Geode Capital Management LLC Has $10.75 Million Stock Holdings in PACS Group, Inc. (NYSE:PACS)

Geode Capital Management LLC reduced its position in PACS Group, Inc. (NYSE:PACS) by 1.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 820,027 shares of the company’s stock after selling 14,413 shares during the period. Geode Capital Management LLC owned about 0.54% of PACS Group worth $10,753,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. JPMorgan Chase & Co. raised its position in shares of PACS Group by 6.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,350,842 shares of the company’s stock valued at $17,710,000 after purchasing an additional 78,122 shares during the period. Barclays PLC grew its stake in PACS Group by 651.3% in the 3rd quarter. Barclays PLC now owns 63,366 shares of the company’s stock valued at $2,532,000 after buying an additional 54,932 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in PACS Group by 526.1% in the 4th quarter. Teacher Retirement System of Texas now owns 56,210 shares of the company’s stock valued at $737,000 after acquiring an additional 47,232 shares during the period. Assenagon Asset Management S.A. bought a new position in PACS Group in the 4th quarter valued at about $772,000. Finally, Peterson Wealth Services acquired a new stake in PACS Group during the fourth quarter worth approximately $488,000.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Truist Financial lowered their target price on PACS Group from $46.00 to $32.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Macquarie lowered their price objective on PACS Group from $42.00 to $24.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $34.00.

PACS Group Stock Performance

PACS Group stock opened at $8.69 on Wednesday. The stock’s fifty day moving average price is $11.38 and its two-hundred day moving average price is $17.56. 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, Inc. has a one year low of $8.28 and a one year high of $43.92.

PACS Group 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.