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

PACS Group, Inc. (NYSE:PACS)’s stock price reached a new 52-week low on Monday . The company traded as low as $12.71 and last traded at $12.77, with a volume of 43284 shares traded. The stock had previously closed at $13.01.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Truist Financial upped their target price on PACS Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Citigroup initiated coverage on shares of PACS Group in a report on Wednesday, September 11th. They set a “buy” rating and a $45.00 target price on the stock. Stephens lowered their price target on shares of 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. reaffirmed a “neutral” rating and set a $18.00 price objective on shares of PACS Group in a research note on Tuesday, December 17th. Finally, 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 on the stock. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.13.

PACS Group Stock Performance

The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71. The business’s 50-day simple moving average is $24.64 and its 200-day simple moving average is $31.54.

Hedge Funds Weigh In On PACS Group

Several hedge funds have recently made changes to their positions in the business. Amalgamated Bank purchased a new stake in PACS Group in the second quarter worth about $25,000. Whittier Trust Co. lifted its position in PACS Group by 152.2% during the 3rd quarter. Whittier Trust Co. now owns 1,382 shares of the company’s stock valued at $55,000 after acquiring an additional 834 shares during the period. Crewe Advisors LLC purchased a new stake in PACS Group in the third quarter worth about $66,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of PACS Group during the third quarter valued at approximately $251,000. Finally, US Bancorp DE boosted its position in shares of PACS Group by 56.2% in the 3rd quarter. US Bancorp DE now owns 6,681 shares of the company’s stock worth $267,000 after purchasing an additional 2,404 shares in 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.