PACS Group, Inc. (NYSE:PACS) Receives $44.40 Average Price Target from Brokerages

PACS Group, Inc. (NYSE:PACS) has been assigned a consensus recommendation of “Buy” from the six research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $44.40.

PACS has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of PACS Group in a research note on Monday, December 22nd. Zacks Research upgraded PACS Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 4th. Truist Financial set a $40.00 target price on PACS Group in a research report on Friday, December 12th. JPMorgan Chase & Co. assumed coverage on PACS Group in a research note on Wednesday, December 17th. They issued an “overweight” rating and a $44.00 target price for the company. Finally, Royal Bank Of Canada lifted their price target on PACS Group from $47.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, February 27th.

Insider Buying and Selling

In other news, COO Joshua Jergensen sold 36,335 shares of the business’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $34.28, for a total transaction of $1,245,563.80. Following the sale, the chief operating officer owned 2,667,347 shares in the company, valued at approximately $91,436,655.16. The trade was a 1.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 70.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PACS. Hollencrest Capital Management purchased a new position in PACS Group during the 4th quarter valued at about $27,000. Larson Financial Group LLC increased its stake in shares of PACS Group by 127.0% during the fourth quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $42,000 after purchasing an additional 612 shares in the last quarter. Physician Wealth Advisors Inc. bought a new position in shares of PACS Group during the fourth quarter valued at approximately $74,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of PACS Group during the fourth quarter valued at approximately $89,000. Finally, Quarry LP lifted its holdings in shares of PACS Group by 79.5% during the third quarter. Quarry LP now owns 2,388 shares of the company’s stock valued at $33,000 after purchasing an additional 1,058 shares during the last quarter.

PACS Group Trading Down 0.5%

NYSE:PACS opened at $30.43 on Friday. The company has a 50-day moving average price of $36.21 and a 200-day moving average price of $27.71. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 24.74, a P/E/G ratio of 0.98 and a beta of -0.64. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36. PACS Group has a 12 month low of $7.50 and a 12 month high of $43.08.

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.