PACS Group (NYSE:PACS) Receives New Coverage from Analysts at Macquarie

Equities researchers at Macquarie initiated coverage on shares of PACS Group (NYSE:PACS) in a research note issued on Friday, Benzinga reports. The brokerage set an “outperform” rating and a $35.00 price target on the stock. Macquarie’s price objective would suggest a potential upside of 15.93% from the company’s previous close.

A number of other brokerages also recently issued reports on PACS. Stephens reiterated an “overweight” rating and issued a $31.00 price target on shares of PACS Group in a report on Tuesday, May 14th. JPMorgan Chase & Co. started coverage on PACS Group in a research report on Monday, May 6th. They issued an “overweight” rating and a $27.00 price objective for the company. Oppenheimer raised their price objective on PACS Group from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 15th. Truist Financial reissued a “buy” rating and issued a $32.00 price objective on shares of PACS Group in a research report on Wednesday, May 15th. Finally, Citigroup started coverage on PACS Group in a research report on Monday, May 6th. They issued a “buy” rating and a $32.00 price objective for the company. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $31.57.

PACS Group Trading Up 3.1 %

Shares of NYSE:PACS opened at $30.19 on Friday. PACS Group has a 12-month low of $22.61 and a 12-month high of $31.76. The firm has a fifty day moving average of $27.72. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 5.75.

PACS Group (NYSE:PACS) last announced its quarterly earnings results on Monday, May 13th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.08. The company had revenue of $934.72 million during the quarter, compared to analysts’ expectations of $893.07 million. As a group, equities analysts anticipate that PACS Group will post 1.51 earnings per share for the current year.

Insiders Place Their Bets

In other PACS Group news, CEO Jason Hulse Murray sold 1,607,142 shares of PACS Group stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $21.00, for a total transaction of $33,749,982.00. Following the completion of the sale, the chief executive officer now owns 62,754,551 shares of the company’s stock, valued at approximately $1,317,845,571. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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.