Marshall Wace LLP Buys Shares of 24,854 PACS Group, Inc. (NYSE:PACS)

Marshall Wace LLP purchased a new position in shares of PACS Group, Inc. (NYSE:PACS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 24,854 shares of the company’s stock, valued at approximately $733,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Davidson Kempner Capital Management LP purchased a new position in PACS Group during the second quarter worth about $4,425,000. Bank of New York Mellon Corp acquired a new position in PACS Group during the second quarter worth $2,445,000. Allspring Global Investments Holdings LLC purchased a new position in shares of PACS Group during the second quarter worth $7,513,000. Renaissance Technologies LLC acquired a new stake in shares of PACS Group in the second quarter valued at $1,195,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of PACS Group in the 2nd quarter valued at $552,000.

Analysts Set New Price Targets

A number of brokerages recently commented on PACS. Stephens raised their target price on PACS Group from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Macquarie initiated coverage on shares of PACS Group in a research note on Friday, June 28th. They set an “outperform” rating and a $35.00 target price on the stock. Citigroup began coverage on shares of PACS Group in a research report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 price target for the company. Oppenheimer upped their price objective on PACS Group from $32.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. Finally, Truist Financial lifted their target price on PACS Group from $36.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, PACS Group presently has a consensus rating of “Buy” and an average price target of $37.57.

PACS Group Trading Down 0.4 %

Shares of PACS stock opened at $38.32 on Wednesday. PACS Group, Inc. has a 12 month low of $22.61 and a 12 month high of $42.25. 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 stock’s fifty day moving average price is $38.47.

PACS Group (NYSE:PACS) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.42). The business had revenue of $981.80 million for the quarter, compared to the consensus estimate of $919.22 million. PACS Group’s quarterly revenue was up 29.1% on a year-over-year basis. On average, sell-side analysts expect that PACS Group, Inc. will post 1.03 earnings per share for the current year.

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.