PACS Group (NYSE:PACS) Downgraded to “Hold” Rating by Wall Street Zen

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

Several other research firms have also issued reports on PACS. UBS Group reissued a “buy” rating and set a $42.00 price objective (down previously from $50.00) on shares of PACS Group in a research note on Thursday, December 18th. JPMorgan Chase & Co. assumed coverage on shares of PACS Group in a research note on Wednesday, December 17th. They set an “overweight” rating and a $44.00 price target on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of PACS Group in a report on Monday, December 22nd. Truist Financial set a $40.00 target price on shares of PACS Group in a research note on Friday, December 12th. Finally, Zacks Research upgraded PACS Group from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.25.

PACS Group Trading Up 4.5%

Shares of PACS opened at $38.55 on Friday. PACS Group has a twelve month low of $7.50 and a twelve month high of $43.08. The stock has a market cap of $6.04 billion, a PE ratio of 36.71, a P/E/G ratio of 1.23 and a beta of -0.65. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.28. The business’s 50-day moving average price is $36.33 and its 200-day moving average price is $21.37.

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

Insider Transactions at PACS Group

In other PACS Group news, Director Evelyn S. Dilsaver bought 16,724 shares of PACS Group stock in a transaction dated Monday, November 24th. The shares were purchased at an average cost of $29.90 per share, with a total value of $500,047.60. Following the transaction, the director directly owned 22,739 shares of the company’s stock, valued at $679,896.10. This represents a 278.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Todd Mitchell sold 159,556 shares of the stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $29.89, for a total transaction of $4,769,128.84. Following the completion of the transaction, the insider owned 755,836 shares of the company’s stock, valued at approximately $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 owned by corporate insiders.

Hedge Funds Weigh In On PACS Group

Several large investors have recently made changes to their positions in PACS. Cubist Systematic Strategies LLC purchased a new stake in shares of PACS Group in the 1st quarter worth approximately $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in PACS Group by 6.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the company’s stock valued at $262,000 after buying an additional 1,443 shares during the last quarter. Millennium Management LLC boosted its holdings in PACS Group by 68.3% in the first quarter. Millennium Management LLC now owns 859,295 shares of the company’s stock worth $9,658,000 after acquiring an additional 348,743 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of PACS Group in the first quarter worth $64,000. Finally, Caxton Associates LLP bought a new position in shares of PACS Group during the first quarter valued at $163,000.

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.