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

Shares of PACS Group, Inc. (NYSE:PACS) have been assigned an average rating of “Buy” from the seven ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $56.00.

A number of equities analysts recently weighed in on PACS shares. Zacks Research upgraded PACS Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Truist Financial lifted their price target on PACS Group from $52.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen downgraded PACS Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Royal Bank Of Canada upped their price objective on shares of PACS Group from $52.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings cut shares of PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 5th.

Insider Activity

In related news, Director Mark Hancock sold 4,966 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $45.06, for a total value of $223,767.96. Following the completion of the transaction, the director owned 53,920,512 shares of the company’s stock, valued at approximately $2,429,658,270.72. This trade represents a 0.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jason Hulse Murray sold 84,717 shares of PACS Group stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $44.26, for a total transaction of $3,749,574.42. Following the transaction, the chief executive officer owned 54,845,416 shares in the company, valued at approximately $2,427,458,112.16. The trade was a 0.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 992,488 shares of company stock worth $40,847,862 over the last three months. 70.10% of the stock is owned by insiders.

Institutional Trading of PACS Group

A number of hedge funds have recently modified their holdings of PACS. Financial Management Professionals Inc. grew its holdings in shares of PACS Group by 54.9% during the second quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock valued at $28,000 after buying an additional 235 shares in the last quarter. Hollencrest Capital Management purchased a new stake in PACS Group in the 4th quarter worth about $27,000. Larson Financial Group LLC lifted its stake in PACS Group by 127.0% in the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $42,000 after acquiring an additional 612 shares in the last quarter. KBC Group NV purchased a new stake in PACS Group in the 1st quarter worth about $42,000. Finally, Western Wealth Management LLC acquired a new stake in PACS Group during the 1st quarter worth about $48,000.

PACS Group Price Performance

NYSE PACS opened at $44.13 on Monday. PACS Group has a 1 year low of $7.50 and a 1 year high of $49.49. The business’s fifty day moving average is $43.54 and its two-hundred day moving average is $38.54. The stock has a market capitalization of $6.98 billion, a P/E ratio of 25.66, a P/E/G ratio of 1.25 and a beta of -0.08. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 0.91.

PACS Group (NYSE:PACS) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.09. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.41 billion. PACS Group had a return on equity of 29.55% and a net margin of 4.85%. On average, research analysts forecast that PACS Group will post 2.36 earnings per share for the current fiscal 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.