PACS Group (NYSE:PACS) Hits New 1-Year Low – Time to Sell?

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on PACS shares. Macquarie lowered their target price on PACS Group from $42.00 to $24.00 and set an “outperform” rating for the company in a 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 report on Tuesday, December 17th. Truist Financial decreased their price objective on PACS Group from $46.00 to $32.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Stephens decreased their price objective on PACS Group from $48.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, November 18th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

PACS Group Stock Down 1.7 %

The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71. The stock has a 50 day moving average of $13.54 and a 200-day moving average of $23.73.

Hedge Funds Weigh In On PACS Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank raised its stake in PACS Group by 56.7% in the 3rd quarter. Amalgamated Bank now owns 1,349 shares of the company’s stock worth $54,000 after acquiring an additional 488 shares during the last quarter. Crewe Advisors LLC acquired a new stake in PACS Group during the 3rd quarter worth about $66,000. State of Wyoming acquired a new stake in PACS Group during the 4th quarter worth about $47,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in PACS Group during the 3rd quarter worth about $251,000. Finally, US Bancorp DE grew its position in 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 period.

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.