Wall Street Zen Upgrades PACS Group (NYSE:PACS) to Buy

PACS Group (NYSE:PACS) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other research analysts have also commented on PACS. UBS Group reiterated a “buy” rating and set a $42.00 price target (down from $50.00) on shares of PACS Group in a report on Thursday, December 18th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PACS Group in a research report on Monday, December 22nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $47.00 price target on shares of PACS Group in a report on Friday, December 19th. Truist Financial set a $40.00 price target on shares of PACS Group in a research report on Friday, December 12th. Finally, Zacks Research lowered shares of PACS Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 2nd. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, PACS Group presently has a consensus rating of “Hold” and an average price target of $43.25.

PACS Group Stock Down 1.8%

PACS stock opened at $38.67 on Friday. The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of 36.83, a price-to-earnings-growth ratio of 1.28 and a beta of -0.68. The company has a 50-day moving average of $31.97 and a two-hundred day moving average of $18.97. PACS Group has a 52-week low of $7.50 and a 52-week high of $43.08. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.94 and a quick ratio of 0.94.

PACS Group (NYSE:PACS) last posted its quarterly earnings data 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). 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 for the quarter, compared to analyst estimates of $1.11 billion. As a group, equities research analysts anticipate that PACS Group will post 1.01 EPS for the current year.

Insider Transactions at PACS Group

In other PACS Group news, Director Evelyn S. Dilsaver purchased 16,724 shares of the business’s stock in a transaction on Monday, November 24th. The stock was purchased at an average price of $29.90 per share, for a total transaction of $500,047.60. Following the completion of the purchase, the director directly owned 22,739 shares in the company, valued at approximately $679,896.10. This trade represents a 278.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Todd Mitchell sold 159,556 shares of PACS Group 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 sale, the insider directly owned 755,836 shares in the company, valued at $22,591,938.04. The trade was a 17.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 70.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PACS Group

Hedge funds have recently modified their holdings of the stock. Crewe Advisors LLC lifted its position in shares of PACS Group by 93.1% during the 4th quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company’s stock worth $82,455,000 after buying an additional 1,035,747 shares during the period. Alyeska Investment Group L.P. acquired a new position in PACS Group during the third quarter worth $11,904,000. Royce & Associates LP lifted its holdings in shares of PACS Group by 76.6% during the third quarter. Royce & Associates LP now owns 1,859,070 shares of the company’s stock valued at $25,525,000 after acquiring an additional 806,446 shares during the period. Marshall Wace LLP boosted its stake in shares of PACS Group by 348.6% in the 3rd quarter. Marshall Wace LLP now owns 1,010,906 shares of the company’s stock valued at $13,880,000 after purchasing an additional 785,537 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of PACS Group by 120.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,129,612 shares of the company’s stock valued at $14,595,000 after purchasing an additional 617,124 shares in the last quarter.

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.