PACS Group (NYSE:PACS) Reaches New 12-Month High – What’s Next?

PACS Group, Inc. (NYSE:PACS) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $42.63 and last traded at $41.99, with a volume of 65301 shares. The stock had previously closed at $41.51.

Analysts Set New Price Targets

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

PACS Group Trading Up 2.6%

The firm has a market cap of $6.67 billion, a price-to-earnings ratio of 40.58, a P/E/G ratio of 1.34 and a beta of -0.68. 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 company’s 50 day simple moving average is $29.78 and its 200 day simple moving average is $18.29.

PACS Group (NYSE:PACS) last announced its quarterly earnings data on Wednesday, November 19th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.36). The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.11 billion. PACS Group had a net margin of 3.29% and a return on equity of 21.39%. As a group, research analysts expect that PACS Group, Inc. will post 1.01 earnings per share for the current fiscal year.

Insider Buying and Selling at PACS Group

In other news, Director Evelyn S. Dilsaver acquired 16,724 shares of the company’s stock in a transaction on Monday, November 24th. The shares were bought 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 in the company, valued at $679,896.10. This trade represents a 278.04% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Todd Mitchell sold 159,556 shares of PACS Group stock in a transaction that occurred on Monday, November 24th. The stock was 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 trade represents a 17.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 70.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC boosted its position in PACS Group by 36.7% during the fourth quarter. SG Americas Securities LLC now owns 14,278 shares of the company’s stock worth $548,000 after purchasing an additional 3,837 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of PACS Group in the 4th quarter worth about $328,000. Strategic Advocates LLC acquired a new stake in PACS Group in the 3rd quarter valued at about $60,000. PharVision Advisers LLC purchased a new position in PACS Group during the 3rd quarter valued at about $200,000. Finally, Zimmer Partners LP increased its holdings in PACS Group by 27.4% during the 3rd quarter. Zimmer Partners LP now owns 302,500 shares of the company’s stock valued at $4,153,000 after acquiring an additional 65,000 shares in 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.