Macquarie Initiates Coverage on PACS Group (NYSE:PACS)

Analysts at Macquarie started coverage on shares of PACS Group (NYSE:PACS) in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $35.00 price target on the stock. Macquarie’s price target points to a potential upside of 18.64% from the company’s previous close.

Several other research analysts have also weighed in on PACS. Truist Financial restated a “buy” rating and set a $32.00 target price on shares of PACS Group in a research report on Wednesday, May 15th. Oppenheimer increased their price target on shares of PACS Group from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday, May 15th. Royal Bank of Canada increased their price target on shares of PACS Group from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday, May 15th. Citigroup started coverage on shares of PACS Group in a research report on Monday, May 6th. They issued a “buy” rating and a $32.00 price target on the stock. Finally, Stephens reiterated an “overweight” rating and issued a $31.00 price target on shares of PACS Group in a research report on Tuesday, May 14th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, PACS Group has an average rating of “Buy” and an average target price of $31.57.

PACS Group Price Performance

NYSE PACS opened at $29.50 on Friday. PACS Group has a 52-week low of $22.61 and a 52-week high of $31.76. The business’s 50-day moving average price is $27.84. The company has a debt-to-equity ratio of 5.75, a current ratio of 1.56 and a quick ratio of 1.56.

PACS Group (NYSE:PACS) last posted its quarterly earnings results on Monday, May 13th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.08. The firm had revenue of $934.72 million for the quarter, compared to analysts’ expectations of $893.07 million. On average, analysts predict that PACS Group will post 1.51 EPS for the current year.

Insiders Place Their Bets

In other PACS Group news, CEO Jason Hulse Murray sold 1,607,142 shares of PACS Group stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $21.00, for a total value of $33,749,982.00. Following the completion of the sale, the chief executive officer now directly owns 62,754,551 shares of the company’s stock, valued at approximately $1,317,845,571. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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.