acquiring an additional 2,025,835 shares in the last quarter.

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.