PACS Group (NYSE:PACS) Sets New 12-Month High – Should You Buy?

PACS Group, Inc. (NYSE:PACS) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $42.42 and last traded at $42.32, with a volume of 104569 shares. The stock had previously closed at $40.93.

Analysts Set New Price Targets

PACS has been the topic of several recent research reports. UBS Group assumed coverage on PACS Group in a report on Wednesday, October 9th. They set a “buy” rating and a $50.00 price target on the stock. Citigroup assumed coverage on PACS Group in a research report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 price target on the stock. Stephens increased their price target on PACS Group from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Oppenheimer increased their price target on PACS Group from $32.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, August 13th. Finally, Macquarie assumed coverage on PACS Group in a research report on Friday, June 28th. They issued an “outperform” rating and a $35.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $39.38.

PACS Group Stock Performance

The business has a 50-day moving average of $38.97. 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 (NYSE:PACS) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.35 by ($0.42). The business had revenue of $981.80 million during the quarter, compared to the consensus estimate of $919.22 million. The company’s revenue for the quarter was up 29.1% on a year-over-year basis. Equities analysts expect that PACS Group, Inc. will post 1.03 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank acquired a new position in shares of PACS Group in the second quarter valued at approximately $25,000. Sandia Investment Management LP purchased a new position in PACS Group during the 2nd quarter worth $295,000. The Manufacturers Life Insurance Company acquired a new stake in shares of PACS Group in the 2nd quarter worth $302,000. SG Americas Securities LLC purchased a new stake in shares of PACS Group in the third quarter valued at about $548,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of PACS Group during the second quarter worth about $552,000.

About PACS Group

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.