PACS Group (NYSE:PACS) Price Target Raised to $57.00 at Oppenheimer

Key Points

• Oppenheimer raised PACS Group’s price target to $57 from $48 while maintaining an “outperform” rating, implying 17.27% potential upside from the stock’s $48.61 price. The analyst consensus is “Moderate Buy,” with a $56 average target.
• PACS Group reported quarterly EPS of $0.63, beating the $0.54 consensus estimate, while revenue of $1.43 billion also exceeded expectations of $1.41 billion.
• Shares rose 0.3% on Monday and are near their 52-week high, while insiders sold 796,524 shares worth approximately $31.6 million over the past three months.

PACS Group (NYSE:PACS - Get Free Report) had its price target hoisted by analysts at Oppenheimer from $48.00 to $57.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Oppenheimer's price target would suggest a potential upside of 17.27% from the stock's current price.

Other equities analysts have also issued research reports about the company. UBS Group upped their price target on PACS Group from $57.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday. Zacks Research lowered shares of PACS Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 14th. Wall Street Zen cut shares of PACS Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Weiss Ratings cut shares of PACS Group from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday. Finally, Truist Financial increased their target price on shares of PACS Group from $52.00 to $62.00 and gave the stock a "buy" rating in a research note on Thursday. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.00.

PACS Group Trading Up 0.3%

Shares of PACS stock traded up $0.17 during trading on Monday, hitting $48.61. 296,583 shares of the stock traded hands, compared to its average volume of 944,265. The firm has a market capitalization of $7.69 billion, a P/E ratio of 28.23, a price-to-earnings-growth ratio of 1.45 and a beta of -0.08. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.91 and a quick ratio of 0.91. The firm's fifty day moving average price is $41.73 and its 200-day moving average price is $37.83. PACS Group has a 52-week low of $7.50 and a 52-week high of $49.49.

PACS Group (NYSE:PACS - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.09. The firm had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.41 billion. PACS Group had a return on equity of 29.55% and a net margin of 4.85%. As a group, research analysts forecast that PACS Group will post 2.23 earnings per share for the current fiscal year.

Insider Activity at PACS Group

In other news, insider Mark Hancock sold 153,254 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $36.34, for a total transaction of $5,569,250.36. Following the sale, the insider owned 54,449,343 shares of the company's stock, valued at approximately $1,978,689,124.62. This represents a 0.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michelle Renee Lewis sold 15,000 shares of PACS Group stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $40.01, for a total transaction of $600,150.00. Following the completion of the transaction, the chief accounting officer owned 370,338 shares of the company's stock, valued at $14,817,223.38. This trade represents a 3.89% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 796,524 shares of company stock worth $31,611,396 in the last three months. 70.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On PACS Group

Large investors have recently added to or reduced their stakes in the business. Financial Management Professionals Inc. increased its position in shares of PACS Group by 54.9% in the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company's stock valued at $28,000 after purchasing an additional 235 shares during the last quarter. Jacobsen Capital Management raised its holdings in shares of PACS Group by 1.6% in the 1st quarter. Jacobsen Capital Management now owns 18,128 shares of the company's stock valued at $582,000 after purchasing an additional 294 shares in the last quarter. Larson Financial Group LLC lifted 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. Hollencrest Capital Management purchased a new stake in shares of PACS Group during the 4th quarter worth $27,000. Finally, Strategic Advocates LLC grew its stake in shares of PACS Group by 18.5% during the fourth quarter. Strategic Advocates LLC now owns 5,182 shares of the company's stock worth $203,000 after purchasing an additional 808 shares in the last quarter.

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.

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