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

PACS Group, Inc. (NYSE:PACS)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $40.10 and last traded at $39.91, with a volume of 47815 shares traded. The stock had previously closed at $39.77.

Wall Street Analysts Forecast Growth

PACS has been the topic of several recent research reports. Wall Street Zen cut shares of PACS Group from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th. JPMorgan Chase & Co. started coverage on shares of PACS Group in a research note on Wednesday, December 17th. They issued an “overweight” rating and a $44.00 price target on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a $47.00 price target on shares of PACS Group in a research report on Friday, December 19th. Truist Financial set a $40.00 price target on PACS Group in a research report on Friday, December 12th. Finally, UBS Group reissued a “buy” rating and issued a $42.00 target price (down previously from $50.00) on shares of PACS Group in a report on Thursday, December 18th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $43.25.

PACS Group Price Performance

The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $6.25 billion, a price-to-earnings ratio of 38.09, a price-to-earnings-growth ratio of 1.33 and a beta of -0.68. The company has a 50 day simple moving average of $28.02 and a 200 day simple moving average of $17.65.

PACS Group (NYSE:PACS) last issued its quarterly earnings data on Wednesday, November 19th. The company reported $0.10 earnings per share (EPS) 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 firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.11 billion. As a group, research analysts predict that PACS Group, Inc. will post 1.01 EPS for the current year.

Insider Buying and Selling

In other news, Director Evelyn S. Dilsaver acquired 16,724 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were acquired at an average price of $29.90 per share, with a total value 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Todd Mitchell sold 159,556 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $29.89, for a total transaction of $4,769,128.84. Following the completion of the sale, the insider directly owned 755,836 shares of the company’s stock, valued at approximately $22,591,938.04. This 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 currently owned by corporate insiders.

Institutional Investors Weigh In On PACS Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of PACS Group by 2.2% in the third quarter. Vanguard Group Inc. now owns 3,939,725 shares of the company’s stock valued at $54,092,000 after acquiring an additional 85,183 shares during the last quarter. Royce & Associates LP lifted its stake in PACS Group by 76.6% in the 3rd quarter. Royce & Associates LP now owns 1,859,070 shares of the company’s stock valued at $25,525,000 after acquiring an additional 806,446 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in shares of PACS Group by 67.3% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,356,240 shares of the company’s stock worth $18,621,000 after buying an additional 545,348 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of PACS Group by 19.6% in the third quarter. Ameriprise Financial Inc. now owns 1,350,551 shares of the company’s stock valued at $18,543,000 after buying an additional 220,939 shares in the last quarter. Finally, Marshall Wace LLP increased its position in PACS Group by 348.6% during the third quarter. Marshall Wace LLP now owns 1,010,906 shares of the company’s stock worth $13,880,000 after buying an additional 785,537 shares during the last quarter.

About PACS Group

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.