Macquarie Cuts PACS Group (NYSE:PACS) Price Target to $24.00

PACS Group (NYSE:PACS) had its price objective trimmed by Macquarie from $42.00 to $24.00 in a report issued on Monday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts have also weighed in on PACS. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $18.00 price target on shares of PACS Group in a research report on Tuesday, December 17th. Truist Financial cut their price target on PACS Group from $46.00 to $32.00 and set a “buy” rating for the company in a research note on Monday. Citigroup initiated coverage on PACS Group in a research report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 price objective on the stock. Stephens cut their target price on PACS Group from $48.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Finally, UBS Group began coverage on PACS Group in a report on Wednesday, October 9th. They issued a “buy” rating and a $50.00 price target on the stock. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.00.

PACS Group Stock Down 0.6 %

PACS stock opened at $13.18 on Monday. The business’s 50-day moving average price is $17.83 and its 200-day moving average price is $30.15. PACS Group has a twelve month low of $12.54 and a twelve month high of $43.92. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.82.

Hedge Funds Weigh In On PACS Group

Institutional investors have recently bought and sold shares of the business. Barclays PLC raised its position in shares of PACS Group by 651.3% during the 3rd quarter. Barclays PLC now owns 63,366 shares of the company’s stock valued at $2,532,000 after buying an additional 54,932 shares in the last quarter. Lisanti Capital Growth LLC bought a new stake in shares of PACS Group in the 3rd quarter valued at approximately $4,259,000. Concentric Capital Strategies LP purchased a new position in shares of PACS Group in the 3rd quarter worth approximately $3,970,000. Maven Securities LTD bought a new position in shares of PACS Group during the 3rd quarter valued at approximately $3,997,000. Finally, Wellington Management Group LLP increased its position in shares of PACS Group by 60.5% during the 3rd quarter. Wellington Management Group LLP now owns 5,376,551 shares of the company’s stock valued at $214,901,000 after purchasing an additional 2,025,835 shares during the last quarter.

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.