PACS Group (NYSE:PACS) Price Target Raised to $58.00 at JPMorgan Chase & Co.

PACS Group (NYSE:PACS) had its price target upped by stock analysts at JPMorgan Chase & Co. from $47.00 to $58.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 35.62% from the stock’s previous close.

PACS has been the subject of a number of other reports. Royal Bank Of Canada boosted their price target on shares of PACS Group from $52.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. UBS Group increased their price objective on PACS Group from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings cut PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Zacks Research upgraded PACS Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $58.80.

PACS Group Price Performance

Shares of PACS stock traded down $0.30 during trading hours on Friday, reaching $42.77. The stock had a trading volume of 106,635 shares, compared to its average volume of 907,067. The stock’s fifty day simple moving average is $44.65 and its 200 day simple moving average is $38.89. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. PACS Group has a 12 month low of $7.50 and a 12 month high of $49.49. The firm has a market capitalization of $6.77 billion, a PE ratio of 24.89, a PEG ratio of 1.22 and a beta of -0.13.

PACS Group (NYSE:PACS) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.54 by $0.09. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.41 billion. On average, equities research analysts predict that PACS Group will post 2.36 EPS for the current year.

Insider Activity

In related news, COO Joshua Jergensen sold 40,000 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $45.59, for a total value of $1,823,600.00. Following the transaction, the chief operating officer owned 2,536,320 shares of the company’s stock, valued at $115,630,828.80. This represents a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 PACS Group stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $45.06, for a total value of $223,767.96. Following the sale, the director directly 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 1,211,151 shares of company stock worth $50,362,653. 70.10% of the stock is currently owned by corporate insiders.

Institutional Trading of PACS Group

Hedge funds have recently bought and sold shares of the company. Corient Private Wealth LP increased its holdings in shares of PACS Group by 1.8% in the second quarter. Corient Private Wealth LP now owns 152,846 shares of the company’s stock worth $6,517,000 after buying an additional 2,680 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in PACS Group during the 2nd quarter valued at $1,893,000. California State Teachers Retirement System raised its holdings in PACS Group by 3,298.3% during the 2nd quarter. California State Teachers Retirement System now owns 1,917,094 shares of the company’s stock valued at $81,745,000 after buying an additional 1,860,680 shares during the last quarter. AXQ Capital LP boosted its position in PACS Group by 13.3% during the 2nd quarter. AXQ Capital LP now owns 21,247 shares of the company’s stock valued at $906,000 after buying an additional 2,502 shares during the period. Finally, Nykredit A S bought a new stake in PACS Group in the 2nd quarter worth $95,000.

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.