PACS Group (NYSE:PACS) Earns Overweight Rating from Analysts at JPMorgan Chase & Co.

by · The Cerbat Gem

JPMorgan Chase & Co. assumed coverage on shares of PACS Group (NYSE:PACS – Free Report) in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. The firm issued an overweight rating and a $44.00 target price on the stock.

A number of other analysts have also recently commented on the stock. Zacks Research cut shares of PACS Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 2nd. Royal Bank Of Canada lifted their price objective on shares of PACS Group from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. Wall Street Zen cut shares of PACS Group from a “buy” rating to a “hold” rating in a report on Sunday, November 30th. Truist Financial set a $40.00 price target on PACS Group in a report on Friday, December 12th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of PACS Group in a research report on Monday. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $39.40.

Check Out Our Latest Stock Analysis on PACS Group

PACS Group Stock Up 2.5%

PACS stock opened at $36.30 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of 34.57, a PEG ratio of 1.54 and a beta of -0.63. PACS Group has a fifty-two week low of $7.50 and a fifty-two week high of $36.97. The stock has a fifty day moving average of $21.23 and a 200-day moving average of $15.13.

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

Insider Activity at PACS Group

In other PACS Group news, insider John Todd Mitchell sold 159,556 shares of the firm’s stock in a transaction on 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 transaction, the insider directly owned 755,836 shares of the company’s stock, valued at $22,591,938.04. This trade represents a 17.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Evelyn S. Dilsaver purchased 16,724 shares of PACS Group stock in a transaction dated Monday, November 24th. The shares were purchased at an average price of $29.90 per share, with a total value of $500,047.60. Following the completion of the transaction, the director directly 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. Corporate insiders own 70.40% of the company’s stock.

Institutional Trading of PACS Group

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP increased its position in shares of PACS Group by 79.5% in the third quarter. Quarry LP now owns 2,388 shares of the company’s stock worth $33,000 after purchasing an additional 1,058 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in 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 worth $262,000 after buying an additional 1,443 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of PACS Group by 3.6% in the 1st quarter. Rhumbline Advisers now owns 52,380 shares of the company’s stock worth $589,000 after buying an additional 1,840 shares during the last quarter. Peterson Wealth Services raised its position in shares of PACS Group by 4.2% during the 2nd quarter. Peterson Wealth Services now owns 53,327 shares of the company’s stock valued at $689,000 after buying an additional 2,167 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its position in shares of PACS Group by 27.0% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 10,357 shares of the company’s stock valued at $134,000 after buying an additional 2,199 shares in the last quarter.

About PACS Group

(Get Free Report)

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.

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