PACS Group, Inc. (NYSE:PACS) Position Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in shares of PACS Group, Inc. (NYSE:PACS) by 5.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,272,720 shares of the company’s stock after acquiring an additional 70,786 shares during the period. JPMorgan Chase & Co.’s holdings in PACS Group were worth $50,871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new stake in shares of PACS Group during the second quarter valued at approximately $2,445,000. Rhumbline Advisers acquired a new stake in PACS Group in the 2nd quarter valued at approximately $870,000. Oppenheimer Asset Management Inc. bought a new stake in PACS Group during the 2nd quarter valued at $552,000. Renaissance Technologies LLC acquired a new position in PACS Group during the 2nd quarter worth $1,195,000. Finally, Amalgamated Bank bought a new position in shares of PACS Group in the second quarter worth $25,000.

PACS Group Stock Performance

PACS stock opened at $13.35 on Friday. The company’s 50 day simple moving average is $18.98 and its 200-day simple moving average is $30.36. PACS Group, Inc. has a 52-week low of $12.54 and a 52-week high of $43.92. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71.

Analysts Set New Price Targets

A number of research analysts recently commented on PACS shares. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $18.00 price objective on shares of PACS Group in a research note on Tuesday, December 17th. Citigroup began coverage on PACS Group in a research note on Wednesday, September 11th. They set a “buy” rating and a $45.00 price target for the company. Truist Financial boosted their price objective on PACS Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. UBS Group began coverage on PACS Group in a research note on Wednesday, October 9th. They set a “buy” rating and a $50.00 target price for the company. Finally, Stephens dropped 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. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.13.

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.