PACS Group, Inc. (NYSE:PACS) Stock Has Average Price Target of $58.80

PACS Group, Inc. (NYSE:PACS) has been given an average rating of “Moderate Buy” by the seven ratings firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $58.80.

A number of research analysts recently weighed in on PACS shares. Weiss Ratings raised PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Royal Bank Of Canada boosted their target price on PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Wall Street Zen cut PACS Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Oppenheimer raised their price target on PACS Group from $48.00 to $57.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Finally, Zacks Research downgraded PACS Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 9th.

Insider Buying and Selling

In related news, COO Joshua Jergensen sold 40,000 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $45.59, for a total transaction of $1,823,600.00. Following the sale, the chief operating officer directly owned 2,536,320 shares of the company’s stock, valued at approximately $115,630,828.80. This represents a 1.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Hancock sold 155,682 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $42.47, for a total transaction of $6,611,814.54. Following the sale, the director directly owned 53,518,884 shares in the company, valued at $2,272,947,003.48. This trade represents a 0.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,185,012 shares of company stock worth $52,143,059 in the last quarter. Corporate insiders own 70.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PACS. USA Financial Formulas purchased a new stake in PACS Group during the 3rd quarter valued at $46,000. Ellsworth Advisors LLC bought a new position in shares of PACS Group during the third quarter valued at $914,000. State of Alaska Department of Revenue lifted its holdings in shares of PACS Group by 29.0% during the third quarter. State of Alaska Department of Revenue now owns 6,715 shares of the company’s stock valued at $279,000 after purchasing an additional 1,511 shares in the last quarter. GK Wealth Management LLC purchased a new stake in shares of PACS Group during the third quarter valued at $41,000. Finally, Toth Financial Advisory Corp boosted its position in shares of PACS Group by 87.5% during the third quarter. Toth Financial Advisory Corp now owns 1,500 shares of the company’s stock valued at $62,000 after buying an additional 700 shares during the last quarter.

Key PACS Group News

Here are the key news stories impacting PACS Group this week:

• Positive Sentiment: An analysis suggests that expanding the company’s lease portfolio could reshape the investment case for PACS Group, potentially supporting future growth and increasing investor interest. The article provides a potentially constructive strategic angle, although specific financial details were not included. Lease Expansion Could Reshape The Case For PACS Group Stock
• Neutral Sentiment: PACS shares recently gained 6.2% on above-average volume, indicating strong near-term buying interest. However, Zacks cautioned that the latest earnings-estimate revision trend may not support additional gains in the immediate future, making continuation of the rally uncertain. PACS Group Surges 6.2%: Is This an Indication of Further Gains?
• Negative Sentiment: CEO Jason Murray sold a combined 118,729 shares for approximately $5.60 million, while COO Joshua Jergensen sold 40,000 shares valued at $1.78 million. Such sales can weigh on sentiment because they indicate insider selling near recent highs; however, both executives retained substantial positions, and the transactions were made under pre-arranged trading plans.

PACS Group Price Performance

PACS stock opened at $46.93 on Tuesday. The firm has a 50 day moving average price of $43.58 and a 200-day moving average price of $40.42. PACS Group has a 52-week low of $10.31 and a 52-week high of $49.49. The firm has a market capitalization of $7.43 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 1.46 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 issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.09. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.41 billion. PACS Group had a return on equity of 29.55% and a net margin of 4.85%. Equities research analysts forecast that PACS Group will post 2.13 EPS for the current fiscal year.

About PACS Group

PACS Group, Inc is a healthcare services company that operates skilled nursing and other post-acute care facilities in the United States. Its facilities provide services for patients who require medical care, rehabilitation, recovery support, or assistance with daily activities following hospitalization or other acute health events.

The company’s services generally include skilled nursing, physical and occupational therapy, speech therapy, long-term care, short-term rehabilitation, and other specialized post-acute programs.