PACS Group (NYSE:PACS) Sets New 12-Month High – Still a Buy?

PACS Group, Inc. (NYSE:PACS) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $38.25 and last traded at $37.6570, with a volume of 974838 shares changing hands. The stock had previously closed at $37.31.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PACS. Weiss Ratings reiterated a “hold (c-)” rating on shares of PACS Group in a research note on Monday, December 22nd. Royal Bank Of Canada reiterated an “outperform” rating and set a $47.00 target price on shares of PACS Group in a research report on Friday, December 19th. UBS Group reissued a “buy” rating and set a $42.00 target price (down from $50.00) on shares of PACS Group in a research note on Thursday, December 18th. Wall Street Zen downgraded PACS Group from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th. Finally, Zacks Research cut PACS Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 2nd. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $39.40.

PACS Group Trading Up 1.2%

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 business has a 50-day moving average price of $23.70 and a two-hundred day moving average price of $16.14. The firm has a market cap of $6.04 billion, a PE ratio of 36.73, a PEG ratio of 1.75 and a beta of -0.74.

PACS Group (NYSE:PACS) last posted its earnings results on Wednesday, November 19th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.36). PACS Group had a net margin of 3.29% and a return on equity of 21.39%. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Analysts forecast that PACS Group, Inc. will post 1.01 EPS for the current year.

Insiders Place Their Bets

In other PACS Group news, insider John Todd Mitchell sold 159,556 shares of the company’s stock in a transaction dated 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 transaction, the insider directly owned 755,836 shares in the company, valued at approximately $22,591,938.04. This represents a 17.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Evelyn S. Dilsaver purchased 16,724 shares of the stock in a transaction dated Monday, November 24th. The shares were purchased at an average price of $29.90 per share, with a total value of $500,047.60. Following the completion of the acquisition, the director owned 22,739 shares of the company’s stock, valued at approximately $679,896.10. This represents a 278.04% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 70.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PACS Group

Several hedge funds have recently modified their holdings of the stock. Quarry LP increased its stake in PACS Group by 79.5% during the third quarter. Quarry LP now owns 2,388 shares of the company’s stock worth $33,000 after acquiring an additional 1,058 shares during the last quarter. Strategic Advocates LLC purchased a new stake in shares of PACS Group during the 3rd quarter worth about $60,000. State of Alaska Department of Revenue purchased a new stake in shares of PACS Group during the 3rd quarter worth about $69,000. Jones Financial Companies Lllp acquired a new stake in PACS Group during the 1st quarter worth approximately $64,000. Finally, Tower Research Capital LLC TRC raised its holdings in PACS Group by 289.0% in the second quarter. Tower Research Capital LLC TRC now owns 6,166 shares of the company’s stock valued at $80,000 after buying an additional 4,581 shares during the period.

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.