Analysts Set PACS Group, Inc. (NYSE:PACS) Price Target at $48.00

PACS Group, Inc. (NYSE:PACS) has been given an average recommendation of “Moderate Buy” by the seven ratings firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $50.60.

A number of research firms have recently weighed in on PACS. Truist Financial upped their price objective on PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Oppenheimer lifted their target price on PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. UBS Group boosted their target price on PACS Group from $50.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday. Weiss Ratings restated a “hold (c)” rating on shares of PACS Group in a report on Wednesday, June 24th. Finally, Wall Street Zen raised PACS Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 15th.

PACS Group Stock Down 0.7%

Shares of NYSE PACS opened at $43.72 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27. PACS Group has a 12 month low of $7.50 and a 12 month high of $45.89. The firm has a market capitalization of $6.92 billion, a PE ratio of 28.03, a price-to-earnings-growth ratio of 1.32 and a beta of -0.08. The firm has a fifty day simple moving average of $37.93 and a two-hundred day simple moving average of $36.89.

PACS Group (NYSE:PACS) last announced its earnings results on Monday, May 11th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.36 billion. Equities analysts expect that PACS Group will post 2.23 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Michelle Renee Lewis sold 4,137 shares of PACS Group stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $45.04, for a total value of $186,330.48. Following the completion of the transaction, the chief accounting officer owned 355,338 shares in the company, valued at $16,004,423.52. The trade was a 1.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Hancock sold 142,163 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $45.33, for a total transaction of $6,444,248.79. Following the transaction, the director owned 53,945,816 shares of the company’s stock, valued at $2,445,363,839.28. This trade represents a 0.26% 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. Insiders have sold 771,220 shares of company stock worth $30,470,994 over the last 90 days. Insiders own 70.10% of the company’s stock.

Institutional Investors Weigh In On PACS Group

Institutional investors have recently modified their holdings of the company. Alyeska Investment Group L.P. lifted its position in shares of PACS Group by 159.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company’s stock worth $86,378,000 after purchasing an additional 1,382,984 shares during the last quarter. Crewe Advisors LLC raised its holdings in PACS Group by 93.1% during the fourth quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company’s stock worth $82,455,000 after buying an additional 1,035,747 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of PACS Group by 348.6% in the third quarter. Marshall Wace LLP now owns 1,010,906 shares of the company’s stock valued at $13,880,000 after buying an additional 785,537 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of PACS Group by 120.4% in the second quarter. Ameriprise Financial Inc. now owns 1,129,612 shares of the company’s stock valued at $14,595,000 after buying an additional 617,124 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of PACS Group by 370.2% during the first quarter. Dimensional Fund Advisors LP now owns 780,159 shares of the company’s stock valued at $25,051,000 after buying an additional 614,250 shares during the last quarter.

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.