Geode Capital Management LLC Has $33.36 Million Holdings in PACS Group, Inc. (NYSE:PACS)

Geode Capital Management LLC boosted its stake in PACS Group, Inc. (NYSE:PACS) by 65.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 834,440 shares of the company’s stock after purchasing an additional 329,288 shares during the period. Geode Capital Management LLC’s holdings in PACS Group were worth $33,359,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Amalgamated Bank acquired a new stake in shares of PACS Group in the second quarter valued at about $25,000. Whittier Trust Co. increased its position in shares of PACS Group by 152.2% during the third quarter. Whittier Trust Co. now owns 1,382 shares of the company’s stock worth $55,000 after buying an additional 834 shares during the period. Crewe Advisors LLC bought a new position in PACS Group during the third quarter worth $66,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in PACS Group in the third quarter valued at $251,000. Finally, US Bancorp DE boosted its position in PACS Group by 56.2% during the third quarter. US Bancorp DE now owns 6,681 shares of the company’s stock valued at $267,000 after acquiring an additional 2,404 shares during the last quarter.

PACS Group Stock Performance

PACS opened at $13.09 on Thursday. PACS Group, Inc. has a 1-year low of $12.71 and a 1-year high of $43.92. The company’s fifty day moving average price is $23.55 and its two-hundred day moving average price is $31.31. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. UBS Group began coverage on PACS Group in a research report on Wednesday, October 9th. They issued a “buy” rating and a $50.00 price objective for the company. 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. Truist Financial raised their price objective on shares of PACS Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Stephens dropped their target price on shares of PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. Finally, Citigroup started coverage on shares of PACS Group in a report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 price target for the company. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, PACS Group has a consensus rating of “Moderate Buy” and an average target price of $37.13.

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.