PACS Group, Inc. (NYSE:PACS) Receives Average Rating of “Moderate Buy” from Analysts

Shares of PACS Group, Inc. (NYSE:PACS) have received an average rating of “Moderate Buy” from the eight brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $34.00.

A number of equities research analysts have recently commented on PACS shares. Truist Financial dropped their price target on PACS Group from $46.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Macquarie reduced their price target on shares of PACS Group from $42.00 to $24.00 and set an “outperform” rating for the company in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $18.00 price objective on shares of PACS Group in a report on Tuesday, December 17th.

PACS Group Trading Down 5.7 %

PACS opened at $10.23 on Thursday. The company has a fifty day simple moving average of $12.93 and a 200 day simple moving average of $20.83. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71. PACS Group has a 12 month low of $9.87 and a 12 month high of $43.92.

Institutional Investors Weigh In On PACS Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC bought a new position in shares of PACS Group in the 3rd quarter valued at about $405,000. Charles Schwab Investment Management Inc. grew its stake in PACS Group by 78.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 327,005 shares of the company’s stock valued at $13,070,000 after purchasing an additional 143,389 shares in the last quarter. Penserra Capital Management LLC raised its stake in shares of PACS Group by 87.9% during the 3rd quarter. Penserra Capital Management LLC now owns 30,128 shares of the company’s stock worth $1,204,000 after purchasing an additional 14,098 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of PACS Group by 45.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 14,882 shares of the company’s stock valued at $595,000 after buying an additional 4,660 shares during the last quarter. Finally, FMR LLC grew its stake in shares of PACS Group by 174.4% in the third quarter. FMR LLC now owns 1,641,651 shares of the company’s stock valued at $65,617,000 after buying an additional 1,043,399 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.