Shares of PACS Group, Inc. (NYSE:PACS – Get Free Report) have been given an average recommendation of “Moderate Buy” by the seven research firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $50.60.
Several research analysts have commented on PACS shares. Weiss Ratings raised shares of PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 8th. Zacks Research downgraded PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Truist Financial increased their price target on PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Wall Street Zen upgraded PACS Group from a “buy” rating to a “strong-buy” rating in a report on Monday, June 15th. Finally, Oppenheimer lifted their price objective on PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th.
Get Our Latest Research Report on PACS
PACS Group Trading Down 1.0%
PACS Group (NYSE:PACS – Get Free Report) last released its earnings results on Monday, May 11th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.42 by $0.08. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.36 billion. Research analysts anticipate that PACS Group will post 2.23 EPS for the current fiscal year.
Insider Activity at PACS Group
In related news, insider Mark Hancock sold 153,254 shares of the company’s stock in a transaction on 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 sale, the insider owned 54,449,343 shares of the company’s stock, valued at $1,978,689,124.62. This represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michelle Renee Lewis sold 15,000 shares of the stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $40.01, for a total transaction of $600,150.00. Following the transaction, the chief accounting officer owned 370,338 shares of the company’s stock, valued at $14,817,223.38. This trade represents a 3.89% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 796,524 shares of company stock valued at $31,611,396. 70.10% of the stock is owned by corporate insiders.
Institutional Trading of PACS Group
Several hedge funds have recently made changes to their positions in PACS. Handelsbanken Fonder AB bought a new position in shares of PACS Group in the 2nd quarter valued at about $567,000. Financial Management Professionals Inc. raised its position in PACS Group by 54.9% during 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 period. Empowered Funds LLC bought a new stake in shares of PACS Group in the 1st quarter valued at approximately $278,000. Western Wealth Management LLC bought a new stake in shares of PACS Group in the 1st quarter valued at approximately $48,000. Finally, Smith Group Asset Management LLC purchased a new position in shares of PACS Group in the 1st quarter worth approximately $771,000.
PACS Group Company Profile
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.
See Also
- Five stocks we like better than PACS Group
- Why SK hynix Could Be the Best AI Chip Stock to Buy Now
- Seagate Technology Stock Surges as Earnings Beat Silences AI Doubters
- Alphabet Is Down 18% From Its High After a Stellar Quarter—Overdone, or More Downside Ahead?
- Why Bloom Energy May Be the Most Important AI Infrastructure Stock
Receive News & Ratings for PACS Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PACS Group and related companies with MarketBeat.com's FREE daily email newsletter.
