PACS Group (NYSE:PACS) Sets New 52-Week High – Time to Buy?

PACS Group, Inc. (NYSE:PACS)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $43.93 and last traded at $42.6220, with a volume of 1451023 shares traded. The stock had previously closed at $39.94.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PACS. Weiss Ratings restated a “hold (c)” rating on shares of PACS Group in a research note on Wednesday, June 24th. Wall Street Zen upgraded shares of PACS Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 15th. Oppenheimer increased their target price on shares of PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Zacks Research cut shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Finally, Truist Financial boosted their price target on shares of PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, PACS Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

PACS Group Trading Up 6.7%

The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average price of $36.66 and a 200-day moving average price of $36.43. The company has a market capitalization of $6.75 billion and a price-to-earnings ratio of 27.32.

PACS Group (NYSE:PACS) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.08. PACS Group had a return on equity of 26.47% and a net margin of 4.49%.The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.36 billion. As a group, sell-side analysts predict that PACS Group, Inc. will post 2.23 EPS for the current year.

Insiders Place Their Bets

In other news, insider John Todd Mitchell sold 27,389 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $37.16, for a total transaction of $1,017,775.24. Following the completion of the transaction, the insider owned 803,566 shares in the company, valued at approximately $29,860,512.56. This trade represents a 3.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michelle Renee Lewis sold 15,000 shares of PACS Group stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $40.01, for a total transaction of $600,150.00. Following the completion of the transaction, the chief accounting officer directly owned 370,338 shares in the company, valued at $14,817,223.38. This represents a 3.89% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 595,152 shares of company stock worth $22,500,363. 70.10% of the stock is owned by corporate insiders.

Institutional Trading of PACS Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in PACS. Jacobsen Capital Management grew its position in PACS Group by 1.6% in the first quarter. Jacobsen Capital Management now owns 18,128 shares of the company’s stock worth $582,000 after buying an additional 294 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of PACS Group by 127.0% during the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $42,000 after acquiring an additional 612 shares during the last quarter. Hollencrest Capital Management acquired a new stake in shares of PACS Group during the 4th quarter valued at $27,000. Strategic Advocates LLC boosted its stake in shares of PACS Group by 18.5% during the 4th quarter. Strategic Advocates LLC now owns 5,182 shares of the company’s stock worth $203,000 after acquiring an additional 808 shares in the last quarter. Finally, Peterson Wealth Services boosted its stake in shares of PACS Group by 1.6% during the 1st quarter. Peterson Wealth Services now owns 53,672 shares of the company’s stock worth $1,724,000 after acquiring an additional 854 shares in the last quarter.

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.