PACS Group (NYSE:PACS) Trading Up 4.2% – Should You Buy?

PACS Group, Inc. (NYSE:PACS)’s stock price shot up 4.2% on Friday . The stock traded as high as $46.40 and last traded at $46.72. 38,534 shares traded hands during trading, a decline of 96% from the average session volume of 930,344 shares. The stock had previously closed at $44.82.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Truist Financial boosted their price objective on PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Wall Street Zen upgraded shares of PACS Group from a “buy” rating to a “strong-buy” rating in a report on Monday, June 15th. UBS Group lifted their price target on shares of PACS Group from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Weiss Ratings upgraded shares of PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 8th. Finally, Oppenheimer increased their price objective on shares of PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $50.60.

PACS Group Stock Up 4.3%

The company has a debt-to-equity ratio of 0.27, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $7.40 billion, a price-to-earnings ratio of 29.96, a PEG ratio of 1.40 and a beta of -0.08. The firm has a 50-day moving average price of $40.00 and a two-hundred day moving average price of $37.43.

PACS Group (NYSE:PACS) last announced its earnings results on Monday, May 11th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. PACS Group had a return on equity of 26.47% and a net margin of 4.49%.The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.36 billion. As a group, sell-side analysts anticipate that PACS Group, Inc. will post 2.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Michelle Renee Lewis sold 4,137 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $45.04, for a total value of $186,330.48. Following the sale, the chief accounting officer owned 355,338 shares of the company’s stock, valued at $16,004,423.52. The trade was a 1.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Hancock sold 4,966 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $45.06, for a total transaction of $223,767.96. Following the transaction, the director owned 53,920,512 shares of the company’s stock, valued at $2,429,658,270.72. The trade was a 0.01% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 796,524 shares of company stock worth $31,611,396. 70.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PACS Group

Large investors have recently modified their holdings of the business. Financial Management Professionals Inc. boosted its position in PACS Group by 54.9% during the second quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock valued at $28,000 after purchasing an additional 235 shares during the last quarter. Hollencrest Capital Management bought a new position in PACS Group in the fourth quarter valued at approximately $27,000. Larson Financial Group LLC increased its position in shares of PACS Group by 127.0% during the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $42,000 after purchasing an additional 612 shares during the last quarter. KBC Group NV acquired a new position in shares of PACS Group during the 1st quarter worth approximately $42,000. Finally, Western Wealth Management LLC bought a new stake in shares of PACS Group during the 1st quarter worth approximately $48,000.

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.