PACS Group (NYSE:PACS) Hits New 12-Month High – Time to Buy?

PACS Group, Inc. (NYSE:PACS) shares reached a new 52-week high during trading on Monday. The company traded as high as $49.78 and last traded at $49.21, with a volume of 294,579 shares trading hands. The stock had previously closed at $47.64.

Analyst Ratings Changes

PACS has been the topic of several recent analyst reports. Zacks Research downgraded PACS Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 9th. UBS Group boosted their price objective on PACS Group from $57.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Royal Bank Of Canada upped their price objective on PACS Group from $52.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Wall Street Zen lowered PACS Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Oppenheimer lifted their target price on PACS Group from $48.00 to $57.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $58.80.

PACS Group Price Performance

The company has a 50-day moving average of $43.91 and a 200 day moving average of $39.68. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $7.79 billion, a PE ratio of 28.61, a PEG ratio of 1.49 and a beta of -0.08.

PACS Group (NYSE:PACS) last issued its earnings results on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.09. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.41 billion. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. Sell-side analysts predict that PACS Group, Inc. will post 2.13 EPS for the current year.

Insider Activity at PACS Group

In related news, CEO Jason Murray sold 68,917 shares of PACS Group stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $48.60, for a total transaction of $3,349,366.20. Following the transaction, the chief executive officer owned 54,188,200 shares in the company, valued at approximately $2,633,546,520. This trade represents a 0.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Joshua Jergensen sold 40,000 shares of the business’s stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $44.50, for a total value of $1,780,000.00. Following the transaction, the chief operating officer directly owned 2,456,320 shares in the company, valued at $109,306,240. This trade represents a 1.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,313,332 shares of company stock valued at $58,321,281. Insiders own 70.10% of the company’s stock.

Institutional Investors Weigh In On PACS Group

Hedge funds have recently modified their holdings of the company. Financial Management Professionals Inc. grew its stake in shares of PACS Group by 54.9% in the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock valued at $28,000 after buying an additional 235 shares during the period. GK Wealth Management LLC purchased a new stake in PACS Group in the third quarter valued at $41,000. USA Financial Formulas acquired a new position in shares of PACS Group in the 3rd quarter valued at $46,000. KBC Group NV acquired a new position in shares of PACS Group in the 1st quarter valued at $42,000. Finally, Western Wealth Management LLC acquired a new position in shares of PACS Group in the 1st quarter valued at $48,000.

About PACS Group

PACS Group, Inc is a U.S.-based healthcare services company that owns and operates post-acute care facilities. Its platform focuses primarily on skilled nursing and transitional care, serving patients who require rehabilitation, recovery support, long-term care, and other services following hospitalization or acute medical treatment.

The company’s operations also include assisted living, independent living, and behavioral health services in select locations. Through its facilities and related healthcare capabilities, PACS Group provides services such as nursing care, physical and occupational therapy, speech therapy, medical treatment, and support for patients with complex or extended care needs.

Founded in 2013 and headquartered in Farmington, Utah, PACS Group serves communities across multiple U.S.