PACS Group (NYSE:PACS) Sets New 12-Month Low – Here’s What Happened

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PACS. Stephens lowered their price target on PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Truist Financial upped their target price on PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a report on Monday, October 14th. JPMorgan Chase & Co. restated an “overweight” rating and set a $40.00 price target on shares of PACS Group in a report on Wednesday, November 6th. Oppenheimer upped their price objective on shares of PACS Group from $32.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Finally, UBS Group initiated coverage on shares of PACS Group in a research note on Wednesday, October 9th. They set a “buy” rating and a $50.00 target price for the company. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $39.88.

PACS Group Trading Down 1.7 %

The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71. The company’s 50 day moving average price is $34.45 and its 200 day moving average price is $33.43.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Lisanti Capital Growth LLC bought a new stake in shares of PACS Group during the 3rd quarter worth $4,259,000. GSA Capital Partners LLP acquired a new stake in shares of PACS Group during the 3rd quarter worth approximately $1,229,000. Davidson Kempner Capital Management LP acquired a new stake in PACS Group during the second quarter worth $4,425,000. Bank of New York Mellon Corp bought a new stake in PACS Group in the second quarter valued at about $2,445,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of PACS Group in the 2nd quarter worth approximately $7,513,000.

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.