John Todd Mitchell Sells 27,389 Shares of PACS Group (NYSE:PACS) Stock

PACS Group, Inc. (NYSE:PACS) insider John Todd Mitchell sold 27,389 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $37.16, for a total value of $1,017,775.24. Following the completion of the transaction, the insider owned 803,566 shares of the company’s stock, valued at approximately $29,860,512.56. This represents a 3.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

John Todd Mitchell also recently made the following trade(s):

• On Friday, May 15th, John Todd Mitchell sold 52,763 shares of PACS Group stock. The shares were sold at an average price of $38.02, for a total value of $2,006,049.26.

PACS Group Price Performance

Shares of PACS stock traded up $0.01 during mid-day trading on Tuesday, reaching $36.82. The stock had a trading volume of 951,411 shares, compared to its average volume of 951,625. PACS Group, Inc. has a 12-month low of $7.50 and a 12-month high of $43.08. The company has a market cap of $5.83 billion, a P/E ratio of 23.60, a price-to-earnings-growth ratio of 1.14 and a beta of -0.03. The business has a 50-day simple moving average of $34.33 and a 200 day simple moving average of $32.97. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27.

PACS Group (NYSE:PACS) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. PACS Group had a return on equity of 26.47% and a net margin of 4.49%.The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.36 billion. On average, sell-side analysts anticipate that PACS Group, Inc. will post 2.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

PACS has been the subject of a number of research analyst reports. Wall Street Zen upgraded PACS Group from a “hold” rating to a “buy” rating in a research report on Sunday, May 10th. Truist Financial increased their price objective on PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday. Oppenheimer increased their price objective on PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Royal Bank Of Canada increased their price objective on PACS Group from $47.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Finally, UBS Group increased their price objective on PACS Group from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $48.00.

Institutional Trading of PACS Group

A number of institutional investors and hedge funds have recently made changes to their positions in PACS. Cubist Systematic Strategies LLC purchased a new position in shares of PACS Group in the 1st quarter worth $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of PACS Group by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the company’s stock worth $262,000 after buying an additional 1,443 shares during the period. Millennium Management LLC raised its position in shares of PACS Group by 68.3% in the 1st quarter. Millennium Management LLC now owns 859,295 shares of the company’s stock worth $9,658,000 after buying an additional 348,743 shares during the period. Jones Financial Companies Lllp purchased a new position in shares of PACS Group in the 1st quarter worth $64,000. Finally, Caxton Associates LLP purchased a new position in shares of PACS Group in the 1st quarter worth $163,000.

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.