PACS Group (NYSE:PACS) Hits New 52-Week High – Still a Buy?

Shares of PACS Group, Inc. (NYSE:PACS) reached a new 52-week high during trading on Saturday . The company traded as high as $47.62 and last traded at $46.7320, with a volume of 856253 shares. The stock had previously closed at $44.82.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PACS. Oppenheimer increased their price objective on shares of PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Truist Financial boosted their target price on PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, May 18th. UBS Group upped their target price on PACS Group from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Weiss Ratings upgraded PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 8th. Finally, Wall Street Zen raised PACS Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 15th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, PACS Group presently has an average rating of “Moderate Buy” and an average price target of $50.60.

PACS Group Stock Up 4.3%

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 market cap of $7.40 billion, a PE ratio of 29.96, a P/E/G ratio of 1.34 and a beta of -0.08. The business’s 50-day simple moving average is $40.00 and its 200 day simple moving average is $37.43.

PACS Group (NYSE:PACS) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.08. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.36 billion. As a group, equities research analysts expect that PACS Group, Inc. will post 2.23 earnings per share for the current year.

Insider Buying and Selling

In other PACS Group news, insider John Todd Mitchell sold 52,763 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $38.02, for a total transaction of $2,006,049.26. Following the sale, the insider owned 830,955 shares of the company’s stock, valued at approximately $31,592,909.10. This trade represents a 5.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Hancock sold 153,254 shares of PACS Group stock in a transaction on Monday, June 15th. The shares were sold at an average price of $36.34, for a total value of $5,569,250.36. Following the completion of the transaction, the insider owned 54,449,343 shares in the company, valued at $1,978,689,124.62. This represents a 0.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 796,524 shares of company stock valued at $31,611,396 over the last 90 days. Corporate insiders own 70.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Handelsbanken Fonder AB bought a new stake in PACS Group during the second quarter valued at about $567,000. Financial Management Professionals Inc. raised its holdings in PACS Group by 54.9% in the second quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock worth $28,000 after purchasing an additional 235 shares in the last quarter. Empowered Funds LLC bought a new position in PACS Group in the first quarter worth about $278,000. Western Wealth Management LLC purchased a new stake in shares of PACS Group during the first quarter valued at about $48,000. Finally, Smith Group Asset Management LLC purchased a new stake in shares of PACS Group during the first quarter valued at about $771,000.

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.