PACS Group, Inc. (NYSE:PACS) Receives $39.88 Average Price Target from Brokerages

PACS Group, Inc. (NYSE:PACS) has been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $37.13.

PACS has been the subject of a number of analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $18.00 price objective on shares of PACS Group in a research report on Tuesday, December 17th. Truist Financial boosted their target price on PACS Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. UBS Group started coverage on PACS Group in a report on Wednesday, October 9th. They issued a “buy” rating and a $50.00 price target on the stock. Citigroup began coverage on shares of PACS Group in a research report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 price objective on the stock. Finally, Stephens dropped their target price on shares of PACS Group from $48.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, November 18th.

Institutional Trading of PACS Group

Several institutional investors have recently added to or reduced their stakes in PACS. Lisanti Capital Growth LLC bought a new stake in PACS Group in the third quarter valued at approximately $4,259,000. Concentric Capital Strategies LP purchased a new position in shares of PACS Group in the 3rd quarter valued at approximately $3,970,000. Maven Securities LTD purchased a new position in PACS Group during the third quarter valued at $3,997,000. Wellington Management Group LLP boosted its stake in PACS Group by 60.5% during the third quarter. Wellington Management Group LLP now owns 5,376,551 shares of the company’s stock worth $214,901,000 after acquiring an additional 2,025,835 shares in the last quarter. Finally, Soros Fund Management LLC boosted its position in shares of PACS Group by 233.3% in the 3rd quarter. Soros Fund Management LLC now owns 500,000 shares of the company’s stock worth $19,985,000 after purchasing an additional 350,000 shares in the last quarter.

PACS Group Stock Down 0.5 %

PACS opened at $13.01 on Tuesday. The company has a 50 day moving average of $24.64 and a 200 day moving average of $31.53. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.82. PACS Group has a 12 month low of $12.78 and a 12 month high of $43.92.

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.