Royce & Associates LP Has $18.59 Million Stock Holdings in PACS Group, Inc. (NYSE:PACS)

Royce & Associates LP boosted its holdings in shares of PACS Group, Inc. (NYSE:PACS) by 2.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 465,198 shares of the company’s stock after buying an additional 10,002 shares during the period. Royce & Associates LP’s holdings in PACS Group were worth $18,594,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Deerfield Management Company L.P. Series C acquired a new position in PACS Group during the second quarter valued at $19,584,000. Allspring Global Investments Holdings LLC raised its position in PACS Group by 48.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 378,325 shares of the company’s stock valued at $15,122,000 after buying an additional 123,654 shares during the period. Lighthouse Investment Partners LLC acquired a new position in PACS Group during the second quarter valued at $8,946,000. Millennium Management LLC acquired a new position in PACS Group during the second quarter valued at $8,905,000. Finally, Ghisallo Capital Management LLC acquired a new position in PACS Group during the second quarter valued at $8,850,000.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PACS. Oppenheimer upped their price target on PACS Group from $32.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, August 13th. UBS Group initiated coverage on PACS Group in a research note on Wednesday, October 9th. They issued a “buy” rating and a $50.00 target price on the stock. Stephens boosted their target price on PACS Group from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $40.00 target price on shares of PACS Group in a research note on Wednesday, November 6th. Finally, Citigroup initiated coverage on PACS Group in a research note on Wednesday, September 11th. They issued a “buy” rating and a $45.00 target price on the stock. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, PACS Group presently has a consensus rating of “Buy” and an average price target of $41.00.

PACS Group Trading Down 5.6 %

PACS opened at $17.40 on Friday. The stock has a 50-day moving average of $37.09 and a 200-day moving average of $33.63. PACS Group, Inc. has a 52-week low of $16.74 and a 52-week high of $43.92. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.82.

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.