Millennium Management LLC Purchases Shares of 301,861 PACS Group, Inc. (NYSE:PACS)

Millennium Management LLC acquired a new stake in shares of PACS Group, Inc. (NYSE:PACS) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 301,861 shares of the company’s stock, valued at approximately $8,905,000. Millennium Management LLC owned approximately 0.20% of PACS Group at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Davidson Kempner Capital Management LP acquired a new position in PACS Group in the second quarter worth approximately $4,425,000. Bank of New York Mellon Corp acquired a new position in shares of PACS Group in the 2nd quarter worth $2,445,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of PACS Group during the second quarter worth $7,513,000. Point72 DIFC Ltd purchased a new stake in shares of PACS Group during the second quarter valued at $831,000. Finally, Renaissance Technologies LLC acquired a new position in shares of PACS Group in the 2nd quarter valued at $1,195,000.

Wall Street Analyst Weigh In

Several analysts have issued reports on PACS shares. Citigroup assumed coverage on PACS Group in a report on Wednesday, September 11th. They set a “buy” rating and a $45.00 price objective on the stock. Macquarie assumed coverage on shares of PACS Group in a report on Friday, June 28th. They set an “outperform” rating and a $35.00 price target on the stock. Stephens raised their price objective on shares of PACS Group from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Oppenheimer boosted their target price on shares of PACS Group from $32.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Finally, Truist Financial increased 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 investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $37.57.

PACS Group Trading Down 0.4 %

PACS Group stock opened at $38.32 on Wednesday. PACS Group, Inc. has a twelve month low of $22.61 and a twelve month high of $42.25. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.82. The company has a 50 day moving average of $38.47.

PACS Group (NYSE:PACS) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.42). The firm had revenue of $981.80 million for the quarter, compared to analyst estimates of $919.22 million. The business’s quarterly revenue was up 29.1% compared to the same quarter last year. As a group, sell-side analysts expect that PACS Group, Inc. will post 1.03 earnings per share for the current fiscal year.

PACS Group 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.