PACS Group, Inc. (NYSE:PACS) Receives Consensus Rating of “Moderate Buy” from Analysts

PACS Group, Inc. (NYSE:PACS) has received a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $34.00.

PACS has been the topic of several analyst reports. Stephens reduced their price objective on PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $18.00 price target on shares of PACS Group in a research note on Tuesday, December 17th. Macquarie cut their price target on PACS Group from $42.00 to $24.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Finally, Truist Financial cut their price target on PACS Group from $46.00 to $32.00 and set a “buy” rating on the stock in a research note on Monday, January 6th.

Institutional Trading of PACS Group

Several institutional investors and hedge funds have recently made changes to their positions in PACS. Wellington Management Group LLP lifted its holdings in shares of PACS Group by 60.5% in 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 last quarter. Zimmer Partners LP lifted its holdings in shares of PACS Group by 191.2% in 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 during the last quarter. Crewe Advisors LLC lifted its holdings in shares of PACS Group by 66,972.9% in the 4th quarter. Crewe Advisors LLC now owns 1,112,068 shares of the company’s stock valued at $14,579,000 after purchasing an additional 1,110,410 shares during the last quarter. FMR LLC lifted its holdings in shares of PACS Group by 174.4% in the 3rd quarter. FMR LLC now owns 1,641,651 shares of the company’s stock valued at $65,617,000 after purchasing an additional 1,043,399 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of PACS Group by 1,212.0% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,097,578 shares of the company’s stock valued at $14,389,000 after purchasing an additional 1,013,920 shares during the last quarter.

PACS Group Price Performance

Shares of NYSE PACS opened at $13.01 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.82. PACS Group has a 12-month low of $12.38 and a 12-month high of $43.92. The business’s fifty day simple moving average is $13.59 and its 200-day simple moving average is $25.24.

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.