PACS Group (NYSE:PACS) Reaches New 12-Month High After Analyst Upgrade

PACS Group, Inc. (NYSE:PACS) shares hit a new 52-week high during trading on Thursday after Royal Bank Of Canada raised their price target on the stock from $52.00 to $57.00. Royal Bank Of Canada currently has an outperform rating on the stock. PACS Group traded as high as $49.49 and last traded at $48.4360, with a volume of 98624 shares changing hands. The stock had previously closed at $45.64.

A number of other research analysts have also issued reports on PACS. Zacks Research lowered PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Weiss Ratings raised shares of PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 8th. UBS Group upped their price objective on shares of PACS Group from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday. Oppenheimer increased their price objective on shares of PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Finally, Truist Financial lifted their target price on shares of PACS Group from $52.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, PACS Group presently has an average rating of “Moderate Buy” and an average price target of $54.20.

Insider Buying and Selling at PACS Group

In other news, insider Mark Hancock sold 153,254 shares of PACS Group stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $36.34, for a total value of $5,569,250.36. Following the sale, the insider directly owned 54,449,343 shares of the company’s stock, valued at $1,978,689,124.62. The trade was a 0.28% 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 15,000 shares of the stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $40.01, for a total value of $600,150.00. Following the completion of the transaction, the chief accounting officer directly owned 370,338 shares of the company’s stock, valued at approximately $14,817,223.38. This represents a 3.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 796,524 shares of company stock valued at $31,611,396 over the last quarter. 70.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PACS Group

A number of large investors have recently modified their holdings of the business. Financial Management Professionals Inc. boosted its position in PACS Group by 54.9% during the second quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock worth $28,000 after acquiring an additional 235 shares during the last quarter. Hollencrest Capital Management purchased a new position in PACS Group in the 4th quarter worth approximately $27,000. Larson Financial Group LLC boosted its stake in PACS Group by 127.0% during the fourth quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $42,000 after buying an additional 612 shares during the last quarter. KBC Group NV purchased a new stake in shares of PACS Group in the first quarter valued at about $42,000. Finally, Western Wealth Management LLC acquired a new stake in shares of PACS Group during the 1st quarter worth approximately $48,000.

PACS Group Price Performance

The stock has a 50-day simple moving average of $41.73 and a 200 day simple moving average of $37.84. The company has a quick ratio of 0.99, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. The company has a market cap of $7.66 billion, a PE ratio of 28.13, a P/E/G ratio of 1.40 and a beta of -0.08.

PACS Group (NYSE:PACS) last announced its earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.09. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.41 billion. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. Equities analysts expect that PACS Group, Inc. 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.