PACS Group (NYSE:PACS) Reaches New 12-Month Low – What’s Next?

PACS Group, Inc. (NYSE:PACS) hit a new 52-week low on Monday . The stock traded as low as $16.11 and last traded at $16.22, with a volume of 1636906 shares traded. The stock had previously closed at $16.50.

Analysts Set New Price Targets

PACS has been the subject of several recent research reports. Citigroup began coverage on shares of PACS Group in a research report on Wednesday, September 11th. They set a “buy” rating and a $45.00 price target for the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $40.00 target price on shares of PACS Group in a research note on Wednesday, November 6th. UBS Group assumed coverage on PACS Group in a research note on Wednesday, October 9th. They issued a “buy” rating and a $50.00 price target for the company. Stephens cut their price objective on shares of PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Finally, Oppenheimer increased their target price on shares of PACS Group from $32.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, August 13th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $39.88.

PACS Group Price Performance

The stock’s fifty day simple moving average is $34.45 and its two-hundred day simple moving average is $33.43. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Lisanti Capital Growth LLC bought a new stake in shares of PACS Group during the 3rd quarter worth $4,259,000. GSA Capital Partners LLP acquired a new position in shares of PACS Group in the 3rd quarter valued at $1,229,000. Davidson Kempner Capital Management LP purchased a new position in PACS Group in the 2nd quarter worth about $4,425,000. Bank of New York Mellon Corp acquired a new stake in PACS Group during the 2nd quarter worth about $2,445,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of PACS Group in the second quarter worth about $7,513,000.

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.