PACS Group (NYSE:PACS) Price Target Cut to $32.00 by Analysts at Truist Financial

PACS Group (NYSE:PACS) had its price objective lowered by Truist Financial from $46.00 to $32.00 in a research report released on Monday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other equities analysts have also issued reports on the company. UBS Group began coverage on PACS Group in a report on Wednesday, October 9th. They issued a “buy” rating and a $50.00 price objective for the company. Stephens decreased their price target on PACS Group from $48.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. JPMorgan Chase & Co. restated a “neutral” rating and set a $18.00 price objective on shares of PACS Group in a research note on Tuesday, December 17th. Finally, Citigroup initiated coverage on shares of PACS Group in a research report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 target price for the company. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

PACS Group Stock Performance

NYSE PACS opened at $13.18 on Monday. The company has a 50-day moving average price of $17.83 and a two-hundred day moving average price of $30.15. PACS Group has a 52 week low of $12.54 and a 52 week high of $43.92. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71.

Hedge Funds Weigh In On PACS Group

A number of institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP grew its holdings in PACS Group by 60.5% in the 3rd quarter. Wellington Management Group LLP now owns 5,376,551 shares of the company’s stock valued at $214,901,000 after buying an additional 2,025,835 shares during the last quarter. Zimmer Partners LP boosted its position in PACS Group by 191.2% in the 3rd quarter. Zimmer Partners LP now owns 2,329,529 shares of the company’s stock valued at $93,111,000 after buying an additional 1,529,529 shares during the last quarter. FMR LLC increased its position in PACS Group by 174.4% in the third quarter. FMR LLC now owns 1,641,651 shares of the company’s stock worth $65,617,000 after purchasing an additional 1,043,399 shares during the period. Deerfield Management Company L.P. Series C bought a new stake in shares of PACS Group during the second quarter worth approximately $19,584,000. Finally, Point72 Asset Management L.P. lifted its stake in PACS Group by 181.7% in the third quarter. Point72 Asset Management L.P. now owns 637,543 shares of the company’s stock valued at $25,483,000 after buying an additional 411,194 shares during the period.

PACS Group Company Profile

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.