Brokerages Set PACS Group, Inc. (NYSE:PACS) Price Target at $50.60

Shares of PACS Group, Inc. (NYSE:PACS) have been given an average rating of “Moderate Buy” by the seven ratings firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $50.60.

A number of analysts have weighed in on PACS shares. UBS Group increased their price objective on PACS Group from $50.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Wall Street Zen raised PACS Group from a “buy” rating to a “strong-buy” rating in a report on Monday, June 15th. Oppenheimer upped their price target on PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Weiss Ratings raised PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 8th. Finally, Zacks Research lowered shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th.

PACS Group Trading Down 3.0%

NYSE PACS opened at $44.62 on Thursday. The firm’s fifty day moving average is $41.08 and its two-hundred day moving average is $37.63. PACS Group has a one year low of $7.50 and a one year high of $48.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $7.06 billion, a PE ratio of 28.60, a P/E/G ratio of 1.38 and a beta of -0.08.

PACS Group (NYSE:PACS) last announced its earnings results on Monday, May 11th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.08. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.36 billion. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. Analysts expect that PACS Group will post 2.23 earnings per share for the current year.

Insider Buying and Selling at PACS Group

In other news, Director Mark Hancock sold 4,966 shares of PACS Group stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $45.06, for a total value of $223,767.96. Following the sale, the director owned 53,920,512 shares of the company’s stock, valued at $2,429,658,270.72. The trade was a 0.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michelle Renee Lewis sold 4,137 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $45.04, for a total transaction of $186,330.48. Following the transaction, the chief accounting officer owned 355,338 shares in the company, valued at approximately $16,004,423.52. This trade represents a 1.15% 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 a total of 796,524 shares of company stock valued at $31,611,396 in the last 90 days. Company insiders own 70.10% of the company’s stock.

Institutional Investors Weigh In On PACS Group

Institutional investors have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB acquired a new position in PACS Group during the 2nd quarter worth approximately $567,000. Financial Management Professionals Inc. raised its stake in shares of PACS Group by 54.9% during the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock worth $28,000 after buying an additional 235 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of PACS Group in the 1st quarter valued at approximately $278,000. Western Wealth Management LLC acquired a new stake in shares of PACS Group in the 1st quarter valued at approximately $48,000. Finally, Smith Group Asset Management LLC purchased a new stake in shares of PACS Group in the first quarter valued at approximately $771,000.

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.