PACS Group (NYSE:PACS) Hits New 1-Year Low – Time to Sell?

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PACS shares. Stephens reduced their price objective 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. Oppenheimer upped 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. 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 price objective on the stock. JPMorgan Chase & Co. restated an “overweight” rating and issued a $40.00 target price on shares of PACS Group in a research report on Wednesday, November 6th. Finally, Truist Financial raised their price target on shares of PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $39.88.

PACS Group Stock Performance

The business’s 50-day simple moving average is $32.99 and its 200 day simple moving average is $33.19. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71.

Institutional Investors Weigh In On PACS Group

Institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in shares of PACS Group by 60.5% during the 3rd quarter. Wellington Management Group LLP now owns 5,376,551 shares of the company’s stock valued at $214,901,000 after purchasing an additional 2,025,835 shares during the period. Zimmer Partners LP grew its holdings 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 period. FMR LLC raised its position in PACS Group by 174.4% in the third quarter. FMR LLC now owns 1,641,651 shares of the company’s stock worth $65,617,000 after acquiring an additional 1,043,399 shares in the last quarter. Geode Capital Management LLC raised its position in PACS Group by 65.2% in the third quarter. Geode Capital Management LLC now owns 834,440 shares of the company’s stock worth $33,359,000 after acquiring an additional 329,288 shares in the last quarter. Finally, State Street Corp lifted its holdings in PACS Group by 119.5% in the 3rd quarter. State Street Corp now owns 754,221 shares of the company’s stock valued at $30,146,000 after acquiring an additional 410,606 shares during 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.