PACS Group, Inc. (NYSE:PACS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of PACS Group, Inc. (NYSE:PACS) have been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $34.00.

Several equities analysts have recently commented on the stock. Macquarie reduced their price target on shares of PACS Group from $42.00 to $24.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $18.00 target price on shares of PACS Group in a research report on Tuesday, December 17th. Finally, Truist Financial dropped their price target on PACS Group from $46.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, January 6th.

Institutional Trading of PACS Group

Large investors have recently added to or reduced their stakes in the business. Cohen & Steers Inc. raised its position in shares of PACS Group by 1.5% during the 4th quarter. Cohen & Steers Inc. now owns 9,721,887 shares of the company’s stock worth $127,437,000 after buying an additional 139,767 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of PACS Group by 16.3% during the fourth quarter. Wellington Management Group LLP now owns 6,254,909 shares of the company’s stock valued at $82,002,000 after acquiring an additional 878,358 shares during the period. Vanguard Group Inc. raised its holdings in PACS Group by 6.4% during the fourth quarter. Vanguard Group Inc. now owns 3,929,545 shares of the company’s stock worth $51,516,000 after purchasing an additional 237,069 shares in the last quarter. Zimmer Partners LP lifted its position in PACS Group by 191.2% in the third quarter. Zimmer Partners LP now owns 2,329,529 shares of the company’s stock worth $93,111,000 after purchasing an additional 1,529,529 shares during the period. Finally, FMR LLC boosted its stake in PACS Group by 174.4% during the 3rd quarter. FMR LLC now owns 1,641,651 shares of the company’s stock valued at $65,617,000 after purchasing an additional 1,043,399 shares in the last quarter.

PACS Group Stock Up 3.3 %

NYSE PACS opened at $11.27 on Thursday. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.82. PACS Group has a 12 month low of $10.64 and a 12 month high of $43.92. The company’s fifty day moving average price is $13.07 and its two-hundred day moving average price is $21.12.

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.