PACS Group (NYSE:PACS) Price Target Raised to $44.00 at Truist Financial

PACS Group (NYSE:PACS) had its target price hoisted by Truist Financial from $36.00 to $44.00 in a report released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the company. Citigroup increased their price target on PACS Group from $34.00 to $41.00 and gave the company a buy rating in a research note on Tuesday, August 13th. Oppenheimer raised their price objective on PACS Group from $32.00 to $40.00 and gave the stock an outperform rating in a research note on Tuesday, August 13th. Macquarie started coverage on PACS Group in a research note on Friday, June 28th. They set an outperform rating and a $35.00 price objective on the stock. Royal Bank of Canada raised their price objective on PACS Group from $30.00 to $32.00 and gave the stock an outperform rating in a research note on Wednesday, May 15th. Finally, JPMorgan Chase & Co. started coverage on PACS Group in a research note on Monday, May 6th. They set an overweight rating and a $27.00 price objective on the stock. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of Buy and an average price target of $37.00.

PACS Group Price Performance

PACS stock opened at $38.79 on Thursday. The company has a fifty day moving average of $32.14. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.56 and a current ratio of 1.71. PACS Group has a twelve month low of $22.61 and a twelve month high of $40.32.

PACS Group (NYSE:PACS) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.42). The firm had revenue of $981.80 million during the quarter, compared to the consensus estimate of $919.22 million. The business’s quarterly revenue was up 29.1% on a year-over-year basis. On average, equities research analysts forecast that PACS Group will post 1.27 EPS for the current year.

Hedge Funds Weigh In On PACS Group

A number of large investors have recently added to or reduced their stakes in the company. Lighthouse Investment Partners LLC bought a new position in PACS Group during the 2nd quarter worth about $8,946,000. The Manufacturers Life Insurance Company bought a new position in PACS Group during the 2nd quarter worth about $302,000. Millennium Management LLC bought a new position in PACS Group during the 2nd quarter worth about $8,905,000. Deerfield Management Company L.P. Series C bought a new position in shares of PACS Group in the 2nd quarter valued at about $19,584,000. Finally, Squarepoint Ops LLC bought a new position in shares of PACS Group in the 2nd quarter valued at about $3,510,000.

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.