PACS Group (NYSE:PACS) Stock Price Down 3.7% – Time to Sell?

Shares of PACS Group, Inc. (NYSE:PACS) fell 3.7% on Friday . The stock traded as low as $15.93 and last traded at $15.94. 315,555 shares were traded during mid-day trading, a decline of 65% from the average session volume of 891,108 shares. The stock had previously closed at $16.55.

Analysts Set New Price Targets

PACS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $40.00 price objective on shares of PACS Group in a research note on Wednesday, November 6th. UBS Group initiated coverage on shares of PACS Group in a research report on Wednesday, October 9th. They issued a “buy” rating and a $50.00 target price for the company. Truist Financial raised their price objective on shares of PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Citigroup initiated coverage on shares of PACS Group in a report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 target price for the company. Finally, Oppenheimer increased their price target on shares of PACS Group from $32.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $39.88.

PACS Group Trading Down 4.5 %

The business’s 50-day simple moving average is $32.49 and its two-hundred day simple moving average is $33.07. 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 and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP boosted its holdings in PACS Group by 60.5% in the third quarter. Wellington Management Group LLP now owns 5,376,551 shares of the company’s stock worth $214,901,000 after purchasing an additional 2,025,835 shares during the last quarter. Zimmer Partners LP increased its stake in PACS Group by 191.2% during the third quarter. Zimmer Partners LP now owns 2,329,529 shares of the company’s stock worth $93,111,000 after acquiring an additional 1,529,529 shares during the last quarter. FMR LLC boosted its position in shares of PACS Group by 174.4% during the third quarter. FMR LLC now owns 1,641,651 shares of the company’s stock valued at $65,617,000 after buying an additional 1,043,399 shares during the period. Deerfield Management Company L.P. Series C purchased a new stake in shares of PACS Group during the second quarter valued at $19,584,000. Finally, Point72 Asset Management L.P. grew its position in shares of PACS Group by 181.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 637,543 shares of the company’s stock worth $25,483,000 after buying an additional 411,194 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.