PACS Group (NYSE:PACS) Stock Rating Lowered by Zacks Research

PACS Group (NYSE:PACS) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Several other research analysts have also recently commented on the company. UBS Group increased their price target on PACS Group from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Wall Street Zen raised PACS Group from a “hold” rating to a “buy” rating in a research report on Sunday, May 10th. Royal Bank Of Canada increased their price target on PACS Group from $47.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. Weiss Ratings reissued a “hold (c)” rating on shares of PACS Group in a research report on Friday, March 27th. Finally, Oppenheimer increased their price target on PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, PACS Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.60.

PACS Group Stock Down 5.3%

NYSE:PACS opened at $37.54 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.07 and a current ratio of 0.99. The company has a market cap of $5.94 billion, a PE ratio of 24.06, a PEG ratio of 1.21 and a beta of -0.03. PACS Group has a 52-week low of $7.50 and a 52-week high of $43.08. The stock has a 50-day simple moving average of $34.30 and a 200 day simple moving average of $32.66.

PACS Group (NYSE:PACS) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.08. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.36 billion. PACS Group had a return on equity of 26.47% and a net margin of 4.49%. On average, sell-side analysts expect that PACS Group will post 2.19 EPS for the current fiscal year.

Insider Buying and Selling at PACS Group

In related news, COO Joshua Jergensen sold 36,335 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $34.28, for a total transaction of $1,245,563.80. Following the transaction, the chief operating officer directly owned 2,667,347 shares of the company’s stock, valued at approximately $91,436,655.16. The trade was a 1.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 70.10% of the company’s stock.

Hedge Funds Weigh In On PACS Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC acquired a new position in shares of PACS Group in the first quarter valued at $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 buying an additional 1,443 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of PACS Group by 68.3% during the 1st quarter. Millennium Management LLC now owns 859,295 shares of the company’s stock worth $9,658,000 after buying an additional 348,743 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of PACS Group during the 1st quarter worth about $64,000. Finally, Caxton Associates LLP acquired a new position in PACS Group in the 1st quarter valued at about $163,000.

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.