PACS Group, Inc. (NYSE:PACS) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• PACS Group has a “Moderate Buy” consensus rating from seven analysts, with five buys and two holds. The average 12-month price target is $58.80, above the reported share price of $42.19.
• The company exceeded quarterly expectations, reporting $0.63 in EPS versus the $0.54 consensus and revenue of $1.43 billion versus $1.41 billion expected.
• Insiders sold 1.32 million shares worth approximately $57.5 million over the past 90 days, although most transactions were conducted under pre-arranged Rule 10b5-1 trading plans; insiders still own 70.1% of the stock.

PACS Group, Inc. (NYSE:PACS - Get Free Report) has earned a consensus rating of "Moderate Buy" from the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $58.80.

Several equities research analysts recently issued reports on PACS shares. Truist Financial set a $62.00 price target on shares of PACS Group in a report on Wednesday, September 2nd. Royal Bank Of Canada raised their target price on shares of PACS Group from $52.00 to $57.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. boosted their target price on shares of PACS Group from $47.00 to $58.00 and gave the stock an "overweight" rating in a research note on Friday, September 4th. Oppenheimer upped their price target on shares of PACS Group from $48.00 to $57.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. Finally, Wall Street Zen cut PACS Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 8th.

PACS Group Stock Performance

NYSE:PACS opened at $42.19 on Friday. The stock's 50-day simple moving average is $44.66 and its 200 day simple moving average is $39.18. The firm has a market capitalization of $6.68 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 1.33 and a beta of -0.13. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. PACS Group has a twelve month low of $10.31 and a twelve month high of $49.49.

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

Insider Transactions at PACS Group

In other news, CEO Jason Murray sold 91,306 shares of PACS Group stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $43.92, for a total transaction of $4,010,159.52. Following the sale, the chief executive officer directly owned 54,754,110 shares of the company's stock, valued at approximately $2,404,800,511.20. This trade represents a 0.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Hancock sold 155,682 shares of the business's stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $42.47, for a total value of $6,611,814.54. Following the sale, the director owned 53,518,884 shares in the company, valued at approximately $2,272,947,003.48. This trade represents a 0.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,322,655 shares of company stock valued at $57,456,006. Insiders own 70.10% of the company's stock.

Institutional Investors Weigh In On PACS Group

A number of institutional investors have recently added to or reduced their stakes in PACS. Tidal Investments LLC acquired a new position in PACS Group in the 2nd quarter valued at approximately $252,000. Engineers Gate Manager LP acquired a new position in shares of PACS Group during the second quarter worth $1,132,000. Integrated Wealth Concepts LLC acquired a new position in shares of PACS Group during the second quarter worth $75,000. Squarepoint Ops LLC grew its stake in shares of PACS Group by 94.7% in the second quarter. Squarepoint Ops LLC now owns 59,523 shares of the company's stock worth $2,538,000 after purchasing an additional 28,945 shares during the last quarter. Finally, Nykredit A S bought a new stake in shares of PACS Group in the second quarter worth $95,000.

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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