PACS Group (NYSE:PACS) Price Target Raised to $58.00

by · The Markets Daily

PACS Group (NYSE:PACS – Free Report) had its price objective raised by JPMorgan Chase & Co. from $47.00 to $58.00 in a report issued on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms have also weighed in on PACS. Zacks Research raised shares of PACS Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Weiss Ratings downgraded shares of PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Oppenheimer increased their price objective on shares of PACS Group from $48.00 to $57.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Truist Financial set a $62.00 target price on shares of PACS Group in a research report on Wednesday. Finally, Royal Bank Of Canada boosted their target price on PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $58.80.

View Our Latest Stock Analysis on PACS

PACS Group Trading Up 0.1%

NYSE PACS opened at $42.54 on Friday. The firm has a market capitalization of $6.73 billion, a P/E ratio of 24.73, a PEG ratio of 1.20 and a beta of -0.13. The business has a fifty day simple moving average of $44.66 and a 200 day simple moving average of $38.93. PACS Group has a 12 month low of $7.50 and a 12 month high of $49.49. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21.

PACS Group (NYSE:PACS – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.09. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.41 billion. On average, analysts predict that PACS Group will post 2.36 EPS for the current fiscal year.

Insider Transactions at PACS Group

In related news, insider Mark Hancock sold 153,254 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $36.34, for a total transaction of $5,569,250.36. Following the completion of the sale, the insider owned 54,449,343 shares in the company, valued at approximately $1,978,689,124.62. This trade represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jason Murray sold 91,306 shares of PACS Group stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $43.92, for a total transaction of $4,010,159.52. Following the completion of the sale, the chief executive officer directly owned 54,754,110 shares in the company, valued at approximately $2,404,800,511.20. This represents a 0.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,211,151 shares of company stock worth $50,362,653 over the last three months. 70.10% of the stock is owned by insiders.

Institutional Investors Weigh In On PACS Group

Large investors have recently modified their holdings of the stock. Financial Management Professionals Inc. lifted its stake in PACS Group by 54.9% in the second quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock valued at $28,000 after purchasing an additional 235 shares during the last quarter. Hollencrest Capital Management bought a new position in PACS Group during the fourth quarter valued at $27,000. Larson Financial Group LLC increased its position in PACS Group by 127.0% in the fourth quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $42,000 after buying an additional 612 shares during the last quarter. KBC Group NV purchased a new stake in PACS Group in the first quarter worth $42,000. Finally, Western Wealth Management LLC bought a new stake in shares of PACS Group in the first quarter valued at $48,000.

Key Headlines Impacting PACS Group

Here are the key news stories impacting PACS Group this week:

  • Positive Sentiment: JPMorgan raised its price target to $58. JPMorgan Chase upgraded PACS to “overweight” from its prior stance and increased its target from $47, implying substantial upside from recent trading levels. The revision adds to a generally favorable analyst outlook for the skilled-nursing operator.
  • Positive Sentiment: Florida expansion broadens PACS’s operating footprint. The company plans to enter Florida through the acquisition of 32 nursing facilities, giving it a presence in a new state and potentially creating additional revenue and operating-scale opportunities. PACS Group Florida expansion and Eduro closings
  • Positive Sentiment: Eduro acquisition progress supports growth. PACS has closed on 31 of 34 Eduro buildings, advancing its acquisition-led expansion strategy. UBS characterized the Florida transaction as supportive of the company’s broader market expansion plans. PACS Group Eduro acquisition update
  • Neutral Sentiment: CEO selling appears planned rather than discretionary. CEO Jason Murray sold a combined 68,113 shares for approximately $2.9 million from September 1–3. The transactions were conducted under a pre-arranged Rule 10b5-1 plan and reduced his holdings by only about 0.12%, limiting their significance as a bearish signal. He still owns roughly 54.6 million shares. PACS Group CEO SEC Form 4 filing

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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