PACS Group (NYSE:PACS) Reaches New 52-Week High – Still a Buy?

PACS Group, Inc. (NYSE:PACS)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $35.59 and last traded at $34.7950, with a volume of 85784 shares. The stock had previously closed at $34.79.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Royal Bank Of Canada lifted their price target on PACS Group from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Wall Street Zen downgraded shares of PACS Group from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of PACS Group in a report on Monday, December 8th. Truist Financial set a $40.00 price objective on PACS Group in a research note on Friday. Finally, Zacks Research downgraded PACS Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 2nd. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $28.75.

PACS Group Trading Up 1.1%

The company’s 50 day simple moving average is $19.04 and its two-hundred day simple moving average is $14.31. The company has a market cap of $5.51 billion, a PE ratio of 33.55, a price-to-earnings-growth ratio of 1.51 and a beta of -0.74. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.94 and a quick ratio of 0.94.

PACS Group (NYSE:PACS) last issued its quarterly earnings results on Wednesday, November 19th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.36). The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.11 billion. PACS Group had a return on equity of 21.39% and a net margin of 3.29%. As a group, sell-side analysts anticipate that PACS Group, Inc. will post 1.01 EPS for the current fiscal year.

Insider Buying and Selling at PACS Group

In related news, insider John Todd Mitchell sold 159,556 shares of the company’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $29.89, for a total value of $4,769,128.84. Following the completion of the sale, the insider owned 755,836 shares in the company, valued at $22,591,938.04. This represents a 17.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Evelyn S. Dilsaver bought 16,724 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were acquired at an average price of $29.90 per share, with a total value of $500,047.60. Following the purchase, the director directly owned 22,739 shares of the company’s stock, valued at approximately $679,896.10. This trade represents a 278.04% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 70.40% of the company’s stock.

Institutional Investors Weigh In On PACS Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP grew its position in PACS Group by 79.5% during the third quarter. Quarry LP now owns 2,388 shares of the company’s stock worth $33,000 after buying an additional 1,058 shares during the period. Strategic Advocates LLC acquired a new stake in PACS Group during the 3rd quarter valued at $60,000. Jones Financial Companies Lllp purchased a new position in PACS Group during the first quarter worth $64,000. State of Alaska Department of Revenue acquired a new stake in shares of PACS Group during the third quarter worth $69,000. Finally, Tower Research Capital LLC TRC grew its holdings in PACS Group by 289.0% in the second quarter. Tower Research Capital LLC TRC now owns 6,166 shares of the company’s stock valued at $80,000 after purchasing an additional 4,581 shares during the period.

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.