PACS Group (NYSE:PACS) Shares Gap Down – Time to Sell?

PACS Group, Inc. (NYSE:PACS) shares gapped down before the market opened on Monday . The stock had previously closed at $42.94, but opened at $41.37. PACS Group shares last traded at $42.74, with a volume of 97,844 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have commented on PACS shares. Truist Financial lifted their price objective on shares of PACS Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $40.00 price objective on shares of PACS Group in a research note on Wednesday. UBS Group started coverage on PACS Group in a research report on Wednesday, October 9th. They issued a “buy” rating and a $50.00 price target for the company. Stephens increased their price target on shares of PACS Group from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Finally, Citigroup began coverage on shares of PACS Group in a research note on Wednesday, September 11th. They set a “buy” rating and a $45.00 price objective for the company. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $41.00.

PACS Group Stock Performance

The business’s 50 day moving average price is $39.71 and its two-hundred day moving average price is $33.97. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71.

PACS Group (NYSE:PACS) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.35 by ($0.42). The company had revenue of $981.80 million for the quarter, compared to the consensus estimate of $919.22 million. The company’s quarterly revenue was up 29.1% compared to the same quarter last year. Research analysts expect that PACS Group, Inc. will post 1.03 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Davidson Kempner Capital Management LP purchased a new position in PACS Group in the second quarter worth about $4,425,000. Bank of New York Mellon Corp purchased a new stake in PACS Group during the second quarter valued at approximately $2,445,000. Allspring Global Investments Holdings LLC bought a new position in PACS Group in the second quarter worth approximately $7,513,000. Seven Grand Managers LLC raised its position in PACS Group by 100.0% in the third quarter. Seven Grand Managers LLC now owns 150,000 shares of the company’s stock worth $5,996,000 after acquiring an additional 75,000 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of PACS Group during the 3rd quarter worth $548,000.

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.