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

Wall Street Zen lowered shares of PACS Group (NYSE:PACS) from a strong-buy rating to a buy rating in a research report report published on Saturday.

PACS has been the topic of a number of other research reports. UBS Group boosted their target price on PACS Group from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday. Oppenheimer lifted their price target on PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Royal Bank Of Canada lifted their price target on PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday. Truist Financial boosted their price objective on PACS Group from $52.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Zacks Research downgraded PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.20.

PACS Group Stock Up 3.7%

PACS Group stock opened at $48.38 on Friday. PACS Group has a fifty-two week low of $7.50 and a fifty-two week high of $49.49. The stock has a market cap of $7.66 billion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 1.45 and a beta of -0.08. The firm’s 50-day simple moving average is $41.73 and its 200 day simple moving average is $37.84. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.99 and a current ratio of 0.91.

PACS Group (NYSE:PACS) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.09. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.41 billion. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. Research analysts predict that PACS Group will post 2.23 EPS for the current fiscal year.

Insider Activity

In related news, insider John Todd Mitchell sold 52,763 shares of PACS Group stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $38.02, for a total value of $2,006,049.26. Following the completion of the sale, the insider owned 830,955 shares of the company’s stock, valued at approximately $31,592,909.10. This trade represents a 5.97% decrease in their position. The sale was disclosed in a legal filing 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 the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $36.34, for a total value of $5,569,250.36. Following the completion of the sale, the insider owned 54,449,343 shares in the company, valued at $1,978,689,124.62. This represents a 0.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 796,524 shares of company stock valued at $31,611,396 in the last 90 days. Insiders own 70.10% of the company’s stock.

Hedge Funds Weigh In On PACS Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PACS. Financial Management Professionals Inc. increased its stake in shares of PACS Group by 54.9% in 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 in the last quarter. Jacobsen Capital Management lifted its stake in shares of PACS Group by 1.6% during the 1st quarter. Jacobsen Capital Management now owns 18,128 shares of the company’s stock valued at $582,000 after buying an additional 294 shares in the last quarter. Larson Financial Group LLC boosted 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 during the period. Hollencrest Capital Management bought a new position in PACS Group in the 4th quarter worth approximately $27,000. Finally, Strategic Advocates LLC boosted its holdings in PACS Group by 18.5% in the 4th quarter. Strategic Advocates LLC now owns 5,182 shares of the company’s stock worth $203,000 after buying an additional 808 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.