PACS Group (NYSE:PACS) Sets New 12-Month Low – Here’s Why

PACS Group, Inc. (NYSE:PACS)’s stock price hit a new 52-week low on Monday . The company traded as low as $12.44 and last traded at $12.49, with a volume of 61615 shares traded. The stock had previously closed at $12.79.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. 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 report on Monday, November 18th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $18.00 target price on shares of PACS Group in a research report on Tuesday, December 17th. Macquarie reduced their price objective on PACS Group from $42.00 to $24.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Finally, Truist Financial lowered their target price on PACS Group from $46.00 to $32.00 and set a “buy” rating for the company in a research report on Monday, January 6th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.00.

PACS Group Stock Up 3.7 %

The company’s 50 day simple moving average is $13.59 and its 200-day simple moving average is $25.77. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71.

Hedge Funds Weigh In On PACS Group

A number of large investors have recently bought and sold shares of PACS. Amalgamated Bank lifted its position in shares of PACS Group by 56.7% during the third quarter. Amalgamated Bank now owns 1,349 shares of the company’s stock worth $54,000 after purchasing an additional 488 shares during the last quarter. Crewe Advisors LLC purchased a new position in PACS Group in the 3rd quarter worth about $66,000. State of Wyoming bought a new stake in PACS Group during the 4th quarter valued at about $47,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in PACS Group in the 3rd quarter valued at about $251,000. Finally, US Bancorp DE grew its stake in 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 acquiring 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.