Macquarie Initiates Coverage on PACS Group (NYSE:PACS)

Equities research analysts at Macquarie initiated coverage on shares of PACS Group (NYSE:PACS) in a report issued on Friday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $35.00 price target on the stock. Macquarie’s price target suggests a potential upside of 18.64% from the company’s current price.

PACS has been the subject of several other reports. Truist Financial reissued a “buy” rating and set a $32.00 target price on shares of PACS Group in a research note on Wednesday, May 15th. Citigroup started coverage on shares of PACS Group in a research note on Monday, May 6th. They set a “buy” rating and a $32.00 target price for the company. Royal Bank of Canada increased their target price on shares of PACS Group from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, May 15th. Oppenheimer boosted their price target on shares of PACS Group from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. initiated coverage on shares of PACS Group in a report on Monday, May 6th. They set an “overweight” rating and a $27.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $31.57.

PACS Group Price Performance

PACS stock opened at $29.50 on Friday. PACS Group has a 12 month low of $22.61 and a 12 month high of $31.76. The company’s 50 day simple moving average is $27.84. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 5.75.

PACS Group (NYSE:PACS) last released its earnings results on Monday, May 13th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.30 by $0.08. The business had revenue of $934.72 million for the quarter, compared to analyst estimates of $893.07 million. As a group, research analysts expect that PACS Group will post 1.51 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jason Hulse Murray sold 1,607,142 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $21.00, for a total transaction of $33,749,982.00. Following the sale, the chief executive officer now owns 62,754,551 shares in the company, valued at $1,317,845,571. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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.