PACS Group (NYSE:PACS) Sets New 52-Week High – Time to Buy?

PACS Group, Inc. (NYSE:PACS) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $38.25 and last traded at $37.6570, with a volume of 974838 shares traded. The stock had previously closed at $37.31.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PACS shares. JPMorgan Chase & Co. started coverage on shares of PACS Group in a report on Wednesday, December 17th. They set an “overweight” rating and a $44.00 target price on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $47.00 price objective on shares of PACS Group in a research note on Friday, December 19th. Zacks Research lowered PACS Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 2nd. Wall Street Zen downgraded PACS Group from a “buy” rating to a “hold” rating in a report on Sunday, November 30th. Finally, Truist Financial set a $40.00 price target on PACS Group in a research report on Friday, December 12th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, PACS Group currently has an average rating of “Moderate Buy” and a consensus price target of $39.40.

PACS Group Stock Performance

The firm has a market capitalization of $6.04 billion, a PE ratio of 36.73, a price-to-earnings-growth ratio of 1.75 and a beta of -0.74. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a 50-day moving average price of $23.70 and a 200-day moving average price of $16.14.

PACS Group (NYSE:PACS) last posted its quarterly earnings results on Wednesday, November 19th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.36). PACS Group had a net margin of 3.29% and a return on equity of 21.39%. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.11 billion. On average, research analysts expect that PACS Group, Inc. will post 1.01 EPS for the current fiscal year.

Insider Transactions at PACS Group

In other news, Director Evelyn S. Dilsaver bought 16,724 shares of PACS Group stock in a transaction on Monday, November 24th. The shares were bought at an average price of $29.90 per share, with a total value of $500,047.60. Following the acquisition, the director directly owned 22,739 shares in the company, valued at approximately $679,896.10. This represents a 278.04% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Todd Mitchell sold 159,556 shares of PACS Group stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $29.89, for a total value of $4,769,128.84. Following the completion of the transaction, the insider owned 755,836 shares of the company’s stock, valued at approximately $22,591,938.04. The trade was a 17.43% decrease in their position. The SEC filing for this sale provides additional information. 70.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP grew its stake 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 buying an additional 1,058 shares during the last quarter. Strategic Advocates LLC acquired a new position in shares of PACS Group during the third quarter valued at $60,000. State of Alaska Department of Revenue bought a new position in shares of PACS Group during the third quarter worth about $69,000. Jones Financial Companies Lllp acquired a new stake in shares of PACS Group in the 1st quarter worth about $64,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of PACS Group by 289.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,166 shares of the company’s stock worth $80,000 after acquiring an additional 4,581 shares during the period.

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.