PACS Group (NYSE:PACS) Shares Gap Up – Still a Buy?

PACS Group, Inc. (NYSE:PACS)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $13.11, but opened at $14.00. PACS Group shares last traded at $13.47, with a volume of 87,758 shares.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PACS shares. Stephens cut their price target on shares of PACS Group from $48.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, November 18th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $18.00 target price on shares of PACS Group in a research note on Tuesday, December 17th. Citigroup started coverage on shares of PACS Group in a research report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 price target on the stock. Truist Financial increased their price objective on PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, UBS Group assumed coverage on PACS Group in a research report on Wednesday, October 9th. They set a “buy” rating and a $50.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $37.13.

PACS Group Price Performance

The business’s 50-day simple moving average is $18.98 and its 200-day simple moving average is $30.36. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71.

Institutional Investors Weigh In On PACS Group

Several institutional investors have recently made changes to their positions in PACS. JPMorgan Chase & Co. lifted its holdings in PACS Group by 5.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,272,720 shares of the company’s stock worth $50,871,000 after purchasing an additional 70,786 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of PACS Group in the third quarter worth $472,000. Geode Capital Management LLC raised its holdings in PACS Group by 65.2% in the 3rd quarter. Geode Capital Management LLC now owns 834,440 shares of the company’s stock worth $33,359,000 after acquiring an additional 329,288 shares during the period. Barclays PLC increased its stake in PACS Group by 651.3% during the third quarter. Barclays PLC now owns 63,366 shares of the company’s stock valued at $2,532,000 after acquiring an additional 54,932 shares during the period. Finally, Zimmer Partners LP raised its stake in shares of PACS Group by 191.2% in the third quarter. Zimmer Partners LP now owns 2,329,529 shares of the company’s stock valued at $93,111,000 after purchasing an additional 1,529,529 shares in the last quarter.

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.