PACS Group, Inc. (NYSE:PACS) Given Consensus Rating of “Hold” by Analysts

Shares of PACS Group, Inc. (NYSE:PACS) have been assigned a consensus rating of “Hold” from the five brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $43.25.

A number of equities analysts have weighed in on PACS shares. Wall Street Zen downgraded shares of PACS Group from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th. JPMorgan Chase & Co. began coverage on PACS Group in a research note on Wednesday, December 17th. They set an “overweight” rating and a $44.00 price objective for the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $47.00 target price on shares of PACS Group in a report on Friday, December 19th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PACS Group in a research report on Monday, December 22nd. Finally, Zacks Research cut shares of PACS Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 2nd.

Insider Activity at PACS Group

In other news, Director Evelyn S. Dilsaver acquired 16,724 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was bought at an average cost of $29.90 per share, for a total transaction of $500,047.60. Following the acquisition, the director directly owned 22,739 shares in the company, valued at approximately $679,896.10. The trade was a 278.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John Todd Mitchell sold 159,556 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $29.89, for a total value of $4,769,128.84. Following the completion of the transaction, the insider directly owned 755,836 shares in the company, valued at $22,591,938.04. This trade represents a 17.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 70.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC increased its holdings in PACS Group by 36.7% in the 4th quarter. SG Americas Securities LLC now owns 14,278 shares of the company’s stock worth $548,000 after buying an additional 3,837 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of PACS Group during the 4th quarter valued at about $328,000. Strategic Advocates LLC bought a new stake in shares of PACS Group in the third quarter worth approximately $60,000. PharVision Advisers LLC purchased a new position in shares of PACS Group during the third quarter valued at approximately $200,000. Finally, Zimmer Partners LP lifted its position in PACS Group by 27.4% during the third quarter. Zimmer Partners LP now owns 302,500 shares of the company’s stock valued at $4,153,000 after purchasing an additional 65,000 shares during the period.

PACS Group Stock Performance

Shares of PACS Group stock opened at $41.26 on Friday. PACS Group has a 12 month low of $7.50 and a 12 month high of $42.62. The firm has a market capitalization of $6.46 billion, a P/E ratio of 39.30, a P/E/G ratio of 1.34 and a beta of -0.68. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.28. The business has a fifty day simple moving average of $29.18 and a two-hundred day simple moving average of $18.05.

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

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.