PACS Group (NYSE:PACS) Stock Price Up 8.2% – Should You Buy?

PACS Group, Inc. (NYSE:PACS) shares traded up 8.2% on Thursday . The company traded as high as $33.26 and last traded at $33.6750. 612,418 shares were traded during trading, a decline of 29% from the average session volume of 857,756 shares. The stock had previously closed at $31.12.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PACS shares. Royal Bank Of Canada upped their target price on shares of PACS Group from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Wall Street Zen downgraded PACS Group from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of PACS Group in a report on Monday. Finally, Zacks Research cut shares of PACS Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 2nd. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $26.75.

PACS Group Stock Up 7.2%

The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.28. The company has a 50 day simple moving average of $18.24 and a two-hundred day simple moving average of $13.95. The company has a market capitalization of $5.22 billion, a P/E ratio of 31.76, a PEG ratio of 1.35 and a beta of -0.63.

PACS Group (NYSE:PACS) last announced its earnings results on Wednesday, November 19th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.36). PACS Group had a return on equity of 21.39% and a net margin of 3.29%.The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.11 billion. As a group, equities analysts predict that PACS Group, Inc. will post 1.01 EPS for the current year.

Insider Buying and Selling at PACS Group

In other news, Director Evelyn S. Dilsaver purchased 16,724 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The shares were bought at an average cost of $29.90 per share, for a total transaction of $500,047.60. Following the acquisition, the director owned 22,739 shares of the company’s stock, valued at approximately $679,896.10. This trade represents a 278.04% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Todd Mitchell sold 159,556 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $29.89, for a total transaction of $4,769,128.84. Following the completion of the sale, the insider directly owned 755,836 shares of the company’s stock, valued at approximately $22,591,938.04. The trade was a 17.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 70.40% of the company’s stock.

Hedge Funds Weigh In On PACS Group

A number of hedge funds have recently added to or reduced their stakes in PACS. Quarry LP raised its stake in shares of PACS Group by 79.5% during the third quarter. Quarry LP now owns 2,388 shares of the company’s stock valued at $33,000 after acquiring an additional 1,058 shares in the last quarter. Strategic Advocates LLC bought a new stake in PACS Group during the 3rd quarter valued at $60,000. State of Alaska Department of Revenue bought a new stake in PACS Group during the 3rd quarter valued at $69,000. Jones Financial Companies Lllp bought a new position in shares of PACS Group during the 1st quarter worth $64,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of PACS Group by 289.0% during the second quarter. Tower Research Capital LLC TRC now owns 6,166 shares of the company’s stock valued at $80,000 after buying an additional 4,581 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.