PACS Group (NYSE:PACS) Reaches New 12-Month Low – Here’s Why

PACS Group, Inc. (NYSE:PACS)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $12.37 and last traded at $12.67, with a volume of 6144 shares changing hands. The stock had previously closed at $12.60.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PACS. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $18.00 target price on shares of PACS Group in a report on Tuesday, December 17th. Truist Financial cut their price objective on PACS Group from $46.00 to $32.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Stephens lowered their target price on PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Finally, Macquarie cut their price target on PACS Group from $42.00 to $24.00 and set an “outperform” rating for the company in a report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

PACS Group Price Performance

The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71. The business has a 50 day moving average of $13.58 and a 200 day moving average of $24.02.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC lifted 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 worth $2,532,000 after buying an additional 54,932 shares during the period. Lisanti Capital Growth LLC bought a new position in shares of PACS Group during the third quarter valued at $4,259,000. Concentric Capital Strategies LP acquired a new stake in shares of PACS Group in the 3rd quarter valued at $3,970,000. Maven Securities LTD acquired a new stake in shares of PACS Group in the 3rd quarter valued at $3,997,000. Finally, Wellington Management Group LLP grew its holdings in shares of PACS Group by 60.5% in the 3rd quarter. Wellington Management Group LLP now owns 5,376,551 shares of the company’s stock worth $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.