PACS Group, Inc. (NYSE:PACS) Receives Consensus Rating of “Moderate Buy” from Brokerages

PACS Group, Inc. (NYSE:PACS) has received a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $48.00.

Several brokerages have weighed in on PACS. Zacks Research downgraded PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Truist Financial raised 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. Weiss Ratings restated a “hold (c)” rating on shares of PACS Group in a research note on Wednesday, June 24th. Oppenheimer upped their price objective on shares of PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen raised shares of PACS Group from a “buy” rating to a “strong-buy” rating in a report on Monday, June 15th.

Insiders Place Their Bets

In other news, insider Mark Hancock sold 61,931 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $40.50, for a total value of $2,508,205.50. Following the completion of the sale, the insider directly owned 54,102,597 shares of the company’s stock, valued at approximately $2,191,155,178.50. This represents a 0.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Todd Mitchell sold 27,389 shares of the company’s 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 completion of the sale, the insider directly owned 803,566 shares of the company’s stock, valued at approximately $29,860,512.56. This represents a 3.30% decrease in their ownership of the stock. 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 three months, insiders have sold 595,152 shares of company stock worth $22,500,363. 70.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PACS Group

A number of institutional investors have recently added to or reduced their stakes in PACS. Hollencrest Capital Management bought a new position in PACS Group during the 4th quarter valued at $27,000. Quarry LP raised its stake in shares of PACS Group by 79.5% in the 3rd quarter. Quarry LP now owns 2,388 shares of the company’s stock worth $33,000 after buying an additional 1,058 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of PACS Group by 127.0% in 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. KBC Group NV acquired a new stake in shares of PACS Group in the first quarter valued at $42,000. Finally, Western Wealth Management LLC acquired a new stake in shares of PACS Group in the first quarter valued at $48,000.

PACS Group Stock Performance

PACS opened at $44.61 on Friday. The business’s 50 day moving average is $37.20 and its 200-day moving average is $36.63. The stock has a market cap of $7.06 billion, a PE ratio of 28.59, a price-to-earnings-growth ratio of 1.33 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 $45.20.

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, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.36 billion. On average, analysts predict that PACS Group will post 2.23 earnings per share for the current year.

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.