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

PACS Group, Inc. (NYSE:PACS) has been assigned an average rating of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $34.00.

PACS has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $18.00 target price on shares of PACS Group in a research note on Tuesday, December 17th. Macquarie lowered their price objective on shares of PACS Group from $42.00 to $24.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Truist Financial cut their target price 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. Finally, Stephens decreased their price objective on shares of PACS Group from $48.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, November 18th.

PACS Group Stock Down 0.7 %

Shares of PACS stock opened at $14.09 on Wednesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71. The stock’s fifty day moving average price is $13.97 and its 200 day moving average price is $27.43. PACS Group has a 1-year low of $12.54 and a 1-year high of $43.92.

Institutional Investors Weigh In On PACS Group

A number of institutional investors have recently modified their holdings of the business. Wellington Management Group LLP boosted its position in PACS Group by 60.5% during the third 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 in the last quarter. Zimmer Partners LP increased its position in shares of PACS Group by 191.2% in the third quarter. Zimmer Partners LP now owns 2,329,529 shares of the company’s stock valued at $93,111,000 after buying an additional 1,529,529 shares in the last quarter. Crewe Advisors LLC raised its stake in shares of PACS Group by 66,972.9% during the 4th quarter. Crewe Advisors LLC now owns 1,112,068 shares of the company’s stock worth $14,579,000 after buying an additional 1,110,410 shares during the period. FMR LLC lifted its position in shares of 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 buying an additional 1,043,399 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its stake in PACS Group by 181.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 637,543 shares of the company’s stock valued at $25,483,000 after acquiring an additional 411,194 shares during the period.

PACS Group Company Profile

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.