PACS Group (NYSE:PACS) Shares Gap Up – Still a Buy?

Shares of PACS Group, Inc. (NYSE:PACS) gapped up before the market opened on Tuesday . The stock had previously closed at $39.94, but opened at $41.63. PACS Group shares last traded at $41.4410, with a volume of 128,774 shares.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. UBS Group upped their price target on PACS Group from $42.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Oppenheimer lifted their price objective on PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Wall Street Zen upgraded PACS Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 15th. Zacks Research lowered PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of PACS Group in a research note on Wednesday, June 24th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $48.00.

PACS Group Stock Performance

The company has a market capitalization of $7.02 billion, a P/E ratio of 28.43, a PEG ratio of 1.27 and a beta of -0.08. The stock has a fifty day simple moving average of $36.83 and a 200-day simple moving average of $36.50. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.27.

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

Insider Buying and Selling at PACS Group

In other news, insider John Todd Mitchell sold 52,763 shares of PACS Group stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $38.02, for a total value of $2,006,049.26. Following the completion of the transaction, the insider owned 830,955 shares in the company, valued at approximately $31,592,909.10. The trade was a 5.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Hancock sold 153,254 shares of PACS Group stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $36.34, for a total transaction of $5,569,250.36. Following the completion of the transaction, the insider owned 54,449,343 shares of the company’s stock, valued at $1,978,689,124.62. This trade represents a 0.28% 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 a total of 595,152 shares of company stock worth $22,500,363 over the last ninety days. Corporate insiders own 70.10% of the company’s stock.

Institutional Investors Weigh In On PACS Group

A number of large investors have recently bought and sold shares of the business. Alyeska Investment Group L.P. raised its position in PACS Group by 159.5% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company’s stock valued at $86,378,000 after purchasing an additional 1,382,984 shares during the last quarter. Crewe Advisors LLC grew its holdings in shares of 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 purchasing an additional 1,035,747 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of PACS Group by 348.6% during the third quarter. Marshall Wace LLP now owns 1,010,906 shares of the company’s stock worth $13,880,000 after purchasing an additional 785,537 shares during the last quarter. Ameriprise Financial Inc. increased 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 increased its stake in shares of PACS Group by 370.2% in 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 in 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.