PACS Group, Inc. (NYSE:PACS) Stock Rated “Moderate Buy” by Sell-Side Analysts

Shares of PACS Group, Inc. (NYSE:PACS) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $58.80.

A number of equities research analysts have recently commented on the stock. Oppenheimer increased their price target on shares of PACS Group from $48.00 to $57.00 and gave the company an “outperform” rating in a report on Monday, August 10th. 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 note on Thursday, August 6th. JPMorgan Chase & Co. lifted their target price on PACS Group from $47.00 to $58.00 and gave the company an “overweight” rating in a research report on Friday, September 4th. Weiss Ratings raised shares of PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Finally, Truist Financial set a $62.00 price objective on PACS Group in a research report on Wednesday, September 2nd.

Insider Activity

In related news, CEO Jason Murray sold 110,035 shares of the firm’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $47.27, for a total value of $5,201,354.45. Following the completion of the transaction, the chief executive officer directly owned 54,324,982 shares of the company’s stock, valued at approximately $2,567,941,899.14. This trade represents a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Joshua Jergensen sold 40,000 shares of PACS Group stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $45.59, for a total transaction of $1,823,600.00. Following the completion of the transaction, the chief operating officer directly owned 2,536,320 shares of the company’s stock, valued at $115,630,828.80. The trade was a 1.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,185,012 shares of company stock worth $52,143,059 over the last 90 days. Corporate insiders own 70.10% of the company’s stock.

Hedge Funds Weigh In On PACS Group

Several large investors have recently modified their holdings of PACS. Dimensional Fund Advisors LP grew its holdings in PACS Group by 370.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 780,159 shares of the company’s stock valued at $25,051,000 after purchasing an additional 614,250 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in PACS Group during the 1st quarter worth $6,762,000. Bank of New York Mellon Corp bought a new stake in shares of PACS Group in the second quarter valued at about $8,196,000. Principal Financial Group Inc. bought a new stake in shares of PACS Group in the 1st quarter valued at about $3,171,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in PACS Group by 44.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 288,718 shares of the company’s stock worth $9,274,000 after buying an additional 89,067 shares during the period.

PACS Group Price Performance

PACS opened at $45.99 on Tuesday. PACS Group has a 12-month low of $10.31 and a 12-month high of $49.49. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. The stock has a fifty day simple moving average of $43.53 and a two-hundred day simple moving average of $40.59. The company has a market cap of $7.28 billion, a price-to-earnings ratio of 24.95, a price-to-earnings-growth ratio of 1.46 and a beta of -0.08.

PACS Group (NYSE:PACS) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.09. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Research analysts predict that PACS Group will post 2.13 earnings per share for the current fiscal year.

PACS Group Company Profile

PACS Group, Inc is a U.S.-based healthcare services company that owns and operates post-acute care facilities. Its platform focuses primarily on skilled nursing and transitional care, serving patients who require rehabilitation, recovery support, long-term care, and other services following hospitalization or acute medical treatment.

The company’s operations also include assisted living, independent living, and behavioral health services in select locations. Through its facilities and related healthcare capabilities, PACS Group provides services such as nursing care, physical and occupational therapy, speech therapy, medical treatment, and support for patients with complex or extended care needs.

Founded in 2013 and headquartered in Farmington, Utah, PACS Group serves communities across multiple U.S.