PACS Group, Inc. (NYSE:PACS) Receives $44.50 Consensus Target Price from Analysts

PACS Group, Inc. (NYSE:PACS) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $44.40.

A number of equities research analysts have recently commented on the stock. Oppenheimer lifted their price target on shares of PACS Group from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Wednesday. Truist Financial set a $40.00 target price on shares of PACS Group in a research report on Friday, December 12th. Wall Street Zen upgraded PACS Group from a “hold” rating to a “buy” rating in a report on Sunday, February 15th. Royal Bank Of Canada increased their price target on PACS Group from $47.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. Finally, JPMorgan Chase & Co. assumed coverage on PACS Group in a research report on Wednesday, December 17th. They issued an “overweight” rating and a $44.00 price objective for the company.

PACS Group Trading Down 1.3%

PACS Group stock opened at $36.38 on Monday. The stock has a 50-day moving average price of $38.16 and a 200 day moving average price of $24.88. PACS Group has a 52 week low of $7.50 and a 52 week high of $43.08. The stock has a market cap of $5.72 billion, a PE ratio of 29.58, a P/E/G ratio of 1.23 and a beta of -0.64. The company has a current ratio of 1.07, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PACS. Cubist Systematic Strategies LLC purchased a new stake in PACS Group in the first quarter valued at approximately $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of PACS Group by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the company’s stock valued at $262,000 after purchasing an additional 1,443 shares during the last quarter. Millennium Management LLC grew its stake in shares of PACS Group by 68.3% during the 1st quarter. Millennium Management LLC now owns 859,295 shares of the company’s stock valued at $9,658,000 after buying an additional 348,743 shares during the period. Jones Financial Companies Lllp purchased a new stake in shares of PACS Group during the 1st quarter valued at $64,000. Finally, Caxton Associates LLP acquired a new stake in shares of PACS Group during the 1st quarter worth $163,000.

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.