PACS Group, Inc. (NYSE:PACS) Receives Average Rating of “Hold” from Analysts

PACS Group, Inc. (NYSE:PACS) has been given an average recommendation of “Hold” by the five research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $32.3333.

Several equities analysts recently weighed in on the stock. Zacks Research cut shares of PACS Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 2nd. Truist Financial set a $40.00 price objective on shares of PACS Group in a report on Friday. Wall Street Zen cut PACS Group from a “buy” rating to a “hold” rating in a report on Sunday, November 30th. Royal Bank Of Canada boosted their target price on PACS Group from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of PACS Group in a report on Monday.

Insider Buying and Selling

In other PACS Group news, Director Evelyn S. Dilsaver bought 16,724 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was purchased at an average cost of $29.90 per share, with a total value of $500,047.60. Following the completion of the acquisition, the director owned 22,739 shares in the company, valued at $679,896.10. This trade represents a 278.04% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Todd Mitchell sold 159,556 shares of the company’s stock in a transaction on 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 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 position. The SEC filing for this sale provides additional information. 70.40% of the stock is currently owned by corporate insiders.

Institutional Trading of PACS Group

Several hedge funds have recently made changes to their positions in PACS. Quarry LP grew its position in PACS Group by 79.5% in the third quarter. Quarry LP now owns 2,388 shares of the company’s stock worth $33,000 after acquiring an additional 1,058 shares in the last quarter. Strategic Advocates LLC bought a new stake in shares of PACS Group in the 3rd quarter valued at approximately $60,000. Jones Financial Companies Lllp bought a new stake in shares of PACS Group in the 1st quarter valued at approximately $64,000. State of Alaska Department of Revenue purchased a new position in shares of PACS Group in the 3rd quarter worth approximately $69,000. Finally, Tower Research Capital LLC TRC increased its position in shares of PACS Group by 289.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,166 shares of the company’s stock valued at $80,000 after purchasing an additional 4,581 shares during the last quarter.

PACS Group Stock Down 1.5%

Shares of PACS opened at $34.23 on Wednesday. The business’s 50 day moving average is $19.88 and its 200 day moving average is $14.66. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.28. PACS Group has a 12-month low of $7.50 and a 12-month high of $35.59. The company has a market capitalization of $5.36 billion, a PE ratio of 32.60, a price-to-earnings-growth ratio of 1.51 and a beta of -0.63.

PACS Group (NYSE:PACS) last posted its quarterly earnings results on Wednesday, November 19th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.36). The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.11 billion. PACS Group had a return on equity of 21.39% and a net margin of 3.29%. Research analysts expect that PACS Group will post 1.01 earnings per share for the current fiscal year.

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.