PACS Group, Inc. (NYSE:PACS) Receives Consensus Rating of “Moderate Buy” from Brokerages

PACS Group, Inc. (NYSE:PACS) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $58.80.

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada boosted their price target on shares of PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Zacks Research cut shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 9th. Oppenheimer lifted their target price on shares of PACS Group from $48.00 to $57.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Weiss Ratings cut shares of PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Finally, Truist Financial set a $62.00 price target on PACS Group in a research note on Wednesday, September 2nd.

PACS Group Price Performance

PACS Group stock opened at $41.52 on Friday. The business’s 50-day simple moving average is $44.40 and its 200 day simple moving average is $39.38. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. The stock has a market cap of $6.57 billion, a price-to-earnings ratio of 24.14, a P/E/G ratio of 1.30 and a beta of -0.13. PACS Group has a 12-month low of $10.31 and a 12-month high of $49.49.

PACS Group (NYSE:PACS) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.09. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.41 billion. PACS Group had a return on equity of 29.55% and a net margin of 4.85%. As a group, research analysts anticipate that PACS Group will post 2.13 earnings per share for the current year.

Insider Activity at PACS Group

In related news, CEO Jason Murray sold 10,529 shares of the company’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $45.23, for a total value of $476,226.67. Following the completion of the sale, the chief executive officer owned 54,555,566 shares in the company, valued at approximately $2,467,548,250.18. This represents a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Hancock sold 155,682 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $42.47, for a total value of $6,611,814.54. Following the completion of the transaction, the director directly owned 53,518,884 shares in the company, valued at $2,272,947,003.48. The trade was a 0.29% decrease in their position. 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. Over the last quarter, insiders sold 1,107,655 shares of company stock worth $48,779,328. 70.10% of the stock is owned by insiders.

Institutional Trading of PACS Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Financial Management Professionals Inc. boosted its stake in PACS Group by 54.9% during the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock worth $28,000 after acquiring an additional 235 shares during the last quarter. Larson Financial Group LLC increased its stake in PACS Group by 127.0% in the fourth 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 in the last quarter. KBC Group NV acquired a new stake in PACS Group in the first quarter worth $42,000. Western Wealth Management LLC acquired a new stake in PACS Group in the first quarter worth $48,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in PACS Group in the second quarter worth $75,000.

PACS Group Company Profile

PACS Group, Inc is a U.S. healthcare services company that operates skilled nursing and post-acute care facilities. Its facilities provide short-term rehabilitation, long-term skilled nursing, nursing care, and related clinical services for patients recovering from illness, injury, surgery, or hospitalization.

The company’s broader care offerings may include assisted living, memory care, behavioral health, and other specialized post-acute services, depending on the facility and market.