PACS Group, Inc. (NYSE:PACS) Receives Consensus Recommendation of “Moderate Buy” from Analysts

PACS Group, Inc. (NYSE:PACS) has earned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $34.00.

A number of equities research analysts have issued reports on PACS shares. JPMorgan Chase & Co. restated a “neutral” rating and set a $18.00 price target on shares of PACS Group in a report on Tuesday, December 17th. Stephens decreased their target price on PACS Group from $48.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Macquarie lowered their target price on PACS Group from $42.00 to $24.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Finally, Truist Financial cut their price target on PACS Group from $46.00 to $32.00 and set a “buy” rating for the company in a report on Monday, January 6th.

Institutional Trading of PACS Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP raised its holdings in 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 purchasing an additional 2,025,835 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of PACS Group by 6.4% during the fourth quarter. Vanguard Group Inc. now owns 3,929,545 shares of the company’s stock worth $51,516,000 after buying an additional 237,069 shares during the last quarter. Zimmer Partners LP lifted its holdings in PACS Group by 191.2% in the third quarter. Zimmer Partners LP now owns 2,329,529 shares of the company’s stock valued at $93,111,000 after buying an additional 1,529,529 shares during the period. FMR LLC boosted its stake in PACS Group by 174.4% in the third quarter. FMR LLC now owns 1,641,651 shares of the company’s stock valued at $65,617,000 after acquiring an additional 1,043,399 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in PACS Group by 5.9% in the third quarter. JPMorgan Chase & Co. now owns 1,272,720 shares of the company’s stock valued at $50,871,000 after acquiring an additional 70,786 shares during the last quarter.

PACS Group Price Performance

Shares of NYSE:PACS opened at $14.24 on Wednesday. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.82. PACS Group has a 1 year low of $12.54 and a 1 year high of $43.92. The firm has a fifty day moving average price of $13.93 and a 200 day moving average price of $27.25.

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.