PACS Group (NYSE:PACS) Reaches New 52-Week High – Time to Buy?

PACS Group, Inc. (NYSE:PACS)’s share price reached a new 52-week high on Thursday . The stock traded as high as $49.49 and last traded at $48.4360, with a volume of 98624 shares changing hands. The stock had previously closed at $45.64.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PACS shares. UBS Group restated a “buy” rating on shares of PACS Group in a report on Thursday. Zacks Research lowered shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Truist Financial increased their target price on PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Oppenheimer lifted their price target on PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings upgraded PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 8th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $50.60.

PACS Group Stock Performance

The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.27. The stock’s fifty day moving average is $41.32 and its two-hundred day moving average is $37.71. The firm has a market capitalization of $7.63 billion, a price-to-earnings ratio of 28.01, a P/E/G ratio of 1.34 and a beta of -0.08.

PACS Group (NYSE:PACS) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.09. The firm 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 30.77%. On average, analysts predict that PACS Group, Inc. will post 2.23 earnings per share for the current year.

Insiders Place Their Bets

In other PACS Group news, CAO Michelle Renee Lewis sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $40.01, for a total value of $600,150.00. Following the sale, the chief accounting officer owned 370,338 shares in the company, valued at $14,817,223.38. This represents a 3.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Todd Mitchell sold 52,763 shares of PACS Group stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $38.02, for a total value of $2,006,049.26. Following the transaction, the insider owned 830,955 shares of the company’s stock, valued at $31,592,909.10. This represents a 5.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 796,524 shares of company stock valued at $31,611,396 over the last 90 days. 70.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PACS Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Hollencrest Capital Management acquired a new stake in shares of PACS Group during the 4th quarter worth about $27,000. Financial Management Professionals Inc. grew its stake in PACS Group by 54.9% in 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. Quarry LP grew its stake in PACS Group by 79.5% in the 3rd quarter. Quarry LP now owns 2,388 shares of the company’s stock valued at $33,000 after buying an additional 1,058 shares during the last quarter. Larson Financial Group LLC raised its holdings in PACS Group by 127.0% in the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $42,000 after acquiring an additional 612 shares during the period. Finally, KBC Group NV bought a new position in PACS Group in the 1st quarter valued at about $42,000.

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.