PACS Group (NYSE:PACS) Sets New 52-Week High – Time to Buy?

PACS Group, Inc. (NYSE:PACS)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $43.93 and last traded at $42.6220, with a volume of 1451023 shares. The stock had previously closed at $39.94.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of PACS Group in a research report on Wednesday, June 24th. Oppenheimer upped their price target on PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Zacks Research cut PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Wall Street Zen raised shares of PACS Group from a “buy” rating to a “strong-buy” rating in a report on Monday, June 15th. Finally, 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. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, PACS Group has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

PACS Group Stock Performance

The company has a market capitalization of $6.75 billion and a price-to-earnings ratio of 27.32. The stock has a 50 day simple moving average of $36.66 and a 200 day simple moving average of $36.43. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.27.

PACS Group (NYSE:PACS) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.08. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.36 billion. PACS Group had a return on equity of 26.47% and a net margin of 4.49%. As a group, analysts anticipate that PACS Group, Inc. will post 2.23 earnings per share for the current fiscal year.

Insider Buying and Selling at PACS Group

In related news, insider Mark Hancock sold 61,931 shares of the stock in a transaction dated 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 sale, the insider 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michelle Renee Lewis sold 15,000 shares of the stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $40.01, for a total transaction of $600,150.00. Following the completion of the sale, the chief accounting officer directly owned 370,338 shares in the company, valued at approximately $14,817,223.38. This trade represents a 3.89% 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 three months, insiders have sold 595,152 shares of company stock worth $22,500,363. 70.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

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