Analysts Set PACS Group, Inc. (NYSE:PACS) Target Price at $50.60

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

PACS has been the subject of several research analyst reports. Wall Street Zen upgraded shares of PACS Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 15th. Oppenheimer raised their price target on shares of PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Weiss Ratings raised shares of PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 8th. UBS Group boosted their target price on PACS Group from $50.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Finally, Truist Financial raised their price objective on PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, May 18th.

Insider Activity

In related news, Director Mark Hancock sold 4,966 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $45.06, for a total value of $223,767.96. Following the completion of the sale, the director directly owned 53,920,512 shares of the company’s stock, valued at approximately $2,429,658,270.72. This represents a 0.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michelle Renee Lewis sold 4,137 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $45.04, for a total transaction of $186,330.48. Following the completion of the sale, the chief accounting officer owned 355,338 shares of the company’s stock, valued at approximately $16,004,423.52. This represents a 1.15% decrease in their position. 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. Over the last three months, insiders have sold 796,524 shares of company stock valued at $31,611,396. 70.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in PACS Group by 14.4% during the fourth quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock worth $172,994,000 after buying an additional 566,502 shares during the last quarter. Alyeska Investment Group L.P. increased its stake 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 shares of PACS Group by 93.1% in the 4th quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company’s stock worth $82,455,000 after purchasing an additional 1,035,747 shares during the period. Balyasny Asset Management L.P. raised its holdings in shares of PACS Group by 67.3% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,356,240 shares of the company’s stock worth $18,621,000 after purchasing an additional 545,348 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in PACS Group by 19.6% in the third quarter. Ameriprise Financial Inc. now owns 1,350,551 shares of the company’s stock valued at $18,543,000 after purchasing an additional 220,939 shares during the last quarter.

PACS Group Stock Up 1.6%

Shares of NYSE:PACS opened at $45.55 on Thursday. PACS Group has a 1 year low of $7.50 and a 1 year high of $48.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.99 and a quick ratio of 0.99. The business’s 50-day moving average is $41.32 and its 200-day moving average is $37.71. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of 26.48, a P/E/G ratio of 1.34 and a beta of -0.08.

PACS Group (NYSE:PACS) last released its earnings results on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.54 by $0.09. PACS Group had a return on equity of 30.77% and a net margin of 4.85%.The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Equities research analysts predict that PACS Group will post 2.23 earnings per share for the current year.

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.