PACS Group, Inc. (NYSE:PACS) Given Average Rating of “Moderate Buy” by Analysts

PACS Group, Inc. (NYSE:PACS) has earned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $50.60.

A number of research firms have weighed in on PACS. Weiss Ratings raised shares of PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday. Zacks Research lowered shares of PACS Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. UBS Group upped their price target on shares of PACS Group from $50.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday. Truist Financial increased their price target on PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Finally, Wall Street Zen raised PACS Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 15th.

PACS Group Trading Down 1.3%

Shares of NYSE:PACS traded down $0.58 during midday trading on Friday, hitting $43.24. 687,897 shares of the stock were exchanged, compared to its average volume of 926,472. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of 27.72, a P/E/G ratio of 1.29 and a beta of -0.08. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.99 and a current ratio of 0.99. The business’s 50-day moving average price is $38.13 and its 200 day moving average price is $36.94. PACS Group has a 12 month low of $7.50 and a 12 month high of $45.89.

PACS Group (NYSE:PACS) last released its quarterly earnings results on Monday, May 11th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.08. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.36 billion. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. Analysts predict that PACS Group will post 2.23 earnings per share for the current year.

Insiders Place Their Bets

In other PACS Group news, CAO Michelle Renee Lewis sold 15,000 shares of the firm’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $40.01, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Hancock sold 153,254 shares of PACS Group stock in a transaction on Monday, June 15th. The shares were sold at an average price of $36.34, for a total transaction of $5,569,250.36. Following the completion of the sale, the insider directly owned 54,449,343 shares of the company’s stock, valued at approximately $1,978,689,124.62. This trade represents a 0.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 796,524 shares of company stock worth $31,611,396. Corporate insiders own 70.10% of the company’s stock.

Institutional Trading of PACS Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PACS. Hollencrest Capital Management acquired a new stake in PACS Group in the fourth quarter valued at approximately $27,000. Financial Management Professionals Inc. raised its position in shares of PACS Group by 54.9% during the second quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock worth $28,000 after purchasing an additional 235 shares during the period. Quarry LP lifted its holdings in shares of PACS Group by 79.5% in the 3rd quarter. Quarry LP now owns 2,388 shares of the company’s stock worth $33,000 after purchasing an additional 1,058 shares in the last quarter. 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 purchasing an additional 612 shares during the period. Finally, KBC Group NV acquired a new stake in PACS Group in the 1st quarter valued at $42,000.

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.