PACS Group (NYSE:PACS) Sets New 1-Year Low – Should You Sell?

PACS Group, Inc. (NYSE:PACS) reached a new 52-week low during trading on Monday . The stock 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.

Analyst Ratings Changes

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

PACS Group Price Performance

The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71. The business has a 50-day moving average price of $21.83 and a 200 day moving average price of $30.96.

Institutional Trading of PACS Group

A number of hedge funds have recently bought and sold shares of PACS. JPMorgan Chase & Co. boosted its position in shares of PACS Group by 5.9% in the third quarter. JPMorgan Chase & Co. now owns 1,272,720 shares of the company’s stock worth $50,871,000 after buying an additional 70,786 shares during the period. Virtu Financial LLC acquired a new position in shares of PACS Group in the 3rd quarter valued at about $472,000. Geode Capital Management LLC lifted its position in shares of PACS Group by 65.2% in the third quarter. Geode Capital Management LLC now owns 834,440 shares of the company’s stock worth $33,359,000 after purchasing an additional 329,288 shares in the last quarter. Barclays PLC boosted its holdings in shares of PACS Group by 651.3% during the third quarter. Barclays PLC now owns 63,366 shares of the company’s stock worth $2,532,000 after purchasing an additional 54,932 shares during the period. Finally, Zimmer Partners LP increased its stake 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 period.

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.