Analysts Set PACS Group, Inc. (NYSE:PACS) Price Target at $58.80

Shares of PACS Group, Inc. (NYSE:PACS) have been assigned an average rating of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $58.80.

A number of research firms recently commented on PACS. Oppenheimer lifted their price target on PACS Group from $48.00 to $57.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Wall Street Zen cut PACS Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Royal Bank Of Canada increased their target price on PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Zacks Research lowered PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 9th. Finally, Truist Financial set a $62.00 price target on PACS Group in a report on Wednesday, September 2nd.

Insider Buying and Selling at PACS Group

In other PACS Group news, Director Mark Hancock sold 155,682 shares of the stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $42.47, for a total transaction of $6,611,814.54. Following the sale, the director directly owned 53,518,884 shares of the company’s stock, valued at approximately $2,272,947,003.48. This represents a 0.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Joshua Jergensen sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $43.13, for a total transaction of $1,725,200.00. Following the completion of the transaction, the chief operating officer owned 2,496,320 shares in the company, valued at approximately $107,666,281.60. The trade was a 1.58% 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 a total of 1,322,655 shares of company stock worth $57,456,006 over the last 90 days. Insiders own 70.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in PACS Group by 370.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 780,159 shares of the company’s stock valued at $25,051,000 after purchasing an additional 614,250 shares during the last quarter. 8 Knots Management LLC bought a new position in PACS Group in the 4th quarter worth approximately $23,421,000. Sei Investments Co. grew its holdings in PACS Group by 7.4% in the 1st quarter. Sei Investments Co. now owns 370,501 shares of the company’s stock worth $11,900,000 after buying an additional 25,462 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in PACS Group by 44.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 288,718 shares of the company’s stock valued at $9,274,000 after acquiring an additional 89,067 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in PACS Group in the 2nd quarter valued at approximately $8,196,000.

PACS Group Price Performance

PACS stock opened at $41.65 on Friday. The stock’s 50 day moving average is $44.56 and its two-hundred day moving average is $39.29. PACS Group has a 52-week low of $10.31 and a 52-week high of $49.49. The company has a market capitalization of $6.59 billion, a PE ratio of 24.21, a P/E/G ratio of 1.31 and a beta of -0.13. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.21.

PACS Group (NYSE:PACS) last announced its quarterly earnings data 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%. Analysts predict that PACS Group will post 2.13 earnings per share for the current fiscal year.

About PACS Group

PACS Group, Inc is a U.S. healthcare services company that operates skilled nursing and post-acute care facilities. Its facilities provide short-term rehabilitation, long-term skilled nursing, nursing care, and related clinical services for patients recovering from illness, injury, surgery, or hospitalization.

The company’s broader care offerings may include assisted living, memory care, behavioral health, and other specialized post-acute services, depending on the facility and market.