PACS Group (NYSE:PACS) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of PACS Group (NYSE:PACS) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday.

PACS has been the topic of a number of other research reports. UBS Group boosted their price target on PACS Group from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday. Oppenheimer raised their price objective on PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Truist Financial lifted their target price on PACS Group from $52.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Zacks Research lowered PACS Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Finally, Royal Bank Of Canada increased their price target on PACS Group from $52.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

PACS Group Stock Performance

Shares of PACS stock opened at $48.61 on Friday. The company has a fifty day moving average price of $42.00 and a two-hundred day moving average price of $37.93. PACS Group has a one year low of $7.50 and a one year high of $49.49. The stock has a market cap of $7.69 billion, a P/E ratio of 28.26, a P/E/G ratio of 1.45 and a beta of -0.08. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.91 and a quick ratio of 0.91.

PACS Group (NYSE:PACS) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.09. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.41 billion. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. As a group, equities analysts predict that PACS Group will post 2.23 EPS 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 stock was 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 directly owned 355,338 shares of the company’s stock, valued at approximately $16,004,423.52. This trade represents a 1.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Hancock sold 4,966 shares of PACS Group stock in a transaction that occurred 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 sale, the director directly owned 53,920,512 shares of the company’s stock, valued at approximately $2,429,658,270.72. The trade was a 0.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 796,524 shares of company stock valued at $31,611,396. Corporate insiders own 70.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hollencrest Capital Management acquired a new stake in PACS Group during the fourth quarter worth about $27,000. Financial Management Professionals Inc. raised its position in shares of PACS Group by 54.9% in the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock valued at $28,000 after buying an additional 235 shares in the last quarter. Quarry LP raised its position in shares of PACS Group by 79.5% in the 3rd quarter. Quarry LP now owns 2,388 shares of the company’s stock valued at $33,000 after buying an additional 1,058 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of PACS Group by 127.0% during the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $42,000 after acquiring an additional 612 shares during the period. Finally, KBC Group NV bought a new stake in shares of PACS Group during the 1st quarter worth approximately $42,000.

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.