PACS Group (NYSE:PACS) Hits New 1-Year High – Still a Buy?

PACS Group, Inc. (NYSE:PACS) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $46.20 and last traded at $45.7110, with a volume of 135647 shares changing hands. The stock had previously closed at $45.00.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of PACS Group from a “buy” rating to a “strong-buy” rating in a report on Monday, June 15th. UBS Group raised their target price on PACS Group from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Weiss Ratings upgraded PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 8th. Zacks Research lowered PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Finally, Truist Financial lifted their price objective on PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.60.

PACS Group Stock Up 1.6%

The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market capitalization of $7.23 billion, a P/E ratio of 29.29, a P/E/G ratio of 1.34 and a beta of -0.08. The stock has a fifty day moving average price of $38.79 and a two-hundred day moving average price of $37.09.

PACS Group (NYSE:PACS) last announced 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 firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Research analysts forecast that PACS Group, Inc. will post 2.23 EPS for the current year.

Insider Buying and Selling at PACS Group

In other PACS Group news, Director Mark Hancock sold 4,966 shares of the firm’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $45.06, for a total value of $223,767.96. Following the sale, the director directly owned 53,920,512 shares in the company, valued at approximately $2,429,658,270.72. This trade represents a 0.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michelle Renee Lewis sold 4,137 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer directly owned 355,338 shares of the company’s stock, valued at approximately $16,004,423.52. This trade represents a 1.15% decrease in their position. 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 796,524 shares of company stock worth $31,611,396 over the last ninety days. 70.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PACS Group

Several large investors have recently made changes to their positions in PACS. Alyeska Investment Group L.P. boosted its position in shares of PACS Group by 159.5% during the fourth quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company’s stock worth $86,378,000 after buying an additional 1,382,984 shares during the period. Crewe Advisors LLC increased its position in PACS Group by 93.1% in the 4th quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company’s stock valued at $82,455,000 after acquiring an additional 1,035,747 shares during the period. Marshall Wace LLP raised its stake in PACS Group by 348.6% during the 3rd quarter. Marshall Wace LLP now owns 1,010,906 shares of the company’s stock valued at $13,880,000 after acquiring an additional 785,537 shares in the last quarter. Ameriprise Financial Inc. raised its stake in PACS Group by 120.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,129,612 shares of the company’s stock valued at $14,595,000 after acquiring an additional 617,124 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in PACS Group by 370.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 780,159 shares of the company’s stock worth $25,051,000 after acquiring an additional 614,250 shares during the period.

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.