PACS Group (NYSE:PACS) Raised to “Buy” at Wall Street Zen

PACS Group (NYSE:PACS) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

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

PACS Group Stock Down 3.0%

PACS stock opened at $37.73 on Friday. PACS Group has a 52 week low of $7.50 and a 52 week high of $43.08. 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 firm has a 50-day simple moving average of $37.02 and a 200-day simple moving average of $22.38. The stock has a market capitalization of $5.91 billion, a P/E ratio of 35.93, a P/E/G ratio of 1.26 and a beta of -0.65.

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

Insider Transactions at PACS Group

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

Hedge Funds Weigh In On PACS Group

Several institutional investors have recently modified their holdings of the company. Alyeska Investment Group L.P. lifted its holdings in PACS Group by 159.5% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company’s stock worth $86,378,000 after purchasing an additional 1,382,984 shares during the period. Crewe Advisors LLC boosted its position in shares of PACS Group by 93.1% in the fourth 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. Royce & Associates LP boosted its position in PACS Group by 76.6% during the 3rd quarter. Royce & Associates LP now owns 1,859,070 shares of the company’s stock worth $25,525,000 after acquiring an additional 806,446 shares during the period. Marshall Wace LLP grew its position in PACS Group by 348.6% during the third 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. increased its stake in shares of PACS Group by 120.4% in the second quarter. Ameriprise Financial Inc. now owns 1,129,612 shares of the company’s stock worth $14,595,000 after acquiring an additional 617,124 shares during the last quarter.

PACS Group Company Profile

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.