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

Key Points

• Analysts have a consensus “Buy” rating on PACS Group (6 firms covering the stock: 1 hold, 4 buy, 1 strong buy) with an average 1-year price target of $44.40.
• Shares opened at $32.33, trading below the 50‑day moving average ($36.38) but above the 200‑day ($27.31); the company has a market cap of ~$5.08 billion and a P/E of 26.28.
• COO Joshua Jergensen sold 36,335 shares at an average price of $34.28 for about $1.25 million, while corporate insiders collectively own 70.40% of the company.

Shares of PACS Group, Inc. (NYSE:PACS - Get Free Report) have received a consensus rating of "Buy" from the six research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $44.40.

A number of equities analysts have recently commented on the company. Wall Street Zen upgraded PACS Group from a "hold" rating to a "buy" rating in a report on Sunday, February 15th. Truist Financial set a $40.00 price target on PACS Group in a report on Friday, December 12th. JPMorgan Chase & Co. began coverage on shares of PACS Group in a research note on Wednesday, December 17th. They set an "overweight" rating and a $44.00 price objective for the company. UBS Group boosted their price objective on shares of PACS Group from $42.00 to $44.00 and gave the company a "buy" rating in a research report on Wednesday, March 4th. Finally, Zacks Research raised shares of PACS Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 4th.

PACS Group Trading Down 0.9%

Shares of NYSE PACS opened at $32.33 on Friday. The business's 50 day moving average is $36.38 and its two-hundred day moving average is $27.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.07 and a quick ratio of 1.07. PACS Group has a 1-year low of $7.50 and a 1-year high of $43.08. The stock has a market capitalization of $5.08 billion, a P/E ratio of 26.28, a PEG ratio of 1.04 and a beta of -0.64.

Insider Activity at PACS Group

In related news, COO Joshua Jergensen sold 36,335 shares of the company's stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $34.28, for a total transaction of $1,245,563.80. Following the transaction, the chief operating officer directly owned 2,667,347 shares in the company, valued at approximately $91,436,655.16. This represents a 1.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 70.40% of the company's stock.

Institutional Trading of PACS Group

Institutional investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management bought a new position in shares of PACS Group during the fourth quarter valued at approximately $27,000. Larson Financial Group LLC boosted its holdings in PACS Group by 127.0% during the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company's stock valued at $42,000 after acquiring an additional 612 shares during the period. Physician Wealth Advisors Inc. bought a new position in PACS Group in the 4th quarter valued at $74,000. Caitong International Asset Management Co. Ltd purchased a new stake in PACS Group in the fourth quarter worth $89,000. Finally, Quarry LP lifted its position 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 during 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.

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