PACS Group (NYSE:PACS) Sets New 52-Week High – Here’s What Happened

PACS Group, Inc. (NYSE:PACS) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $35.10 and last traded at $33.4670, with a volume of 2767147 shares changing hands. The stock had previously closed at $33.41.

Analysts Set New Price Targets

A number of research firms have weighed in on PACS. Royal Bank Of Canada boosted their target price on shares of PACS Group from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Wall Street Zen cut shares of PACS Group from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of PACS Group in a report on Wednesday, November 26th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, PACS Group has a consensus rating of “Moderate Buy” and an average target price of $26.75.

PACS Group Stock Up 0.2%

The stock’s 50-day moving average price is $15.76 and its 200-day moving average price is $12.94. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.28. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 31.87 and a beta of -0.74.

PACS Group (NYSE:PACS) last announced its earnings results on Wednesday, November 19th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.14). The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.11 billion. PACS Group had a return on equity of 21.39% and a net margin of 3.29%. PACS Group has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that PACS Group, Inc. will post 1.01 earnings per share for the current year.

Insider Transactions at PACS Group

In other PACS Group news, Director Evelyn S. Dilsaver bought 16,724 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The shares were bought at an average price of $29.90 per share, for a total transaction of $500,047.60. Following the transaction, the director directly owned 22,739 shares in the company, valued at approximately $679,896.10. This trade represents a 278.04% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Todd Mitchell sold 159,556 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $29.89, for a total value of $4,769,128.84. Following the sale, the insider directly owned 755,836 shares of the company’s stock, valued at $22,591,938.04. This represents a 17.43% decrease in their position. The disclosure for this sale is available in the SEC filing.

Institutional Trading of PACS Group

Hedge funds have recently modified their holdings of the stock. Quarry LP boosted its stake in PACS Group by 79.5% during the third quarter. Quarry LP now owns 2,388 shares of the company’s stock worth $33,000 after acquiring an additional 1,058 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of PACS Group by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the company’s stock worth $262,000 after purchasing an additional 1,443 shares in the last quarter. Rhumbline Advisers boosted its position in shares of PACS Group by 3.6% during the 1st quarter. Rhumbline Advisers now owns 52,380 shares of the company’s stock worth $589,000 after purchasing an additional 1,840 shares in the last quarter. Peterson Wealth Services grew its stake in shares of PACS Group by 4.2% in the 2nd quarter. Peterson Wealth Services now owns 53,327 shares of the company’s stock valued at $689,000 after buying an additional 2,167 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey increased its position in PACS Group by 27.0% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 10,357 shares of the company’s stock valued at $134,000 after buying an additional 2,199 shares in the last quarter.

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.