PACS Group (NYSE:PACS) Sets New 1-Year High – Time to Buy?

PACS Group, Inc. (NYSE:PACS) shares hit a new 52-week high on Friday . The company traded as high as $43.69 and last traded at $43.68, with a volume of 28962 shares trading hands. The stock had previously closed at $42.68.

Analyst Ratings Changes

PACS has been the subject of several research analyst reports. Citigroup began coverage on shares of PACS Group in a research note on Wednesday, September 11th. They issued a “buy” rating and a $45.00 price objective for the company. Stephens raised their price target on PACS Group from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Oppenheimer boosted their price objective on PACS Group from $32.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. UBS Group began coverage on shares of PACS Group in a research report on Wednesday, October 9th. They set a “buy” rating and a $50.00 target price on the stock. Finally, Truist Financial lifted their target price on shares of PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a report on Monday, October 14th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $39.38.

PACS Group Trading Up 0.6 %

The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.82. The firm has a 50 day simple moving average of $40.14 and a two-hundred day simple moving average of $33.79.

PACS Group (NYSE:PACS) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.42). The company had revenue of $981.80 million for the quarter, compared to analysts’ expectations of $919.22 million. The business’s revenue for the quarter was up 29.1% compared to the same quarter last year. On average, equities analysts expect that PACS Group, Inc. will post 1.03 EPS for the current year.

Institutional Investors Weigh In On PACS Group

A number of institutional investors have recently added to or reduced their stakes in PACS. Deerfield Management Company L.P. Series C acquired a new stake in PACS Group in the second quarter valued at $19,584,000. Allspring Global Investments Holdings LLC increased its holdings in shares of PACS Group by 48.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 378,325 shares of the company’s stock valued at $15,122,000 after purchasing an additional 123,654 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new stake in shares of PACS Group in the second quarter valued at about $8,946,000. Millennium Management LLC purchased a new stake in PACS Group during the second quarter worth about $8,905,000. Finally, Ghisallo Capital Management LLC acquired a new position in PACS Group during the second quarter worth about $8,850,000.

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.