20,000 Shares in PACS Group, Inc. (NYSE:PACS) Bought by Suvretta Capital Management LLC

Suvretta Capital Management LLC acquired a new stake in shares of PACS Group, Inc. (NYSE:PACS) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 20,000 shares of the company’s stock, valued at approximately $799,000.

A number of other hedge funds have also recently bought and sold shares of PACS. Amalgamated Bank purchased a new position in shares of PACS Group in the 2nd quarter worth approximately $25,000. Whittier Trust Co. lifted its holdings in PACS Group by 152.2% during the third quarter. Whittier Trust Co. now owns 1,382 shares of the company’s stock worth $55,000 after acquiring an additional 834 shares during the period. Crewe Advisors LLC purchased a new position in PACS Group in the third quarter worth $66,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in PACS Group in the 3rd quarter valued at $251,000. Finally, US Bancorp DE increased its position in shares of PACS Group by 56.2% during the 3rd quarter. US Bancorp DE now owns 6,681 shares of the company’s stock valued at $267,000 after purchasing an additional 2,404 shares during the last quarter.

PACS Group Stock Performance

Shares of PACS stock opened at $16.55 on Friday. The company’s fifty day simple moving average is $32.49 and its two-hundred day simple moving average is $33.07. PACS Group, Inc. has a 1 year low of $16.09 and a 1 year high of $43.92. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PACS shares. Citigroup assumed coverage on shares of PACS Group in a report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 price target on the stock. Stephens dropped their target price on shares of PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Truist Financial raised 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. Oppenheimer upped their price objective on PACS Group from $32.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $40.00 price objective on shares of PACS Group in a report on Wednesday, November 6th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $39.88.

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.