PACS Group, Inc. (NYSE:PACS) Stake Boosted by Whittier Trust Co.

Whittier Trust Co. grew its stake in shares of PACS Group, Inc. (NYSE:PACS) by 152.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,382 shares of the company’s stock after purchasing an additional 834 shares during the quarter. Whittier Trust Co.’s holdings in PACS Group were worth $55,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Deerfield Management Company L.P. Series C bought a new position in shares of PACS Group during the second quarter valued at approximately $19,584,000. Allspring Global Investments Holdings LLC grew its holdings in shares of PACS Group by 48.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 378,325 shares of the company’s stock valued at $15,122,000 after purchasing an additional 123,654 shares during the last quarter. Lighthouse Investment Partners LLC bought a new position in shares of PACS Group during the second quarter valued at approximately $8,946,000. Millennium Management LLC bought a new position in shares of PACS Group during the second quarter valued at approximately $8,905,000. Finally, Ghisallo Capital Management LLC bought a new position in shares of PACS Group during the second quarter valued at approximately $8,850,000.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PACS shares. Stephens increased their price objective on PACS Group from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. UBS Group started coverage on PACS Group in a report on Wednesday, October 9th. They issued a “buy” rating and a $50.00 price objective for the company. Citigroup started coverage on PACS Group in a report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 price objective for the company. Truist Financial increased their price objective on PACS Group from $44.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Macquarie started coverage on PACS Group in a report on Friday, June 28th. They issued an “outperform” rating and a $35.00 price objective for the company. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $39.38.

PACS Group Stock Down 0.2 %

Shares of NYSE PACS opened at $41.90 on Friday. The firm’s fifty day moving average price is $39.82. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71. PACS Group, Inc. has a 1 year low of $22.61 and a 1 year high of $43.23.

PACS Group (NYSE:PACS) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.42). The business had revenue of $981.80 million during the quarter, compared to analysts’ expectations of $919.22 million. PACS Group’s revenue for the quarter was up 29.1% compared to the same quarter last year. On average, research analysts expect that PACS Group, Inc. will post 1.03 earnings per share for the current year.

PACS Group 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.