PACS Group (NYSE:PACS) Sets New 12-Month Low – Time to Sell?

Shares of PACS Group, Inc. (NYSE:PACS) reached a new 52-week low during trading 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.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $18.00 price target on shares of PACS Group in a research note on Tuesday, December 17th. Stephens cut their target price on PACS Group from $48.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Macquarie lowered their price target on PACS Group from $42.00 to $24.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Finally, Truist Financial cut their price objective on PACS Group from $46.00 to $32.00 and set a “buy” rating for the company in a report on Monday, January 6th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, PACS Group currently has an average rating of “Moderate Buy” and an average target price of $34.00.

PACS Group Price Performance

The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.82. The firm has a fifty day moving average price of $13.64 and a 200 day moving average price of $25.92.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PACS. Cohen & Steers Inc. boosted its position in PACS Group by 1.5% during the 4th quarter. Cohen & Steers Inc. now owns 9,721,887 shares of the company’s stock worth $127,437,000 after acquiring an additional 139,767 shares during the period. Wellington Management Group LLP lifted its position in shares of PACS Group by 16.3% in the fourth quarter. Wellington Management Group LLP now owns 6,254,909 shares of the company’s stock worth $82,002,000 after purchasing an additional 878,358 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of PACS Group by 6.4% during the fourth quarter. Vanguard Group Inc. now owns 3,929,545 shares of the company’s stock worth $51,516,000 after purchasing an additional 237,069 shares during the period. Zimmer Partners LP grew its position in PACS Group by 191.2% during the third quarter. Zimmer Partners LP now owns 2,329,529 shares of the company’s stock valued at $93,111,000 after purchasing an additional 1,529,529 shares in the last quarter. Finally, FMR LLC increased its stake in PACS Group by 174.4% in the 3rd 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.

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.