PACS Group (NYSE:PACS) Sets New 12-Month Low – Here’s Why

Shares of PACS Group, Inc. (NYSE:PACS) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $11.09 and last traded at $11.34, with a volume of 325450 shares changing hands. The stock had previously closed at $11.36.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PACS. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $18.00 price target on shares of PACS Group in a report on Tuesday, December 17th. Truist Financial lowered their target price on PACS Group from $46.00 to $32.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Macquarie dropped their price target on PACS Group from $42.00 to $24.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

PACS Group Stock Performance

The business has a 50 day moving average of $13.13 and a two-hundred day moving average of $21.56. 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 modified their holdings of the company. State of Wyoming acquired a new stake in PACS Group in the 4th quarter valued at $47,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of PACS Group during the third quarter valued at about $251,000. KLP Kapitalforvaltning AS acquired a new position in shares of PACS Group during the fourth quarter valued at about $126,000. Intech Investment Management LLC bought a new stake in shares of PACS Group during the third quarter worth about $405,000. Finally, Savant Capital LLC acquired a new stake in shares of PACS Group in the 4th quarter worth about $142,000.

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.