Zacks Research cut shares of PACS Group (NYSE:PACS – Free Report) from a strong-buy rating to a hold rating in a research report released on Wednesday,Zacks reports.
Other equities analysts also recently issued reports about the stock. Truist Financial set a $62.00 price objective on shares of PACS Group in a research note on Wednesday, September 2nd. Wall Street Zen downgraded shares of PACS Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Royal Bank Of Canada upped their target price on PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Oppenheimer increased their target price on PACS Group from $48.00 to $57.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Finally, UBS Group increased their target price on PACS Group from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.80.
Check Out Our Latest Analysis on PACS Group
PACS Group Stock Up 0.4%
PACS Group (NYSE:PACS – Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, beating 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 business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.41 billion. As a group, research analysts anticipate that PACS Group will post 2.13 EPS for the current fiscal year.
Insider Activity at PACS Group
In other news, CEO Jason Murray sold 4,758 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $43.33, for a total value of $206,164.14. Following the sale, the chief executive officer directly owned 54,574,866 shares in the company, valued at approximately $2,364,728,943.78. This trade represents a 0.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,263,038 shares of company stock worth $52,600,000 over the last ninety days. Corporate insiders own 70.10% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of PACS. Financial Management Professionals Inc. boosted 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 acquiring an additional 235 shares in the last quarter. Hollencrest Capital Management acquired a new position in shares of PACS Group during the fourth quarter worth $27,000. Larson Financial Group LLC increased its position in shares of PACS Group by 127.0% during the fourth quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $42,000 after purchasing an additional 612 shares in the last quarter. KBC Group NV acquired a new position in shares of PACS Group during the first quarter worth $42,000. Finally, Western Wealth Management LLC purchased a new stake in shares of PACS Group during the 1st quarter valued at $48,000.
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.
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