PACS Group (NYSE:PACS) Announces Quarterly Earnings Results

PACS Group (NYSE:PACS) released its quarterly earnings results on Monday. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.08, FiscalAI reports. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.36 billion. PACS Group had a return on equity of 22.55% and a net margin of 3.62%.

PACS Group Trading Up 12.7%

Shares of PACS opened at $37.84 on Tuesday. PACS Group has a twelve month low of $7.50 and a twelve month high of $43.08. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36. The stock’s fifty day simple moving average is $34.07 and its 200 day simple moving average is $32.03. The firm has a market capitalization of $5.95 billion, a P/E ratio of 26.06, a price-to-earnings-growth ratio of 1.02 and a beta of -0.03.

Insider Transactions at PACS Group

In related news, COO Joshua Jergensen sold 36,335 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $34.28, for a total value of $1,245,563.80. Following the completion of the sale, the chief operating officer owned 2,667,347 shares of the company’s stock, valued at $91,436,655.16. This represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 70.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On PACS Group

A number of institutional investors have recently bought and sold shares of the stock. Hollencrest Capital Management acquired a new stake in shares of PACS Group in the fourth quarter worth $27,000. Quarry LP boosted its holdings in PACS Group by 79.5% during the third quarter. Quarry LP now owns 2,388 shares of the company’s stock valued at $33,000 after acquiring an additional 1,058 shares during the period. Commerce Bank acquired a new stake in PACS Group in the 4th quarter valued at approximately $207,000. Rothschild Wealth LLC bought a new position in PACS Group during the fourth quarter worth $213,000. Finally, Jones Financial Companies Lllp acquired a new position in shares of PACS Group during the first quarter valued at about $64,000.

Analyst Ratings Changes

Several brokerages have recently issued reports on PACS. Wall Street Zen upgraded PACS Group from a “hold” rating to a “buy” rating in a research note on Sunday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PACS Group in a report on Friday, March 27th. UBS Group lifted their price target on PACS Group from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Oppenheimer raised their price objective on PACS Group from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, March 4th. Finally, Royal Bank Of Canada upped their target price on PACS Group from $47.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $44.40.

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.