PACS Group (NYSE:PACS) Rating Lowered to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded PACS Group from a "Buy" to a "Hold" in a recent research note.
• Despite the downgrade, PACS maintains a consensus rating of "Buy" with a consensus target price of $44.40, and several firms (Oppenheimer, UBS, RBC) recently raised their price targets.
• COO Joshua Jergensen sold 36,335 shares for about $1.25 million, insiders own 70.40% of the stock, and PACS trades near $33 with a market cap of $5.19 billion.

PACS Group (NYSE:PACS - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

Other research analysts also recently issued research reports about the stock. Oppenheimer upped their price target on shares of PACS Group from $40.00 to $42.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 4th. Weiss Ratings restated a "hold (c)" rating on shares of PACS Group in a research report on Friday, March 27th. Zacks Research upgraded shares of PACS Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 4th. UBS Group upped their price target on shares of PACS Group from $42.00 to $44.00 and gave the stock a "buy" rating in a research report on Wednesday, March 4th. Finally, Royal Bank Of Canada upped their price target on shares of PACS Group from $47.00 to $52.00 and gave the stock an "outperform" rating in a research report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, PACS Group presently has a consensus rating of "Buy" and a consensus target price of $44.40.

PACS Group Trading Down 1.6%

NYSE PACS opened at $33.02 on Friday. The company has a fifty day moving average of $34.75 and a 200 day moving average of $31.04. The company has a market capitalization of $5.19 billion, a PE ratio of 26.85, a P/E/G ratio of 1.02 and a beta of -0.02. PACS Group has a 1 year low of $7.50 and a 1 year high of $43.08. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.07 and a quick ratio of 1.07.

Insider Transactions 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 completion of the sale, the chief operating officer owned 2,667,347 shares of the company's stock, valued at approximately $91,436,655.16. This represents a 1.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 70.40% of the company's stock.

Institutional Trading of PACS Group

Several large investors have recently bought and sold shares of PACS. Hollencrest Capital Management acquired a new stake in PACS Group in the 4th quarter valued at approximately $27,000. Larson Financial Group LLC raised its stake in shares of PACS Group by 127.0% in the fourth 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 in the last quarter. Physician Wealth Advisors Inc. acquired a new stake in PACS Group during the fourth quarter worth approximately $74,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of PACS Group in the 4th quarter valued at $89,000. Finally, Quarry LP raised its holdings in shares of PACS Group by 79.5% in the third quarter. Quarry LP now owns 2,388 shares of the company's stock valued at $33,000 after buying an additional 1,058 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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