PACS Group (NYSE:PACS) Now Covered by Analysts at JPMorgan Chase & Co.

Equities researchers at JPMorgan Chase & Co. initiated coverage on shares of PACS Group (NYSE:PACS) in a report released on Wednesday, MarketBeat Ratings reports. The brokerage set an “overweight” rating and a $44.00 price target on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 26.35% from the stock’s current price.

A number of other analysts have also recently issued reports on the company. Weiss Ratings restated a “hold (c-)” rating on shares of PACS Group in a research report on Monday. Zacks Research lowered shares of PACS Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 2nd. Wall Street Zen downgraded shares of PACS Group from a “buy” rating to a “hold” rating in a report on Sunday, November 30th. Truist Financial set a $40.00 target price on shares of PACS Group in a research report on Friday. Finally, Royal Bank Of Canada increased their price target on shares of PACS Group from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.25.

PACS Group Stock Performance

PACS traded up $0.63 on Wednesday, hitting $34.83. The company had a trading volume of 111,851 shares, compared to its average volume of 863,805. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of 33.14, a price-to-earnings-growth ratio of 1.51 and a beta of -0.63. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.94 and a quick ratio of 0.94. The company’s fifty day moving average price is $19.88 and its 200 day moving average price is $14.66. PACS Group has a 1-year low of $7.50 and a 1-year high of $35.59.

PACS Group (NYSE:PACS) last released its quarterly earnings results on Wednesday, November 19th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.36). PACS Group had a net margin of 3.29% and a return on equity of 21.39%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.11 billion. Equities analysts predict that PACS Group will post 1.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider John Todd Mitchell sold 159,556 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $29.89, for a total value of $4,769,128.84. Following the transaction, the insider owned 755,836 shares in the company, valued at approximately $22,591,938.04. This represents a 17.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Evelyn S. Dilsaver bought 16,724 shares of the stock in a transaction dated Monday, November 24th. The shares were acquired at an average cost of $29.90 per share, for a total transaction of $500,047.60. Following the completion of the acquisition, the director directly owned 22,739 shares of the company’s stock, valued at approximately $679,896.10. This trade represents a 278.04% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 70.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PACS Group

A number of institutional investors have recently added to or reduced their stakes in PACS. Dynamic Technology Lab Private Ltd bought a new position in shares of PACS Group during the first quarter valued at $469,000. Geode Capital Management LLC boosted its position in shares of PACS Group by 11.5% during the 2nd quarter. Geode Capital Management LLC now owns 952,358 shares of the company’s stock worth $12,306,000 after purchasing an additional 98,277 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of PACS Group during the second quarter worth approximately $1,654,000. Nuveen LLC bought a new stake in shares of PACS Group during the first quarter worth about $1,918,000. Finally, Bleakley Financial Group LLC purchased a new position in shares of PACS Group during the second quarter valued at approximately $297,000.

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.