PACS Group (NYSE:PACS) Sets New 12-Month High on Analyst Upgrade

PACS Group, Inc. (NYSE:PACS) shares hit a new 52-week high on Thursday after Royal Bank Of Canada raised their price target on the stock from $52.00 to $57.00. Royal Bank Of Canada currently has an outperform rating on the stock. PACS Group traded as high as $49.49 and last traded at $48.4360, with a volume of 98624 shares trading hands. The stock had previously closed at $45.64.

A number of other equities analysts have also recently commented on PACS. Oppenheimer lifted their price target on shares of PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. UBS Group increased their price objective on shares of PACS Group from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday. Weiss Ratings raised shares of PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 8th. Wall Street Zen upgraded PACS Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 15th. Finally, Zacks Research cut PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.20.

Insider Buying and Selling at PACS Group

In other news, CAO Michelle Renee Lewis sold 4,137 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $45.04, for a total value of $186,330.48. Following the transaction, the chief accounting officer directly owned 355,338 shares in the company, valued at approximately $16,004,423.52. This represents a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Hancock sold 4,966 shares of the firm’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $45.06, for a total transaction of $223,767.96. Following the completion of the transaction, the director directly owned 53,920,512 shares in the company, valued at $2,429,658,270.72. This represents a 0.01% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 796,524 shares of company stock valued at $31,611,396. Corporate insiders own 70.10% of the company’s stock.

Hedge Funds Weigh In On PACS Group

A number of institutional investors have recently modified their holdings of the stock. Hollencrest Capital Management purchased a new stake in shares of PACS Group in the fourth quarter valued at approximately $27,000. Financial Management Professionals Inc. increased its holdings in 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 purchasing an additional 235 shares during the period. Quarry LP increased its holdings in PACS Group by 79.5% during the 3rd quarter. Quarry LP now owns 2,388 shares of the company’s stock worth $33,000 after purchasing an additional 1,058 shares during the period. Larson Financial Group LLC raised its position in PACS Group by 127.0% during the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $42,000 after purchasing an additional 612 shares in the last quarter. Finally, KBC Group NV bought a new stake in PACS Group during the 1st quarter valued at $42,000.

PACS Group Stock Up 3.7%

The firm has a market capitalization of $7.66 billion, a PE ratio of 28.13, a PEG ratio of 1.40 and a beta of -0.08. The company has a fifty day simple moving average of $41.73 and a two-hundred day simple moving average of $37.84. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.99 and a current ratio of 0.91.

PACS Group (NYSE:PACS) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.09. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.41 billion. PACS Group had a return on equity of 29.55% and a net margin of 4.85%. Analysts forecast that PACS Group, Inc. will post 2.23 EPS for the current fiscal year.

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.