PACS Group (NYSE:PACS) Rating Lowered to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded PACS Group from “strong buy” to “hold,” though the broader analyst consensus remains “moderate buy,” with five buy ratings and two holds.
• Other analysts recently raised their price targets, contributing to a consensus target of $58.80 versus the stock’s $44.77 opening price.
• PACS Group exceeded quarterly expectations, reporting $0.63 in EPS on $1.43 billion in revenue, while insiders sold approximately $52.6 million of stock over the past three months.

PACS Group (NYSE:PACS - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Wednesday, Zacks reports.

A number of other research analysts have also recently issued reports on the stock. UBS Group raised their price target on shares of PACS Group from $57.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Royal Bank Of Canada lifted their price target on PACS Group from $52.00 to $57.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. Weiss Ratings downgraded PACS Group from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, August 5th. Wall Street Zen downgraded shares of PACS Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Oppenheimer raised their target price on PACS Group from $48.00 to $57.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $58.80.

PACS Group Trading Up 0.4%

Shares of NYSE:PACS opened at $44.77 on Wednesday. The business's 50-day moving average is $44.74 and its 200 day moving average is $39.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.91 and a quick ratio of 0.91. PACS Group has a 1 year low of $8.00 and a 1 year high of $49.49. The firm has a market capitalization of $7.08 billion, a P/E ratio of 26.03, a P/E/G ratio of 1.39 and a beta of -0.13.

PACS Group (NYSE:PACS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.09. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.41 billion. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. On average, research analysts predict that PACS Group will post 2.13 earnings per share for the current fiscal year.

Insider Activity at PACS Group

In other news, CEO Jason Murray sold 4,758 shares of the company's stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $43.33, for a total transaction of $206,164.14. Following the completion of the transaction, the chief executive officer directly owned 54,574,866 shares of the company's stock, valued at $2,364,728,943.78. This represents a 0.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,263,038 shares of company stock valued at $52,600,000 in the last three months. 70.10% of the stock is owned by insiders.

Institutional Investors Weigh In On PACS Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Hollencrest Capital Management purchased a new position in PACS Group during the fourth quarter valued at $27,000. Financial Management Professionals Inc. increased its stake in shares of PACS Group by 54.9% during the second quarter. Financial Management Professionals Inc. now owns 663 shares of the company's stock worth $28,000 after purchasing an additional 235 shares in the last quarter. Quarry LP increased its stake in shares of PACS Group by 79.5% during the third quarter. Quarry LP now owns 2,388 shares of the company's stock worth $33,000 after purchasing an additional 1,058 shares in the last quarter. Larson Financial Group LLC raised its position in shares of PACS Group by 127.0% during the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company's stock worth $42,000 after purchasing an additional 612 shares during the last quarter. Finally, KBC Group NV acquired a new position in shares of PACS Group during the 1st quarter worth about $42,000.

About PACS Group

PACS Group, Inc is a U.S. healthcare services company that operates skilled nursing and post-acute care facilities. Its facilities provide short-term rehabilitation, long-term skilled nursing, nursing care, and related clinical services for patients recovering from illness, injury, surgery, or hospitalization.

The company's broader care offerings may include assisted living, memory care, behavioral health, and other specialized post-acute services, depending on the facility and market.

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