PACS Group, Inc. (NYSE:PACS) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of PACS Group, Inc. (NYSE:PACS) have earned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $50.60.

Several brokerages have issued reports on PACS. Oppenheimer boosted their target price on PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. UBS Group raised their price target on PACS Group from $50.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Wall Street Zen upgraded PACS Group from a “buy” rating to a “strong-buy” rating in a report on Monday, June 15th. Weiss Ratings upgraded PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 8th. Finally, Zacks Research downgraded PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th.

PACS Group Trading Down 1.0%

Shares of PACS opened at $46.48 on Thursday. The company’s fifty day simple moving average is $40.59 and its 200-day simple moving average is $37.54. The company has a market cap of $7.36 billion, a P/E ratio of 29.80, a P/E/G ratio of 1.40 and a beta of -0.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27. PACS Group has a twelve month low of $7.50 and a twelve month high of $48.00.

PACS Group (NYSE:PACS) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.50 EPS for the quarter, beating 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 company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.36 billion. As a group, analysts expect that PACS Group will post 2.23 EPS for the current year.

Insider Buying and Selling

In other PACS Group news, CAO Michelle Renee Lewis sold 15,000 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $40.01, for a total value of $600,150.00. Following the transaction, the chief accounting officer directly owned 370,338 shares in the company, valued at $14,817,223.38. This represents a 3.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Hancock sold 153,254 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $36.34, for a total transaction of $5,569,250.36. Following the transaction, the insider directly owned 54,449,343 shares in the company, valued at approximately $1,978,689,124.62. This trade represents a 0.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 796,524 shares of company stock valued at $31,611,396 in the last 90 days. Company insiders own 70.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Financial Management Professionals Inc. increased its holdings in PACS Group by 54.9% during the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock worth $28,000 after purchasing an additional 235 shares during the period. Jacobsen Capital Management lifted its holdings in shares of PACS Group by 1.6% in the 1st quarter. Jacobsen Capital Management now owns 18,128 shares of the company’s stock worth $582,000 after buying an additional 294 shares during the period. Larson Financial Group LLC grew its position in shares of PACS Group by 127.0% during the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $42,000 after buying an additional 612 shares in the last quarter. Hollencrest Capital Management bought a new position in shares of PACS Group during the 4th quarter worth $27,000. Finally, Strategic Advocates LLC grew its position in shares of PACS Group by 18.5% during the 4th quarter. Strategic Advocates LLC now owns 5,182 shares of the company’s stock worth $203,000 after buying an additional 808 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.