PACS Group, Inc. (NYSE:PACS) Given Average Recommendation of “Buy” by Brokerages

PACS Group, Inc. (NYSE:PACS) has earned an average recommendation of “Buy” from the seven brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $56.00.

A number of equities analysts recently weighed in on PACS shares. Weiss Ratings cut shares of PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Truist Financial upped their price target on PACS Group from $52.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen downgraded PACS Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Zacks Research upgraded PACS Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Finally, Oppenheimer raised their price objective on shares of PACS Group from $48.00 to $57.00 and gave the company an “outperform” rating in a research note on Monday, August 10th.

PACS Group Trading Up 0.3%

NYSE PACS opened at $42.88 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $6.79 billion, a P/E ratio of 24.93, a PEG ratio of 1.21 and a beta of -0.08. The firm’s 50-day moving average is $44.32 and its two-hundred day moving average is $38.78. PACS Group has a 12 month low of $7.50 and a 12 month high of $49.49.

PACS Group (NYSE:PACS) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.09. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.41 billion. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. On average, sell-side analysts anticipate that PACS Group will post 2.36 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Mark Hancock sold 153,254 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $36.34, for a total transaction of $5,569,250.36. Following the completion of the transaction, the insider owned 54,449,343 shares in the company, valued at approximately $1,978,689,124.62. The trade was a 0.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jason Hulse Murray sold 91,306 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $43.92, for a total transaction of $4,010,159.52. Following the completion of the transaction, the chief executive officer owned 54,754,110 shares of the company’s stock, valued at approximately $2,404,800,511.20. The trade was a 0.17% 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. Insiders sold 1,143,038 shares of company stock valued at $47,458,833 in the last quarter. 70.10% of the stock is owned by insiders.

Institutional Investors Weigh In On PACS Group

A number of hedge funds and other institutional investors have recently modified their holdings of PACS. Financial Management Professionals Inc. grew its holdings in PACS Group by 54.9% during the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock valued at $28,000 after buying an additional 235 shares during the last quarter. Jacobsen Capital Management boosted its position in PACS Group by 1.6% during the first quarter. Jacobsen Capital Management now owns 18,128 shares of the company’s stock worth $582,000 after acquiring an additional 294 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of PACS Group by 127.0% during the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $42,000 after purchasing an additional 612 shares during the period. Hollencrest Capital Management purchased a new stake in shares of PACS Group in the fourth quarter valued at $27,000. Finally, Strategic Advocates LLC boosted its stake in PACS Group by 18.5% in the 4th quarter. Strategic Advocates LLC now owns 5,182 shares of the company’s stock worth $203,000 after buying an additional 808 shares during the last quarter.

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.