PACS Group (NYSE:PACS) Sets New 52-Week Low – What’s Next?

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 Ratings Changes

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

PACS Group Trading Down 1.0 %

The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.82. The business has a 50 day simple moving average of $13.64 and a 200-day simple moving average of $25.92.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Amalgamated Bank raised its holdings in shares of PACS Group by 56.7% during the third quarter. Amalgamated Bank now owns 1,349 shares of the company’s stock valued at $54,000 after buying an additional 488 shares during the last quarter. Crewe Advisors LLC bought a new stake in PACS Group during the 3rd quarter valued at $66,000. State of Wyoming acquired a new position in PACS Group during the 4th quarter worth $47,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in PACS Group during the 3rd quarter worth $251,000. Finally, US Bancorp DE grew its stake in shares of PACS Group by 56.2% in the third quarter. US Bancorp DE now owns 6,681 shares of the company’s stock worth $267,000 after purchasing an additional 2,404 shares in the last quarter.

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.