State Street Corp Purchases 410,606 Shares of PACS Group, Inc. (NYSE:PACS)

State Street Corp increased its position in PACS Group, Inc. (NYSE:PACS) by 119.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 754,221 shares of the company’s stock after acquiring an additional 410,606 shares during the quarter. State Street Corp’s holdings in PACS Group were worth $30,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Quadrature Capital Ltd purchased a new stake in PACS Group during the third quarter valued at approximately $717,000. Point72 Asset Management L.P. grew its position in shares of PACS Group by 181.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 637,543 shares of the company’s stock valued at $25,483,000 after acquiring an additional 411,194 shares during the period. Maven Securities LTD bought a new position in PACS Group in the 3rd quarter worth $3,997,000. Janus Henderson Group PLC purchased a new position in PACS Group during the third quarter valued at $535,000. Finally, HighTower Advisors LLC bought a new stake in PACS Group during the third quarter valued at about $2,303,000.

PACS Group Stock Performance

Shares of NYSE:PACS opened at $13.01 on Friday. The firm has a 50 day moving average of $24.64 and a 200 day moving average of $31.53. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71. PACS Group, Inc. has a 52 week low of $12.78 and a 52 week high of $43.92.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Truist Financial raised 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 assumed coverage on PACS Group in a research note on Wednesday, October 9th. They set a “buy” rating and a $50.00 target price on the stock. Stephens dropped their price target on PACS Group from $48.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $18.00 price objective on shares of PACS Group in a research report on Tuesday, December 17th. Finally, Citigroup started coverage on shares of PACS Group in a research report on Wednesday, September 11th. They set a “buy” rating and a $45.00 target price for the company. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, PACS Group has a consensus rating of “Moderate Buy” and a consensus target price of $37.13.

PACS Group 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.