PACS Group (NYSE:PACS) Reaches New 12-Month High Following Analyst Upgrade

PACS Group, Inc. (NYSE:PACS)’s stock price hit a new 52-week high on Thursday after Royal Bank Of Canada raised their price target on the stock from $32.00 to $33.00. Royal Bank Of Canada currently has an outperform rating on the stock. PACS Group traded as high as $27.48 and last traded at $26.4660, with a volume of 5457743 shares. The stock had previously closed at $16.83.

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of PACS Group in a report on Saturday, September 27th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, PACS Group has an average rating of “Hold” and a consensus price target of $26.75.

Hedge Funds Weigh In On PACS Group

A number of hedge funds and other institutional investors have recently modified their holdings of PACS. Alyeska Investment Group L.P. purchased a new stake in PACS Group in the 3rd quarter worth $11,904,000. Royce & Associates LP increased its holdings in shares of PACS Group by 76.6% in the third quarter. Royce & Associates LP now owns 1,859,070 shares of the company’s stock worth $25,525,000 after purchasing an additional 806,446 shares during the last quarter. Marshall Wace LLP lifted its position 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 worth $13,880,000 after buying an additional 785,537 shares in the last quarter. Ameriprise Financial Inc. lifted its position 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 worth $14,595,000 after buying an additional 617,124 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its stake in PACS Group by 67.3% during the third quarter. Balyasny Asset Management L.P. now owns 1,356,240 shares of the company’s stock valued at $18,621,000 after buying an additional 545,348 shares during the last quarter.

PACS Group Stock Performance

The firm has a market cap of $4.04 billion, a PE ratio of 86.73 and a beta of 1.05. The firm has a fifty day simple moving average of $12.62 and a two-hundred day simple moving average of $11.79.

PACS Group (NYSE:PACS) last issued its quarterly earnings data on Wednesday, November 19th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.14). The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.11 billion. PACS Group has set its FY 2025 guidance at EPS. Equities analysts forecast that PACS Group, Inc. will post 1.01 EPS for the current fiscal year.

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.