PACS Group, Inc. (NYSE:PACS) Receives $48.00 Consensus Target Price from Analysts

PACS Group, Inc. (NYSE:PACS) has earned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $48.00.

Several research analysts recently weighed in on PACS shares. Truist Financial lifted their price target on PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Royal Bank Of Canada raised their target price on PACS Group from $47.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. Zacks Research downgraded PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Wall Street Zen upgraded PACS Group from a “buy” rating to a “strong-buy” rating in a research report on Monday. Finally, UBS Group increased their price objective on shares of PACS Group from $42.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, March 4th.

PACS Group Stock Down 0.0%

Shares of NYSE PACS opened at $35.88 on Wednesday. The stock has a market capitalization of $5.68 billion and a price-to-earnings ratio of 23.16. PACS Group has a 12-month low of $7.50 and a 12-month high of $43.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27. The firm’s 50-day moving average price is $35.74 and its 200-day moving average price is $35.93.

PACS Group (NYSE:PACS) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. PACS Group had a return on equity of 26.47% and a net margin of 4.49%.The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.36 billion. On average, equities research analysts anticipate that PACS Group will post 2.19 EPS for the current fiscal year.

Insider Activity at PACS Group

In related news, insider John Todd Mitchell sold 27,389 shares of PACS Group stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $37.16, for a total transaction of $1,017,775.24. Following the transaction, the insider owned 803,566 shares in the company, valued at approximately $29,860,512.56. This trade represents a 3.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 70.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC acquired a new stake in PACS Group during the first quarter worth about $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in PACS Group by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the company’s stock valued at $262,000 after buying an additional 1,443 shares during the period. Millennium Management LLC boosted its stake in PACS Group by 68.3% during the first quarter. Millennium Management LLC now owns 859,295 shares of the company’s stock worth $9,658,000 after buying an additional 348,743 shares during the period. Jones Financial Companies Lllp acquired a new stake in shares of PACS Group during the first quarter valued at about $64,000. Finally, Caxton Associates LLP acquired a new stake in shares of PACS Group during the first quarter valued at about $163,000.

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.