PACS Group (NYSE:PACS) Upgraded by Wall Street Zen to “Buy” Rating

by · The Markets Daily

Wall Street Zen upgraded shares of PACS Group (NYSE:PACS – Free Report) from a hold rating to a buy rating in a research note published on Saturday morning.

Several other analysts have also recently issued reports on PACS. UBS Group reiterated a “buy” rating and issued a $42.00 target price (down from $50.00) on shares of PACS Group in a research note on Thursday, December 18th. Truist Financial set a $40.00 target price on PACS Group in a research note on Friday, December 12th. Zacks Research downgraded PACS Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 2nd. JPMorgan Chase & Co. began coverage on shares of PACS Group in a report on Wednesday, December 17th. They issued an “overweight” rating and a $44.00 target price on the stock. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $47.00 price target on shares of PACS Group in a report on Friday, December 19th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $43.25.

Check Out Our Latest Stock Analysis on PACS Group

PACS Group Trading Down 1.8%

PACS opened at $38.67 on Friday. PACS Group has a fifty-two week low of $7.50 and a fifty-two week high of $43.08. The firm has a market capitalization of $6.06 billion, a PE ratio of 36.83, a P/E/G ratio of 1.26 and a beta of -0.68. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.94 and a quick ratio of 0.94. The company’s 50-day moving average is $31.97 and its 200 day moving average is $19.01.

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

Insider Activity at PACS Group

In other news, Director Evelyn S. Dilsaver acquired 16,724 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was bought at an average cost of $29.90 per share, for a total transaction of $500,047.60. Following the acquisition, the director directly owned 22,739 shares in the company, valued at approximately $679,896.10. The trade was a 278.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John Todd Mitchell sold 159,556 shares of the 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 sale, the insider directly owned 755,836 shares in the company, valued at $22,591,938.04. This trade represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 70.40% of the stock is owned by company insiders.

Institutional Trading of PACS Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC purchased a new position in PACS Group in the first quarter worth about $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position 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 worth $262,000 after acquiring an additional 1,443 shares in the last quarter. Millennium Management LLC grew its position in shares of PACS Group by 68.3% in the 1st quarter. Millennium Management LLC now owns 859,295 shares of the company’s stock worth $9,658,000 after buying an additional 348,743 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of PACS Group during the first quarter valued at about $64,000. Finally, Caxton Associates LLP purchased a new stake in PACS Group during the 1st quarter worth approximately $163,000.

PACS Group Company Profile

(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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