PACS Group, Inc. (NYSE:PACS) Given Average Recommendation of “Hold” by Brokerages

PACS Group, Inc. (NYSE:PACS) has been given an average rating of “Hold” by the five research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $43.25.

Several research analysts have weighed in on PACS shares. JPMorgan Chase & Co. began coverage on shares of PACS Group in a report on Wednesday, December 17th. They issued an “overweight” rating and a $44.00 price target on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of PACS Group in a research note on Monday, December 22nd. UBS Group restated a “buy” rating and issued a $42.00 price target (down from $50.00) on shares of PACS Group in a research note on Thursday, December 18th. Zacks Research cut PACS Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 2nd. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $47.00 target price on shares of PACS Group in a report on Friday, December 19th.

Insider Activity

In other PACS Group news, insider John Todd Mitchell sold 159,556 shares of PACS Group stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $29.89, for a total value of $4,769,128.84. Following the completion of the sale, the insider owned 755,836 shares in the company, valued at $22,591,938.04. The trade was a 17.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Evelyn S. Dilsaver bought 16,724 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were acquired at an average price of $29.90 per share, for a total transaction of $500,047.60. Following the transaction, the director owned 22,739 shares in the company, valued at approximately $679,896.10. This represents a 278.04% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 70.40% of the stock is owned by insiders.

Hedge Funds Weigh In On PACS Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PACS. Quarry LP lifted its position in shares of PACS Group by 79.5% during the 3rd quarter. Quarry LP now owns 2,388 shares of the company’s stock valued at $33,000 after acquiring an additional 1,058 shares during the period. Strategic Advocates LLC bought a new stake in PACS Group during the third quarter worth about $60,000. Jones Financial Companies Lllp acquired a new stake in PACS Group during the first quarter worth about $64,000. State of Alaska Department of Revenue bought a new position in PACS Group in the 3rd quarter valued at about $69,000. Finally, Tower Research Capital LLC TRC increased its holdings in PACS Group by 289.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,166 shares of the company’s stock valued at $80,000 after buying an additional 4,581 shares during the period.

PACS Group Stock Down 0.6%

PACS stock opened at $39.27 on Friday. PACS Group has a 1-year low of $7.50 and a 1-year high of $43.08. The business’s 50 day simple moving average is $31.44 and its 200 day simple moving average is $18.79. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $6.15 billion, a PE ratio of 37.40, a PEG ratio of 1.29 and a beta of -0.68.

PACS Group (NYSE:PACS) last announced its quarterly earnings results on Wednesday, November 19th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.36). PACS Group had a net margin of 3.29% and a return on equity of 21.39%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.11 billion. As a group, research analysts anticipate that PACS Group will post 1.01 EPS for the current year.

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.