PACS Group, Inc. (NYSE:PACS) Given Average Rating of “Buy” by Brokerages

Shares of PACS Group, Inc. (NYSE:PACS) have been given an average recommendation of “Buy” by the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $39.88.

Several research analysts have weighed in on PACS shares. Citigroup initiated coverage on PACS Group in a research report on Wednesday, September 11th. They set a “buy” rating and a $45.00 price objective on the stock. Stephens lowered their price target on shares of PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $40.00 price objective on shares of PACS Group in a research note on Wednesday, November 6th. UBS Group started coverage on shares of PACS Group in a research report on Wednesday, October 9th. They set a “buy” rating and a $50.00 target price on the stock. Finally, Truist Financial lifted their price target on shares of PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, October 14th.

Institutional Investors Weigh In On PACS Group

Several hedge funds have recently modified their holdings of PACS. Lisanti Capital Growth LLC acquired a new position in PACS Group in the 3rd quarter worth about $4,259,000. Concentric Capital Strategies LP bought a new stake in shares of PACS Group during the third quarter worth about $3,970,000. Maven Securities LTD bought a new stake in shares of PACS Group during the third quarter worth about $3,997,000. Wellington Management Group LLP increased its stake in shares of PACS Group by 60.5% in the third quarter. Wellington Management Group LLP now owns 5,376,551 shares of the company’s stock valued at $214,901,000 after buying an additional 2,025,835 shares during the period. Finally, Soros Fund Management LLC raised its holdings in PACS Group by 233.3% in the 3rd quarter. Soros Fund Management LLC now owns 500,000 shares of the company’s stock valued at $19,985,000 after buying an additional 350,000 shares during the last quarter.

PACS Group Price Performance

Shares of PACS stock opened at $15.18 on Tuesday. PACS Group has a 12-month low of $14.43 and a 12-month high of $43.92. The firm has a 50 day moving average price of $27.15 and a two-hundred day moving average price of $32.12. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71.

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.