Zimmer Partners LP Raises Holdings in PACS Group, Inc. (NYSE:PACS)

Zimmer Partners LP grew its position in shares of PACS Group, Inc. (NYSE:PACS) by 191.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,329,529 shares of the company’s stock after purchasing an additional 1,529,529 shares during the quarter. PACS Group makes up about 1.7% of Zimmer Partners LP’s holdings, making the stock its 17th largest position. Zimmer Partners LP’s holdings in PACS Group were worth $93,111,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PACS. Amalgamated Bank purchased a new position in PACS Group during the 2nd quarter worth approximately $25,000. Whittier Trust Co. grew its position in shares of PACS Group by 152.2% during the third quarter. Whittier Trust Co. now owns 1,382 shares of the company’s stock worth $55,000 after acquiring an additional 834 shares during the last quarter. Crewe Advisors LLC purchased a new position in shares of PACS Group during the third quarter worth approximately $66,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in PACS Group during the 3rd quarter worth $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 last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PACS shares. JPMorgan Chase & Co. reissued an “overweight” rating and set a $40.00 price target on shares of PACS Group in a report on Wednesday, November 6th. UBS Group started coverage on PACS Group in a research note on Wednesday, October 9th. They issued a “buy” rating and a $50.00 target price on the stock. Stephens lowered their target price on PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Truist Financial lifted their price objective on shares of PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Citigroup started coverage on shares of PACS Group in a research report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 price objective on the stock. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, PACS Group has an average rating of “Buy” and a consensus price target of $39.88.

PACS Group Stock Up 6.1 %

Shares of NYSE PACS opened at $15.51 on Friday. PACS Group, Inc. has a one year low of $14.43 and a one year high of $43.92. The company’s fifty day moving average is $29.52 and its two-hundred day moving average is $32.56. 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 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.