PACS Group, Inc. (NYSE:PACS) Receives Consensus Recommendation of “Buy” from Analysts

Shares of PACS Group, Inc. (NYSE:PACSGet Free Report) have earned a consensus rating of “Buy” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $56.00.

A number of research analysts have commented on the company. Oppenheimer boosted their target price on 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 lifted their price target on PACS Group from $52.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Wall Street Zen cut PACS Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Royal Bank Of Canada increased their price objective on PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Finally, UBS Group lifted their target price on shares of PACS Group from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, August 6th.

Get Our Latest Research Report on PACS

Insider Buying and Selling at PACS Group

In other PACS Group news, CEO Jason Hulse Murray sold 84,717 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $44.26, for a total transaction of $3,749,574.42. Following the transaction, the chief executive officer directly owned 54,845,416 shares of the company’s stock, valued at $2,427,458,112.16. This represents a 0.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michelle Renee Lewis sold 4,137 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $45.04, for a total value of $186,330.48. Following the transaction, the chief accounting officer owned 355,338 shares in the company, valued at approximately $16,004,423.52. This trade represents a 1.15% decrease in their ownership of the stock. 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 three months, insiders have sold 992,488 shares of company stock valued at $40,847,862. Company insiders own 70.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of PACS Group by 14.4% in the 4th quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock valued at $172,994,000 after acquiring an additional 566,502 shares in the last quarter. Alyeska Investment Group L.P. boosted its position in PACS Group by 159.5% during the fourth quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company’s stock worth $86,378,000 after purchasing an additional 1,382,984 shares during the period. Balyasny Asset Management L.P. boosted its position in PACS Group by 67.3% during the third quarter. Balyasny Asset Management L.P. now owns 1,356,240 shares of the company’s stock worth $18,621,000 after purchasing an additional 545,348 shares during the period. Ameriprise Financial Inc. grew its holdings in PACS Group by 19.6% during the third quarter. Ameriprise Financial Inc. now owns 1,350,551 shares of the company’s stock valued at $18,543,000 after purchasing an additional 220,939 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in PACS Group by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 1,020,636 shares of the company’s stock valued at $39,189,000 after purchasing an additional 24,081 shares during the last quarter.

PACS Group Trading Down 0.3%

PACS Group stock opened at $44.13 on Monday. PACS Group has a 12 month low of $7.50 and a 12 month high of $49.49. 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 $6.98 billion, a P/E ratio of 25.66, a P/E/G ratio of 1.25 and a beta of -0.08. The company’s fifty day simple moving average is $43.54 and its 200-day simple moving average is $38.54.

PACS Group (NYSE:PACSGet Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.09. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.41 billion. PACS Group had a return on equity of 29.55% and a net margin of 4.85%. As a group, sell-side analysts forecast that PACS Group will post 2.36 EPS for the current fiscal year.

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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Analyst Recommendations for PACS Group (NYSE:PACS)

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