PACS Group (NYSE:PACS) Sets New 12-Month High – What’s Next?

PACS Group, Inc. (NYSE:PACS) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $43.69 and last traded at $43.68, with a volume of 28962 shares changing hands. The stock had previously closed at $42.68.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Stephens raised their target price on PACS Group from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Truist Financial raised their price objective on PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a report on Monday, October 14th. UBS Group initiated coverage on shares of PACS Group in a report on Wednesday, October 9th. They set a “buy” rating and a $50.00 target price for the company. Oppenheimer raised their price target on shares of PACS Group from $32.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. Finally, Citigroup initiated coverage on shares of PACS Group in a research report on Wednesday, September 11th. They set a “buy” rating and a $45.00 price target on the stock. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $39.38.

PACS Group Stock Up 0.6 %

The business’s 50-day simple moving average is $40.14 and its two-hundred day simple moving average is $33.79. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71.

PACS Group (NYSE:PACS) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.35 by ($0.42). The firm had revenue of $981.80 million during the quarter, compared to analyst estimates of $919.22 million. The firm’s revenue for the quarter was up 29.1% compared to the same quarter last year. As a group, equities research analysts predict that PACS Group, Inc. will post 1.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Amalgamated Bank acquired a new position in PACS Group during the 2nd quarter worth approximately $25,000. Whittier Trust Co. grew its stake in shares of PACS Group by 152.2% during the third quarter. Whittier Trust Co. now owns 1,382 shares of the company’s stock worth $55,000 after purchasing an additional 834 shares in the last quarter. US Bancorp DE increased its holdings in PACS Group by 56.2% in the third quarter. US Bancorp DE now owns 6,681 shares of the company’s stock valued at $267,000 after buying an additional 2,404 shares during the last quarter. Sandia Investment Management LP acquired a new stake in PACS Group in the second quarter valued at $295,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in PACS Group in the second quarter valued at $302,000.

PACS Group Company Profile

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.