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

PACS Group, Inc. (NYSE:PACS)’s share price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $12.37 and last traded at $12.67, with a volume of 6144 shares trading hands. The stock had previously closed at $12.60.

Analysts Set New Price Targets

A number of research firms have weighed in on PACS. Stephens cut their target price 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. Truist Financial reduced their target price on shares of PACS Group from $46.00 to $32.00 and set a “buy” rating for the company in a report on Monday, January 6th. Macquarie dropped their price target on PACS Group from $42.00 to $24.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $18.00 price objective on shares of PACS Group in a research note on Tuesday, December 17th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $34.00.

PACS Group Stock Down 0.1 %

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 company has a 50-day moving average price of $13.58 and a 200 day moving average price of $24.02.

Hedge Funds Weigh In On PACS Group

A number of large investors have recently made changes to their positions in the business. Amalgamated Bank grew its stake in PACS Group by 56.7% in the third quarter. Amalgamated Bank now owns 1,349 shares of the company’s stock valued at $54,000 after purchasing an additional 488 shares in the last quarter. Crewe Advisors LLC acquired a new position in PACS Group in the third quarter worth approximately $66,000. State of Wyoming acquired a new stake in PACS Group in the fourth quarter valued at approximately $47,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in PACS Group in the third quarter worth approximately $251,000. Finally, US Bancorp DE increased its stake in shares of PACS Group by 56.2% during the 3rd quarter. US Bancorp DE now owns 6,681 shares of the company’s stock worth $267,000 after purchasing an additional 2,404 shares during 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.