PACS Group (NYSE:PACS) Price Target Cut to $32.00 by Analysts at Truist Financial

PACS Group (NYSE:PACS) had its price objective lowered by Truist Financial from $46.00 to $32.00 in a report released on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

PACS has been the topic of a number of other research reports. UBS Group initiated coverage on shares of PACS Group in a report on Wednesday, October 9th. They issued a “buy” rating and a $50.00 price objective on the stock. Citigroup assumed coverage on PACS Group in a research note on Wednesday, September 11th. They issued a “buy” rating and a $45.00 price target on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $18.00 price objective on shares of PACS Group in a research report on Tuesday, December 17th. Finally, Stephens dropped their target price on PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

PACS Group Price Performance

NYSE:PACS opened at $13.37 on Monday. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.82. The firm’s 50-day moving average price is $18.41 and its 200-day moving average price is $30.26. PACS Group has a 1-year low of $12.54 and a 1-year high of $43.92.

Institutional Investors Weigh In On PACS Group

Several institutional investors have recently modified their holdings of the business. Wellington Management Group LLP raised its position in PACS Group by 60.5% in the 3rd quarter. Wellington Management Group LLP now owns 5,376,551 shares of the company’s stock worth $214,901,000 after buying an additional 2,025,835 shares during the last quarter. Zimmer Partners LP raised its holdings in shares of PACS Group by 191.2% during 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 during the last quarter. FMR LLC lifted its position in PACS Group by 174.4% during the third quarter. FMR LLC now owns 1,641,651 shares of the company’s stock valued at $65,617,000 after purchasing an additional 1,043,399 shares during the period. Deerfield Management Company L.P. Series C purchased a new stake in PACS Group in the second quarter worth approximately $19,584,000. Finally, Point72 Asset Management L.P. grew its position in PACS Group by 181.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 637,543 shares of the company’s stock worth $25,483,000 after purchasing an additional 411,194 shares during the period.

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.