PACS Group, Inc. (NYSE:PACS) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of PACS Group, Inc. (NYSE:PACS) have received an average recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $48.00.

Several research firms recently issued reports on PACS. Weiss Ratings reissued a “hold (c)” rating on shares of PACS Group in a research report on Wednesday, June 24th. Wall Street Zen raised shares of PACS Group from a “buy” rating to a “strong-buy” rating in a report on Monday, June 15th. 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 cut shares of PACS Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Finally, Truist Financial raised their price target on shares of PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, May 18th.

PACS Group Stock Up 0.3%

Shares of PACS Group stock opened at $44.61 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 firm has a market cap of $7.06 billion, a P/E ratio of 28.59, a P/E/G ratio of 1.33 and a beta of -0.08. PACS Group has a fifty-two week low of $7.50 and a fifty-two week high of $45.20. The business has a 50-day moving average price of $37.20 and a 200 day moving average price of $36.63.

PACS Group (NYSE:PACS) last released its earnings results on Monday, May 11th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.08. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.36 billion. PACS Group had a return on equity of 26.47% and a net margin of 4.49%. On average, sell-side analysts forecast that PACS Group will post 2.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other PACS Group news, insider John Todd Mitchell sold 27,389 shares of PACS Group stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $37.16, for a total value of $1,017,775.24. Following the completion of the transaction, the insider directly owned 803,566 shares in the company, valued at $29,860,512.56. The trade was a 3.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Hancock sold 61,931 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $40.50, for a total value of $2,508,205.50. Following the transaction, the insider directly owned 54,102,597 shares of the company’s stock, valued at $2,191,155,178.50. This trade represents a 0.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 595,152 shares of company stock worth $22,500,363 over the last quarter. 70.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PACS. Vanguard Group Inc. increased its position in PACS Group by 14.4% in the fourth quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock worth $172,994,000 after buying an additional 566,502 shares during the period. Crewe Advisors LLC boosted its holdings in shares of PACS Group by 93.1% during the fourth quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company’s stock valued at $82,455,000 after acquiring an additional 1,035,747 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of PACS Group during the first quarter worth about $6,762,000. Maven Securities LTD bought a new position in shares of PACS Group during the fourth quarter worth about $960,000. Finally, Corient Private Wealth LLC increased its holdings in shares of PACS Group by 29.7% in the 4th quarter. Corient Private Wealth LLC now owns 170,052 shares of the company’s stock worth $6,528,000 after acquiring an additional 38,956 shares during the period.

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.