PACS Group (NYSE:PACS) Sees Strong Trading Volume on Analyst Upgrade

Shares of PACS Group, Inc. (NYSE:PACS) saw unusually-strong trading volume on Friday after Royal Bank Of Canada raised their price target on the stock from $32.00 to $33.00. Royal Bank Of Canada currently has an outperform rating on the stock. Approximately 1,413,981 shares traded hands during trading, an increase of 76% from the previous session’s volume of 802,865 shares.The stock last traded at $26.1050 and had previously closed at $26.14.

Separately, Weiss Ratings restated a “sell (d)” rating on shares of PACS Group in a research note on Saturday, September 27th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $26.75.

Hedge Funds Weigh In On PACS Group

A number of hedge funds have recently bought and sold shares of PACS. Dynamic Technology Lab Private Ltd purchased a new stake in shares of PACS Group during the first quarter valued at approximately $469,000. Nuveen LLC purchased a new stake in PACS Group during the 1st quarter valued at $1,918,000. Los Angeles Capital Management LLC purchased a new stake in PACS Group during the 2nd quarter valued at $1,654,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of PACS Group by 19.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,078 shares of the company’s stock worth $282,000 after purchasing an additional 4,100 shares during the last quarter. Finally, Bleakley Financial Group LLC bought a new position in shares of PACS Group during the second quarter valued at $297,000.

PACS Group Price Performance

The firm has a 50-day moving average of $12.95 and a 200 day moving average of $11.89. The company has a market capitalization of $3.99 billion, a PE ratio of 84.40 and a beta of 1.05.

PACS Group (NYSE:PACS) last posted its earnings results on Wednesday, November 19th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.14). The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.11 billion. PACS Group has set its FY 2025 guidance at EPS. Equities analysts expect that PACS Group, Inc. will post 1.01 EPS for the current 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.