Analysts Set PACS Group, Inc. (NYSE:PACS) PT at $45.60

PACS Group, Inc. (NYSE:PACS) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $48.00.

A number of analysts recently weighed in on PACS shares. Royal Bank Of Canada increased their price objective on shares of PACS Group from $47.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Zacks Research lowered shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Weiss Ratings reissued a “hold (c)” rating on shares of PACS Group in a research report on Friday, March 27th. UBS Group upped their target price on shares of PACS Group from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Finally, Oppenheimer upped their target price on shares of PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th.

Insider Transactions at PACS Group

In other PACS Group news, insider John Todd Mitchell sold 52,763 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $38.02, for a total value of $2,006,049.26. Following the transaction, the insider directly owned 830,955 shares in the company, valued at $31,592,909.10. This represents a 5.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Joshua Jergensen sold 36,335 shares of the company’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $34.28, for a total transaction of $1,245,563.80. Following the completion of the transaction, the chief operating officer owned 2,667,347 shares in the company, valued at $91,436,655.16. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 116,487 shares of company stock worth $4,269,388 over the last 90 days. Insiders own 70.10% of the company’s stock.

Hedge Funds Weigh In On PACS Group

A number of hedge funds have recently added to or reduced their stakes in PACS. Hollencrest Capital Management bought a new position in PACS Group in the 4th quarter worth about $27,000. Quarry LP grew its stake in 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 acquiring an additional 1,058 shares in the last quarter. Larson Financial Group LLC grew its stake 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 acquiring an additional 612 shares in the last quarter. KBC Group NV bought a new position in PACS Group in the 1st quarter worth about $42,000. Finally, Western Wealth Management LLC bought a new position in PACS Group in the 1st quarter worth about $48,000.

PACS Group Stock Performance

PACS Group stock opened at $36.94 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.99 and a quick ratio of 0.99. PACS Group has a 1-year low of $7.50 and a 1-year high of $43.08. The firm has a market capitalization of $5.85 billion, a P/E ratio of 23.68, a price-to-earnings-growth ratio of 1.12 and a beta of -0.03. The company’s 50-day moving average is $34.44 and its 200 day moving average is $33.31.

PACS Group (NYSE:PACS) last posted its quarterly earnings data 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. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.36 billion. Research analysts forecast that PACS Group will post 2.19 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.