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

PACS Group, Inc. (NYSE:PACS)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $10.61 and last traded at $10.83, with a volume of 615342 shares. The stock had previously closed at $11.24.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Macquarie cut their price objective on shares of PACS Group from $42.00 to $24.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Truist Financial reduced their price target 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. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $18.00 price objective on shares of PACS Group in a report on Tuesday, December 17th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PACS Group has an average rating of “Moderate Buy” and an average target price of $34.00.

PACS Group Stock Performance

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 has a 50 day moving average of $12.84 and a 200 day moving average of $20.75.

Hedge Funds Weigh In On PACS Group

Institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC boosted its holdings in shares of PACS Group by 651.3% in the third quarter. Barclays PLC now owns 63,366 shares of the company’s stock valued at $2,532,000 after buying an additional 54,932 shares during the period. Wellington Management Group LLP boosted its stake in PACS Group by 60.5% in the 3rd quarter. Wellington Management Group LLP now owns 5,376,551 shares of the company’s stock worth $214,901,000 after purchasing an additional 2,025,835 shares during the period. Soros Fund Management LLC increased its holdings in PACS Group by 233.3% during the 3rd quarter. Soros Fund Management LLC now owns 500,000 shares of the company’s stock worth $19,985,000 after purchasing an additional 350,000 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of PACS Group by 5.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,272,720 shares of the company’s stock valued at $50,871,000 after purchasing an additional 70,786 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of PACS Group by 78.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 327,005 shares of the company’s stock valued at $13,070,000 after purchasing an additional 143,389 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.