PACS Group (NYSE:PACS) Raised to "Buy" at Wall Street Zen

Key Points

• PACS Group was upgraded by Wall Street Zen from “hold” to “buy”, adding to a generally positive analyst view on the stock.
• Several other firms have recently turned more bullish, and the stock now has a consensus “Buy” rating with an average price target of $44.40.
• The company’s COO sold 36,335 shares in a recent insider transaction, while institutional investors have been adding to positions in PACS Group.

PACS Group (NYSE:PACS - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Sunday.

Several other research analysts have also recently weighed in on PACS. Zacks Research raised shares of PACS Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 4th. Royal Bank Of Canada boosted their price target on shares of PACS Group from $47.00 to $52.00 and gave the company an "outperform" rating in a research report on Friday, February 27th. UBS Group boosted their price target 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. Oppenheimer boosted their price target on shares of PACS Group from $40.00 to $42.00 and gave the company an "outperform" rating in a research report on Wednesday, March 4th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of PACS Group in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $44.40.

PACS Group Stock Down 0.1%

PACS stock opened at $33.59 on Friday. The company has a market cap of $5.28 billion, a price-to-earnings ratio of 27.31, a PEG ratio of 1.02 and a beta of -0.03. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36. PACS Group has a 12 month low of $7.50 and a 12 month high of $43.08. The firm has a 50-day moving average of $34.37 and a two-hundred day moving average of $31.74.

Insider Buying and Selling

In other PACS Group 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 value of $1,245,563.80. Following the transaction, the chief operating officer owned 2,667,347 shares of the company's stock, valued at $91,436,655.16. This represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 70.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Royce & Associates LP lifted its position in PACS Group by 76.6% in the third quarter. Royce & Associates LP now owns 1,859,070 shares of the company's stock valued at $25,525,000 after buying an additional 806,446 shares during the last quarter. American Alpha Advisors LLC acquired a new position in PACS Group in the third quarter valued at about $686,000. Peterson Wealth Services lifted its position in PACS Group by 57.6% in the third quarter. Peterson Wealth Services now owns 84,028 shares of the company's stock valued at $1,154,000 after buying an additional 30,701 shares during the last quarter. Crewe Advisors LLC lifted its position in PACS Group by 93.1% in the fourth quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company's stock valued at $82,455,000 after buying an additional 1,035,747 shares during the last quarter. Finally, Fox Run Management L.L.C. lifted its position in PACS Group by 216.6% in the third quarter. Fox Run Management L.L.C. now owns 36,502 shares of the company's stock valued at $501,000 after buying an additional 24,971 shares during 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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