PACS Group (NYSE:PACS) Rating Lowered to “Buy” at Wall Street Zen

PACS Group (NYSE:PACS) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

Other analysts have also recently issued reports about the company. Zacks Research cut PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. UBS Group increased their target price on shares of PACS Group from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday. Truist Financial boosted their price target on shares of PACS Group from $52.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday. Weiss Ratings downgraded shares of PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday. Finally, Royal Bank Of Canada raised their target price on shares of PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, PACS Group has a consensus rating of “Moderate Buy” and an average price target of $54.20.

PACS Group Trading Down 0.1%

Shares of PACS Group stock opened at $48.38 on Friday. The firm has a market capitalization of $7.66 billion, a PE ratio of 28.13, a P/E/G ratio of 1.45 and a beta of -0.08. PACS Group has a twelve month low of $7.50 and a twelve month high of $49.49. The firm’s 50-day moving average price is $41.73 and its 200 day moving average price is $37.83. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21.

PACS Group (NYSE:PACS) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.54 by $0.09. PACS Group had a return on equity of 29.55% and a net margin of 4.85%.The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.41 billion. On average, sell-side analysts predict that PACS Group will post 2.23 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Michelle Renee Lewis sold 4,137 shares of PACS Group stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $45.04, for a total transaction of $186,330.48. Following the sale, the chief accounting officer owned 355,338 shares of the company’s stock, valued at approximately $16,004,423.52. The trade was a 1.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Hancock sold 4,966 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $45.06, for a total value of $223,767.96. Following the completion of the transaction, the director owned 53,920,512 shares in the company, valued at $2,429,658,270.72. This represents a 0.01% 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 have sold a total of 796,524 shares of company stock valued at $31,611,396 in the last 90 days. Insiders own 70.10% of the company’s stock.

Institutional Investors Weigh In On PACS Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. grew its holdings in shares of PACS Group by 159.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company’s stock worth $86,378,000 after purchasing an additional 1,382,984 shares during the period. Marshall Wace LLP raised its holdings in PACS Group by 348.6% in the 3rd quarter. Marshall Wace LLP now owns 1,010,906 shares of the company’s stock valued at $13,880,000 after buying an additional 785,537 shares during the period. Ameriprise Financial Inc. raised its holdings in PACS Group by 120.4% in the 2nd 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 period. Dimensional Fund Advisors LP lifted its position in PACS Group by 370.2% in the first quarter. Dimensional Fund Advisors LP now owns 780,159 shares of the company’s stock valued at $25,051,000 after buying an additional 614,250 shares during the last quarter. Finally, 8 Knots Management LLC acquired a new position in PACS Group in the fourth quarter valued at about $23,421,000.

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.