Zurcher Kantonalbank Zurich Cantonalbank Buys New Shares in PACS Group, Inc. (NYSE:PACS)

Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in PACS Group, Inc. (NYSE:PACS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,278 shares of the company’s stock, valued at approximately $251,000.

Other hedge funds have also made changes to their positions in the company. Lisanti Capital Growth LLC bought a new position in PACS Group during the third quarter worth about $4,259,000. GSA Capital Partners LLP bought a new position in PACS Group during the third quarter worth about $1,229,000. Davidson Kempner Capital Management LP bought a new position in PACS Group during the second quarter worth about $4,425,000. BNP Paribas Financial Markets lifted its stake in PACS Group by 3,518.4% during the third quarter. BNP Paribas Financial Markets now owns 61,512 shares of the company’s stock worth $2,459,000 after purchasing an additional 59,812 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in PACS Group during the third quarter worth about $6,995,000.

Analyst Upgrades and Downgrades

PACS has been the subject of several recent analyst reports. Truist Financial raised their price objective on shares of PACS Group from $44.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Citigroup initiated coverage on shares of PACS Group in a report on Wednesday, September 11th. They set a “buy” rating and a $45.00 price objective for the company. Stephens dropped their price objective on shares of PACS Group from $48.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, November 18th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $40.00 price objective on shares of PACS Group in a report on Wednesday, November 6th. Finally, UBS Group initiated coverage on shares of PACS Group in a report on Wednesday, October 9th. They set a “buy” rating and a $50.00 price objective for the company. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $39.88.

PACS Group Price Performance

Shares of NYSE PACS opened at $15.51 on Monday. The company’s fifty day moving average is $29.52 and its 200-day moving average is $32.63. PACS Group, Inc. has a twelve month low of $14.43 and a twelve month high of $43.92. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71.

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.