Truist Financial Lowers PACS Group (NYSE:PACS) Price Target to $32.00

PACS Group (NYSE:PACS) had its target price reduced by stock analysts at Truist Financial from $46.00 to $32.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target indicates a potential upside of 141.33% from the stock’s previous close.

A number of other research analysts have also weighed in on PACS. UBS Group started coverage on PACS Group in a report on Wednesday, October 9th. They set a “buy” rating and a $50.00 target price for the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $18.00 target price on shares of PACS Group in a report on Tuesday, December 17th. Citigroup started coverage on shares of PACS Group in a report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 price target for the company. Finally, Stephens decreased their price target on shares of PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $34.00.

PACS Group Stock Performance

NYSE:PACS opened at $13.26 on Monday. PACS Group has a 1 year low of $12.54 and a 1 year high of $43.92. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71. The stock’s fifty day moving average price is $18.41 and its two-hundred day moving average price is $30.26.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in PACS Group by 60.5% during the third quarter. Wellington Management Group LLP now owns 5,376,551 shares of the company’s stock worth $214,901,000 after purchasing an additional 2,025,835 shares during the last quarter. Zimmer Partners LP lifted its position in PACS Group by 191.2% in the 3rd quarter. Zimmer Partners LP now owns 2,329,529 shares of the company’s stock worth $93,111,000 after buying an additional 1,529,529 shares during the last quarter. FMR LLC boosted its stake in PACS Group by 174.4% in the third quarter. FMR LLC now owns 1,641,651 shares of the company’s stock worth $65,617,000 after buying an additional 1,043,399 shares in the last quarter. JPMorgan Chase & Co. grew its position in PACS Group by 5.9% during the third quarter. JPMorgan Chase & Co. now owns 1,272,720 shares of the company’s stock valued at $50,871,000 after acquiring an additional 70,786 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of PACS Group by 65.2% during the third quarter. Geode Capital Management LLC now owns 834,440 shares of the company’s stock worth $33,359,000 after acquiring an additional 329,288 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.