Brokerages Set PACS Group, Inc. (NYSE:PACS) Target Price at $34.00

PACS Group, Inc. (NYSE:PACS - Get Free Report) has received an average recommendation of "Moderate Buy" from the eight research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $34.00.

PACS has been the topic of several research analyst reports. Stephens reduced their price target on shares of PACS Group from $48.00 to $31.00 and set an "overweight" rating on the stock in a research report on Monday, November 18th. UBS Group started coverage on PACS Group in a report on Wednesday, October 9th. They set a "buy" rating and a $50.00 target price on the stock. Macquarie lowered their price target on PACS Group from $42.00 to $24.00 and set an "outperform" rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. restated a "neutral" rating and set a $18.00 price objective on shares of PACS Group in a research note on Tuesday, December 17th. Finally, Truist Financial decreased their price objective on shares of PACS Group from $46.00 to $32.00 and set a "buy" rating for the company in a report on Monday, January 6th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Barclays PLC lifted its stake in PACS Group by 651.3% in the 3rd quarter. Barclays PLC now owns 63,366 shares of the company's stock worth $2,532,000 after acquiring an additional 54,932 shares in the last quarter. Lisanti Capital Growth LLC acquired a new position in shares of PACS Group in the 3rd quarter valued at about $4,259,000. Concentric Capital Strategies LP purchased a new stake in PACS Group in the 3rd quarter worth approximately $3,970,000. Maven Securities LTD acquired a new stake in shares of PACS Group during the 3rd quarter valued at $3,997,000. Finally, Wellington Management Group LLP grew its holdings in shares of PACS Group by 60.5% during the 3rd quarter. Wellington Management Group LLP now owns 5,376,551 shares of the company's stock valued at $214,901,000 after acquiring an additional 2,025,835 shares in the last quarter.

PACS Group Trading Down 3.0 %

Shares of NYSE PACS traded down $0.39 during midday trading on Friday, reaching $12.81. 522,856 shares of the company's stock were exchanged, compared to its average volume of 585,343. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.82. PACS Group has a 52-week low of $12.54 and a 52-week high of $43.92. The business's fifty day moving average price is $16.04 and its two-hundred day moving average price is $29.80.

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.