PACS Group (NYSE:PACS) Upgraded at Wall Street Zen

PACS Group (NYSE:PACS) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Monday.

PACS has been the topic of several other research reports. UBS Group increased their price target on PACS Group from $42.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Weiss Ratings restated a “hold (c)” rating on shares of PACS Group in a research note on Friday, March 27th. Zacks Research downgraded shares of PACS Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Royal Bank Of Canada raised 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. Finally, Oppenheimer lifted their target price on shares of PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.00.

PACS Group Stock Performance

PACS opened at $36.39 on Monday. The company has a market cap of $5.76 billion and a PE ratio of 23.33. The stock has a 50-day moving average of $35.58 and a 200-day moving average of $35.87. PACS Group has a 52-week low of $7.50 and a 52-week high of $43.08. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.99 and a current ratio of 0.99.

PACS Group (NYSE:PACS) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.50 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, equities research analysts forecast that PACS Group will post 2.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider John Todd Mitchell sold 52,763 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $38.02, for a total transaction of $2,006,049.26. Following the completion of the transaction, the insider directly owned 830,955 shares in the company, valued at $31,592,909.10. The trade was a 5.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 70.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PACS Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royce & Associates LP grew its position in PACS Group by 76.6% in the 3rd quarter. Royce & Associates LP now owns 1,859,070 shares of the company’s stock worth $25,525,000 after purchasing an additional 806,446 shares during the last quarter. Vanguard Group Inc. raised its position in shares of PACS Group by 14.4% during the fourth quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock valued at $172,994,000 after buying an additional 566,502 shares during the last quarter. Crewe Advisors LLC lifted its stake 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 valued at $82,455,000 after buying an additional 1,035,747 shares during the period. Fox Run Management L.L.C. lifted its stake in shares of PACS Group by 216.6% in the third quarter. Fox Run Management L.L.C. now owns 36,502 shares of the company’s stock valued at $501,000 after buying an additional 24,971 shares during the period. Finally, Versor Investments LP acquired a new stake in PACS Group during the fourth quarter worth about $542,000.

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.