PACS Group (NYSE:PACS) Reaches New 52-Week Low – Here’s Why

PACS Group, Inc. (NYSE:PACS) shares reached a new 52-week low on Monday . The company traded as low as $12.67 and last traded at $12.77, with a volume of 22071 shares traded. The stock had previously closed at $13.01.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PACS shares. Citigroup began coverage on shares of PACS Group in a research note on Wednesday, September 11th. They set a “buy” rating and a $45.00 price target for the company. Truist Financial increased their price objective on PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a report on Monday, October 14th. Stephens cut their target price on PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $18.00 price target on shares of PACS Group in a research note on Tuesday, December 17th. Finally, UBS Group began coverage on PACS Group in a research note on Wednesday, October 9th. They issued a “buy” rating and a $50.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, PACS Group currently has a consensus rating of “Moderate Buy” and an average target price of $37.13.

PACS Group Stock Performance

The firm has a 50-day moving average of $20.71 and a 200 day moving average of $30.72. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71.

Institutional Trading of PACS Group

Several large investors have recently modified their holdings of PACS. Wellington Management Group LLP boosted its stake in PACS Group by 60.5% during the third quarter. Wellington Management Group LLP now owns 5,376,551 shares of the company’s stock worth $214,901,000 after acquiring an additional 2,025,835 shares in the last quarter. Zimmer Partners LP raised its holdings in shares of PACS Group by 191.2% during the third quarter. Zimmer Partners LP now owns 2,329,529 shares of the company’s stock valued at $93,111,000 after purchasing an additional 1,529,529 shares during the period. FMR LLC boosted its position in shares of PACS Group by 174.4% during the 3rd 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 in the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in shares of PACS Group in the 2nd quarter valued at about $19,584,000. Finally, Point72 Asset Management L.P. grew its stake in shares of PACS Group by 181.7% in the 3rd 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.