Analysts Set PACS Group, Inc. (NYSE:PACS) Price Target at $45.60

PACS Group, Inc. (NYSE:PACS) has been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $48.00.

PACS has been the subject of several recent research reports. Zacks Research cut shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Truist Financial upped their price target on shares of PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday. Wall Street Zen upgraded shares of PACS Group from a “hold” rating to a “buy” rating in a research report on Sunday, May 10th. UBS Group upped their price target on shares of PACS Group from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of PACS Group in a research report on Friday, March 27th.

Insiders Place Their Bets

In other PACS Group news, COO Joshua Jergensen sold 36,335 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $34.28, for a total transaction of $1,245,563.80. Following the completion of the transaction, the chief operating officer owned 2,667,347 shares in the company, valued at approximately $91,436,655.16. This trade represents a 1.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 70.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PACS. Royce & Associates LP raised its position in shares of PACS Group by 76.6% in the 3rd quarter. Royce & Associates LP now owns 1,859,070 shares of the company’s stock worth $25,525,000 after acquiring an additional 806,446 shares in the last quarter. American Alpha Advisors LLC bought a new position in shares of PACS Group in the 3rd quarter worth about $686,000. Peterson Wealth Services boosted its holdings in shares of PACS Group by 57.6% during the 3rd quarter. Peterson Wealth Services now owns 84,028 shares of the company’s stock worth $1,154,000 after buying an additional 30,701 shares in the last quarter. Crewe Advisors LLC grew its position in shares of PACS Group by 93.1% during the 4th quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company’s stock worth $82,455,000 after buying an additional 1,035,747 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of PACS Group by 14.4% in the 4th quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock valued at $172,994,000 after acquiring an additional 566,502 shares in the last quarter.

PACS Group Stock Down 1.8%

Shares of NYSE PACS opened at $36.81 on Friday. The company has a 50 day simple moving average of $34.33 and a 200 day simple moving average of $32.97. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.99 and a quick ratio of 0.99. PACS Group has a 1 year low of $7.50 and a 1 year high of $43.08. The firm has a market cap of $5.83 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 1.14 and a beta of -0.03.

PACS Group (NYSE:PACS) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.08. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.36 billion. On average, research analysts forecast that PACS Group will post 2.19 EPS for the current year.

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.