PACS Group (NYSE:PACS) Upgraded by Wall Street Zen to Strong-Buy Rating

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

Several other research firms also recently weighed in on PACS. Royal Bank Of Canada boosted their target price on PACS Group from $47.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. UBS Group boosted their target price on PACS Group from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Weiss Ratings reissued a “hold (c)” rating on shares of PACS Group in a research report on Friday, March 27th. Truist Financial boosted their target price on PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Finally, Oppenheimer boosted their target price on PACS Group from $42.00 to $48.00 and gave the company 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $48.00.

PACS Group Stock Performance

NYSE:PACS opened at $36.62 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.99 and a quick ratio of 0.99. PACS Group has a 1 year low of $7.50 and a 1 year high of $43.08. The stock’s 50 day simple moving average is $34.90 and its two-hundred day simple moving average is $34.43. The company has a market cap of $5.80 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 1.16 and a beta of -0.03.

PACS Group (NYSE:PACS) last released its quarterly earnings data on Monday, May 11th. The company reported $0.50 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $1.36 billion. As a group, equities analysts anticipate that PACS Group will post 2.19 earnings per share for the current fiscal year.

Insider Buying and Selling at PACS Group

In other PACS Group news, insider John Todd Mitchell sold 52,763 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $38.02, for a total value of $2,006,049.26. Following the transaction, the insider owned 830,955 shares of the company’s stock, valued at $31,592,909.10. This represents a 5.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Joshua Jergensen sold 36,335 shares of the company’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $34.28, for a total value of $1,245,563.80. Following the completion of the transaction, the chief operating officer directly owned 2,667,347 shares in the company, valued at $91,436,655.16. This trade represents a 1.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 116,487 shares of company stock worth $4,269,388 in the last ninety days. 70.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PACS Group

Hedge funds have recently bought and sold shares of the business. Hollencrest Capital Management bought a new position in PACS Group in the 4th quarter valued at $27,000. Larson Financial Group LLC grew its position in PACS Group by 127.0% in the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $42,000 after acquiring an additional 612 shares during the last quarter. KBC Group NV purchased a new stake in shares of PACS Group in the 1st quarter worth $42,000. Western Wealth Management LLC purchased a new stake in shares of PACS Group in the 1st quarter worth $48,000. Finally, Physician Wealth Advisors Inc. purchased a new stake in shares of PACS Group in the 4th quarter worth $74,000.

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.