PACS Group (NYSE:PACS) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded PACS Group from “strong-buy” to “buy,” though the broader analyst consensus remains “Moderate Buy,” with five Buy ratings and two Holds and an average price target of $54.20.
• PACS shares opened at $48.38 after rising 3.7%, near their 12-month high of $49.49. The company also exceeded quarterly expectations, reporting $0.63 in earnings per share versus a $0.54 consensus estimate and $1.43 billion in revenue.
• Insiders sold 796,524 shares worth approximately $31.6 million over the past 90 days, while insiders continue to own 70.1% of the company; several hedge funds and investment managers have increased their positions.

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

A number of other equities analysts also recently commented on the company. Weiss Ratings downgraded PACS Group from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday. UBS Group upped their target price on PACS Group from $57.00 to $60.00 and gave the company a "buy" rating in a report on Thursday. Oppenheimer upped their target price on PACS Group from $42.00 to $48.00 and gave the company an "outperform" rating in a report on Wednesday, May 13th. Royal Bank Of Canada raised their target price on PACS Group from $52.00 to $57.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Truist Financial lifted their price target on PACS Group from $52.00 to $62.00 and gave the stock a "buy" rating in a report on Thursday. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $54.20.

PACS Group Stock Up 3.7%

PACS stock opened at $48.38 on Friday. The company has a market cap of $7.66 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 1.40 and a beta of -0.08. The company has a current ratio of 0.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.21. PACS Group has a 12 month low of $7.50 and a 12 month high of $49.49. The firm has a 50-day moving average of $41.73 and a two-hundred day moving average of $37.84.

PACS Group (NYSE:PACS - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.09. The business 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, analysts forecast that PACS Group will post 2.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Michelle Renee Lewis sold 4,137 shares of the firm's stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $45.04, for a total transaction of $186,330.48. Following the completion of the sale, the chief accounting officer owned 355,338 shares in the company, valued at $16,004,423.52. This trade represents a 1.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Hancock sold 4,966 shares of the company's stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $45.06, for a total value of $223,767.96. Following the completion of the transaction, the director owned 53,920,512 shares in the company, valued at $2,429,658,270.72. This represents a 0.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 796,524 shares of company stock valued at $31,611,396 in the last 90 days. Insiders own 70.10% of the company's stock.

Hedge Funds Weigh In On PACS Group

Several large investors have recently modified their holdings of the business. Financial Management Professionals Inc. boosted its position in shares of PACS Group by 54.9% during the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company's stock worth $28,000 after purchasing an additional 235 shares during the period. Jacobsen Capital Management raised its position in PACS Group by 1.6% in the first quarter. Jacobsen Capital Management now owns 18,128 shares of the company's stock valued at $582,000 after purchasing an additional 294 shares during the period. Larson Financial Group LLC raised its position in 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 purchasing an additional 612 shares during the period. Hollencrest Capital Management acquired a new position in PACS Group during the fourth quarter worth $27,000. Finally, Strategic Advocates LLC lifted its stake in 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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