PACS Group (NYSE:PACS) Sets New 1-Year Low – What’s Next?

PACS Group, Inc. (NYSE:PACS) hit a new 52-week low on Monday . The stock traded as low as $15.37 and last traded at $15.53, with a volume of 37174 shares changing hands. The stock had previously closed at $15.81.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PACS shares. Citigroup started coverage on PACS Group in a report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 price objective for the company. UBS Group started coverage on PACS Group in a report on Wednesday, October 9th. They issued a “buy” rating and a $50.00 price objective for the company. Truist Financial lifted their price objective on PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a report on Monday, October 14th. Stephens dropped their price objective on PACS Group from $48.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Finally, Oppenheimer boosted their price target on PACS Group from $32.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $39.88.

PACS Group Stock Performance

The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.82. The business has a 50-day moving average of $31.99 and a two-hundred day moving average of $33.09.

Institutional Investors Weigh In On PACS Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC bought a new stake in PACS Group during the 3rd quarter worth $472,000. Geode Capital Management LLC grew its position in shares of PACS Group by 65.2% in the 3rd quarter. Geode Capital Management LLC now owns 834,440 shares of the company’s stock valued at $33,359,000 after buying an additional 329,288 shares during the last quarter. Barclays PLC grew its position in shares of PACS Group by 651.3% in the 3rd quarter. Barclays PLC now owns 63,366 shares of the company’s stock valued at $2,532,000 after buying an additional 54,932 shares during the last quarter. Zimmer Partners LP grew its position in shares of PACS Group by 191.2% in the 3rd quarter. Zimmer Partners LP now owns 2,329,529 shares of the company’s stock valued at $93,111,000 after buying an additional 1,529,529 shares during the last quarter. Finally, Jane Street Group LLC grew its position in shares of PACS Group by 63.2% in the 3rd quarter. Jane Street Group LLC now owns 38,746 shares of the company’s stock valued at $1,549,000 after buying an additional 15,003 shares during 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.