JPMorgan Chase & Co. Increases Stock Holdings in PACS Group, Inc. (NYSE:PACS)

JPMorgan Chase & Co. boosted its holdings in PACS Group, Inc. (NYSE:PACS) by 5.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,272,720 shares of the company’s stock after purchasing an additional 70,786 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.84% of PACS Group worth $50,871,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Amalgamated Bank acquired a new stake in shares of PACS Group during the 2nd quarter worth $25,000. Whittier Trust Co. grew its position in PACS Group by 152.2% during the third quarter. Whittier Trust Co. now owns 1,382 shares of the company’s stock valued at $55,000 after acquiring an additional 834 shares during the period. Crewe Advisors LLC acquired a new stake in PACS Group during the third quarter worth about $66,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of PACS Group in the 3rd quarter worth about $251,000. Finally, US Bancorp DE lifted its stake in shares of PACS Group by 56.2% in the 3rd quarter. US Bancorp DE now owns 6,681 shares of the company’s stock valued at $267,000 after purchasing an additional 2,404 shares in the last quarter.

PACS Group Trading Up 3.2 %

PACS stock opened at $13.35 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71. The firm has a 50 day simple moving average of $18.98 and a 200-day simple moving average of $30.36. PACS Group, Inc. has a twelve month low of $12.54 and a twelve month high of $43.92.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PACS. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $18.00 target price on shares of PACS Group in a research note on Tuesday, December 17th. Citigroup began coverage on PACS Group in a research report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 price objective on the stock. Truist Financial increased their target price on PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, October 14th. UBS Group initiated coverage on PACS Group in a research report on Wednesday, October 9th. They set a “buy” rating and a $50.00 price target on the stock. Finally, Stephens lowered their price objective on shares of PACS Group from $48.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.13.

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.