Analysts Set PACS Group, Inc. (NYSE:PACS) Price Target at $48.00

Shares of PACS Group, Inc. (NYSE:PACS) have received an average rating of “Moderate Buy” from the seven ratings firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $48.00.

A number of research analysts have issued reports on the stock. Zacks Research lowered shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Truist Financial lifted their price target on PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a report on Monday, May 18th. Wall Street Zen raised PACS Group from a “buy” rating to a “strong-buy” rating in a report on Monday, June 15th. Weiss Ratings restated a “hold (c)” rating on shares of PACS Group in a research report on Wednesday, June 24th. Finally, Oppenheimer lifted their target price on PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th.

Key Headlines Impacting PACS Group

Here are the key news stories impacting PACS Group this week:

• Positive Sentiment: PACS Group recently set a new 1-year high, reflecting continued momentum in the shares after a strong run. PACS Group Sets New 1-Year High – Still a Buy?
• Positive Sentiment: The company’s last earnings report beat expectations, with EPS and revenue coming in above consensus, which supports the bullish case for the stock. PACS Group stock overview
• Neutral Sentiment: Wall Street’s overall view remains favorable, with a consensus Moderate Buy rating and a price target around $48, though some analysts have recently been mixed on the name. PACS Group stock overview
• Negative Sentiment: Director Mark Hancock sold 142,163 shares in a pre-arranged Rule 10b5-1 plan, a large transaction that may raise concerns about insider confidence even though it was scheduled. PACS Group (NYSE:PACS) Director Sells 142,163 Shares
• Negative Sentiment: Chief Accounting Officer Michelle Renee Lewis also sold additional shares this week under a 10b5-1 plan, adding to the cluster of insider sales and potentially weighing on sentiment. PACS Group insider trading update

Insider Activity

In related news, Director Mark Hancock sold 142,163 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $45.33, for a total transaction of $6,444,248.79. Following the transaction, the director directly owned 53,945,816 shares in the company, valued at $2,445,363,839.28. The trade was a 0.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michelle Renee Lewis sold 4,137 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $45.04, for a total value of $186,330.48. Following the completion of the transaction, the chief accounting officer directly owned 355,338 shares of the company’s stock, valued at approximately $16,004,423.52. This trade represents a 1.15% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 771,220 shares of company stock valued at $30,470,994. 70.10% of the stock is owned by corporate insiders.

Institutional Trading of PACS Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Alyeska Investment Group L.P. raised its position in shares of PACS Group by 159.5% during the fourth quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company’s stock worth $86,378,000 after acquiring an additional 1,382,984 shares during the last quarter. Crewe Advisors LLC raised its position in PACS Group by 93.1% during the fourth quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company’s stock valued at $82,455,000 after purchasing an additional 1,035,747 shares in the last quarter. Marshall Wace LLP boosted its stake in PACS Group by 348.6% in 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 in the last quarter. Ameriprise Financial Inc. grew its stake in shares of PACS Group by 120.4% during the second quarter. Ameriprise Financial Inc. now owns 1,129,612 shares of the company’s stock valued at $14,595,000 after buying an additional 617,124 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of PACS Group by 370.2% in the first quarter. Dimensional Fund Advisors LP now owns 780,159 shares of the company’s stock worth $25,051,000 after buying an additional 614,250 shares during the period.

PACS Group Price Performance

NYSE:PACS opened at $43.47 on Friday. PACS Group has a 12-month low of $7.50 and a 12-month high of $45.89. The firm has a market cap of $6.88 billion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth ratio of 1.35 and a beta of -0.08. The company’s 50-day moving average is $37.55 and its two-hundred day moving average is $36.78. 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 (NYSE:PACS) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.08. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.36 billion. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. Research analysts expect that PACS Group will post 2.23 EPS for the current year.

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.