Geode Capital Management LLC Has $33.36 Million Stake in PACS Group, Inc. (NYSE:PACS)

Geode Capital Management LLC increased its holdings in shares of PACS Group, Inc. (NYSE:PACS) by 65.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 834,440 shares of the company’s stock after acquiring an additional 329,288 shares during the quarter. Geode Capital Management LLC owned about 0.55% of PACS Group worth $33,359,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PACS. Amalgamated Bank lifted its holdings in PACS Group by 56.7% during the 3rd quarter. Amalgamated Bank now owns 1,349 shares of the company’s stock worth $54,000 after purchasing an additional 488 shares during the last quarter. Whittier Trust Co. raised its holdings in PACS Group by 152.2% in the 3rd quarter. Whittier Trust Co. now owns 1,382 shares of the company’s stock valued at $55,000 after acquiring an additional 834 shares in the last quarter. Crewe Advisors LLC bought a new stake in shares of PACS Group during the 3rd quarter valued at $66,000. US Bancorp DE increased its position in shares of PACS Group by 56.2% in the third quarter. US Bancorp DE now owns 6,681 shares of the company’s stock worth $267,000 after purchasing an additional 2,404 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in PACS Group by 45.6% in the third quarter. The Manufacturers Life Insurance Company now owns 14,882 shares of the company’s stock valued at $595,000 after purchasing an additional 4,660 shares in the last quarter.

PACS Group Price Performance

PACS Group stock opened at $13.09 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. The stock has a 50-day moving average price of $23.55 and a two-hundred day moving average price of $31.31. PACS Group, Inc. has a 12 month low of $12.71 and a 12 month high of $43.92.

Analyst Ratings Changes

PACS has been the topic of several recent analyst reports. Citigroup began coverage on shares of PACS Group in a report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 target price on the stock. JPMorgan Chase & Co. restated a “neutral” rating and set a $18.00 price objective on shares of PACS Group in a research report on Tuesday, December 17th. Truist Financial raised their target price on PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a report on Monday, October 14th. Stephens dropped their price objective on PACS Group from $48.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Finally, UBS Group started coverage on PACS Group in a research report on Wednesday, October 9th. They issued a “buy” rating and a $50.00 target price on the stock. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.13.

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.