PACS - Takeaways From Management Meetings, Reiterate Buy

研报英文原文证据摘录

PACS - Takeaways From Management Meetings, Reiterate Buy

o Target 43.3% Further enhancing PACS' positioning is technology and reporting/analytics capabilities

Price (Jun. 12, 2026) $36.28 through PACS services where PACS' corporate and local leaders have real time dashboards

52-Wk Range $42.13-$7.71 providing visibility into clinical and operational metrics to benchmark facilities and identify

Market Cap ($M) 5,877 areas for improvement which we expect to continue to aid quality/outcomes and the

integration of new facilities. From a cost perspective, skilled nursing facilities boast attractive ADTV 579,421

cost per day relative to other facility-based post-acute settings and acute care which we Shares Out (M) 162 view as an attractive selling point to both patients and payers alike in an increasingly cost-

Short Interest Ratio/% Of Float 9.4% conscious environment. Alongside sector tailwinds, we continue to see strong embedded

Enterprise Value ($M) 5,922 earnings potential given the sizable cohort (~41% as of the end of 1Q) of new and ramping

Cash & Equivalents ($M) 248 facilities, and PACS maintains a strong track record driving attractive operational, clinical

Total Debt ($M) 293 and financial improvement as clinics mature (12% occupancy improvement, 7% skilled mix

improvement, +21% revenue PPD - all as of 3/31). Finally, we continue to view steps taken

around compliance/infrastructure over the last year+ as further improving PACS' footing, and 6 Page Document

look for ongoing growth/margin execution supported by attractive clinical capabilities/scale.

Comments On Labor Management And Strong Operational Metrics. Labor commentary

Reasons for this report was largely constructive as PACS is seeing labor inflation in the 3% - 4% range, turnover