PACS Group (NYSE:PACS) Lowered to Buy Rating by Wall Street Zen

PACS Group (NYSE:PACS) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Sunday.

Other analysts have also issued reports about the stock. UBS Group boosted their target price on shares of PACS Group from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Royal Bank Of Canada boosted their target price on shares of PACS Group from $47.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Oppenheimer boosted their target price on shares of PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Zacks Research lowered shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of PACS Group in a research note on Friday, March 27th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, PACS Group has a consensus rating of “Moderate Buy” and an average target price of $48.00.

PACS Group Stock Down 1.0%

NYSE PACS opened at $37.11 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.27. The company has a fifty day moving average of $35.20 and a two-hundred day moving average of $35.31. The firm has a market capitalization of $5.87 billion and a price-to-earnings ratio of 23.79. PACS Group has a 52 week low of $7.50 and a 52 week high of $43.08.

PACS Group (NYSE:PACS) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.42 by $0.08. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.36 billion. On average, analysts predict that PACS Group will post 2.19 earnings per share for the current year.

Insider Transactions at PACS Group

In other PACS Group news, COO Joshua Jergensen sold 36,335 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer owned 2,667,347 shares of the company’s stock, valued at approximately $91,436,655.16. This trade represents a 1.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Todd Mitchell sold 27,389 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $37.16, for a total transaction of $1,017,775.24. Following the transaction, the insider directly owned 803,566 shares in the company, valued at $29,860,512.56. This trade represents a 3.30% 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. Over the last ninety days, insiders sold 116,487 shares of company stock valued at $4,269,388. 70.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Hollencrest Capital Management purchased a new position in PACS Group during the 4th quarter valued at about $27,000. Quarry LP increased its position in PACS Group by 79.5% during the 3rd 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 period. Larson Financial Group LLC increased its position in PACS Group by 127.0% during the 4th 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 during the period. KBC Group NV purchased a new position in PACS Group during the 1st quarter valued at about $42,000. Finally, Western Wealth Management LLC purchased a new position in PACS Group during the 1st quarter valued at about $48,000.

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.