PACS Group (NYSE:PACS) Stock Price Down 5.5% – Should You Sell?

PACS Group, Inc. (NYSE:PACS) traded down 5.5% during mid-day trading on Thursday . The stock traded as low as $19.29 and last traded at $19.37. 517,476 shares traded hands during trading, a decline of 38% from the average session volume of 837,138 shares. The stock had previously closed at $20.49.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PACS. UBS Group assumed coverage on PACS Group in a research note on Wednesday, October 9th. They set a “buy” rating and a $50.00 target price for the company. Truist Financial raised their price objective on PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Stephens boosted their target price on PACS Group from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Oppenheimer lifted their price target on shares of PACS Group from $32.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, August 13th. Finally, Citigroup began coverage on PACS Group in a report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 price objective for the company. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $41.00.

PACS Group Price 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 has a 50-day moving average of $37.09 and a 200 day moving average of $33.63.

Hedge Funds Weigh In On PACS Group

A number of large investors have recently modified their holdings of PACS. Amalgamated Bank purchased a new stake in PACS Group in the 2nd quarter valued at $25,000. Whittier Trust Co. raised its stake in PACS Group by 152.2% in 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 shares of PACS Group during the 3rd quarter valued at approximately $66,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of PACS Group in the third quarter worth $251,000. Finally, US Bancorp DE grew its holdings in PACS Group by 56.2% during the 3rd quarter. US Bancorp DE now owns 6,681 shares of the company’s stock valued at $267,000 after buying an additional 2,404 shares in the last quarter.

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.