PACS Group (NYSE:PACS) Price Target Lowered to $32.00 at Truist Financial

PACS Group (NYSE:PACS) had its price target reduced by Truist Financial from $46.00 to $32.00 in a research report sent to investors on Monday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

PACS has been the subject of several other reports. UBS Group began coverage on PACS Group in a report on Wednesday, October 9th. They set a “buy” rating and a $50.00 target price for the company. JPMorgan Chase & Co. reissued a “neutral” rating and set a $18.00 price objective on shares of PACS Group in a research note on Tuesday, December 17th. Citigroup assumed 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. Finally, Stephens lowered their price target 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. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

PACS Group Price Performance

NYSE PACS opened at $13.37 on Monday. The company has a 50-day simple moving average of $18.41 and a two-hundred day simple moving average of $30.26. PACS Group has a 12-month low of $12.54 and a 12-month high of $43.92. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71.

Institutional Trading of PACS Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its position in PACS Group by 60.5% during the 3rd quarter. Wellington Management Group LLP now owns 5,376,551 shares of the company’s stock valued at $214,901,000 after purchasing an additional 2,025,835 shares during the period. Zimmer Partners LP boosted its stake in shares of PACS Group by 191.2% during the 3rd quarter. Zimmer Partners LP now owns 2,329,529 shares of the company’s stock valued at $93,111,000 after purchasing an additional 1,529,529 shares in the last quarter. FMR LLC increased its position in shares of PACS Group by 174.4% during the third 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 during the period. JPMorgan Chase & Co. raised its stake in PACS Group by 5.9% in the third quarter. JPMorgan Chase & Co. now owns 1,272,720 shares of the company’s stock worth $50,871,000 after buying an additional 70,786 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in PACS Group by 65.2% in the third quarter. Geode Capital Management LLC now owns 834,440 shares of the company’s stock worth $33,359,000 after buying an additional 329,288 shares in the last quarter.

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.