PACS Group’s (PACS) “Buy” Rating Reaffirmed at UBS Group

PACS Group (NYSE:PACS)‘s stock had its “buy” rating reiterated by investment analysts at UBS Group in a research note issued on Thursday,Benzinga reports. They currently have a $42.00 price target on the stock, down from their prior price target of $50.00. UBS Group’s price objective indicates a potential upside of 21.04% from the stock’s current price.

A number of other equities analysts also recently issued reports on PACS. Truist Financial set a $40.00 target price on PACS Group in a research note on Friday, December 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of PACS Group in a research report on Monday. Zacks Research lowered shares of PACS Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 2nd. Wall Street Zen cut shares of PACS Group from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th. Finally, Royal Bank Of Canada raised their price objective on shares of PACS Group from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, PACS Group has an average rating of “Moderate Buy” and an average price target of $36.60.

PACS Group Stock Up 1.5%

Shares of PACS Group stock opened at $34.70 on Thursday. PACS Group has a one year low of $7.50 and a one year high of $35.59. The company has a market cap of $5.43 billion, a P/E ratio of 33.05, a PEG ratio of 1.49 and a beta of -0.63. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a fifty day moving average of $20.31 and a two-hundred day moving average of $14.80.

PACS Group (NYSE:PACS) last issued its quarterly earnings results on Wednesday, November 19th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.36). The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.11 billion. PACS Group had a return on equity of 21.39% and a net margin of 3.29%. On average, analysts forecast that PACS Group will post 1.01 earnings per share for the current year.

Insider Buying and Selling at PACS Group

In other news, Director Evelyn S. Dilsaver purchased 16,724 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was acquired at an average price of $29.90 per share, with a total value of $500,047.60. Following the purchase, the director directly owned 22,739 shares of the company’s stock, valued at $679,896.10. This represents a 278.04% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Todd Mitchell sold 159,556 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $29.89, for a total transaction of $4,769,128.84. Following the completion of the sale, the insider directly owned 755,836 shares in the company, valued at approximately $22,591,938.04. The trade was a 17.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 70.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Strategic Advocates LLC acquired a new position in shares of PACS Group during the 3rd quarter worth approximately $60,000. PharVision Advisers LLC purchased a new position in PACS Group during the third quarter worth $200,000. Zimmer Partners LP raised its holdings in shares of PACS Group by 27.4% in the third quarter. Zimmer Partners LP now owns 302,500 shares of the company’s stock worth $4,153,000 after acquiring an additional 65,000 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of PACS Group in the third quarter worth $11,904,000. Finally, Verition Fund Management LLC lifted its position in shares of PACS Group by 9.9% in the third quarter. Verition Fund Management LLC now owns 39,783 shares of the company’s stock valued at $546,000 after acquiring an additional 3,599 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.