Teacher Retirement System of Texas Buys 47,232 Shares of PACS Group, Inc. (NYSE:PACS)

Teacher Retirement System of Texas lifted its stake in PACS Group, Inc. (NYSE:PACS) by 526.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 56,210 shares of the company’s stock after buying an additional 47,232 shares during the period. Teacher Retirement System of Texas’ holdings in PACS Group were worth $737,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in PACS Group by 60.5% during the third quarter. Wellington Management Group LLP now owns 5,376,551 shares of the company’s stock worth $214,901,000 after buying an additional 2,025,835 shares in the last quarter. Zimmer Partners LP increased its stake in PACS Group by 191.2% in the third quarter. Zimmer Partners LP now owns 2,329,529 shares of the company’s stock valued at $93,111,000 after acquiring an additional 1,529,529 shares during the period. Crewe Advisors LLC increased its stake in PACS Group by 66,972.9% in the fourth quarter. Crewe Advisors LLC now owns 1,112,068 shares of the company’s stock valued at $14,579,000 after acquiring an additional 1,110,410 shares during the period. FMR LLC raised its position in PACS Group by 174.4% in the third quarter. FMR LLC now owns 1,641,651 shares of the company’s stock worth $65,617,000 after purchasing an additional 1,043,399 shares in the last quarter. Finally, Royce & Associates LP lifted its stake in PACS Group by 97.4% during the fourth quarter. Royce & Associates LP now owns 918,423 shares of the company’s stock worth $12,041,000 after purchasing an additional 453,225 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PACS shares. Macquarie lowered their price objective 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. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $18.00 price objective on shares of PACS Group in a research note on Tuesday, December 17th. Finally, Truist Financial reduced their target price on shares of PACS Group from $46.00 to $32.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.00.

PACS Group Trading Down 1.3 %

PACS Group stock opened at $10.91 on Monday. The business’s fifty day moving average is $13.13 and its two-hundred day moving average is $21.32. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71. PACS Group, Inc. has a 52 week low of $10.66 and a 52 week high of $43.92.

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.