PACS Group (NYSE:PACS) CAO Michelle Renee Lewis Sells 4,200 Shares

PACS Group, Inc. (NYSE:PACS) CAO Michelle Renee Lewis sold 4,200 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $45.01, for a total value of $189,042.00. Following the transaction, the chief accounting officer owned 366,138 shares in the company, valued at approximately $16,479,871.38. This trade represents a 1.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michelle Renee Lewis also recently made the following trade(s):

• On Monday, July 6th, Michelle Renee Lewis sold 4,137 shares of PACS Group stock. The stock was sold at an average price of $45.04, for a total transaction of $186,330.48.
• On Thursday, July 2nd, Michelle Renee Lewis sold 6,663 shares of PACS Group stock. The shares were sold at an average price of $45.03, for a total value of $300,034.89.
• On Thursday, June 25th, Michelle Renee Lewis sold 15,000 shares of PACS Group stock. The stock was sold at an average price of $40.01, for a total value of $600,150.00.

PACS Group Price Performance

NYSE:PACS traded up $0.20 on Monday, hitting $44.68. The company had a trading volume of 1,312,827 shares, compared to its average volume of 948,595. PACS Group, Inc. has a 52 week low of $7.50 and a 52 week high of $45.89. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $7.07 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 1.33 and a beta of -0.08. The firm has a 50 day moving average of $37.20 and a two-hundred day moving average of $36.64.

PACS Group (NYSE:PACS) last released its quarterly earnings results on Monday, May 11th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.08. PACS Group had a return on equity of 26.47% and a net margin of 4.49%.The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.36 billion. On average, research analysts anticipate that PACS Group, Inc. will post 2.23 earnings per share for the current year.

Hedge Funds Weigh In On PACS Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Empowered Funds LLC purchased a new stake in PACS Group in the 1st quarter worth about $278,000. Western Wealth Management LLC bought a new position in PACS Group during the first quarter worth about $48,000. Smith Group Asset Management LLC purchased a new position in shares of PACS Group in the first quarter worth about $771,000. EverSource Wealth Advisors LLC increased its stake in shares of PACS Group by 745.4% in the first quarter. EverSource Wealth Advisors LLC now owns 5,064 shares of the company’s stock worth $163,000 after purchasing an additional 4,465 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in shares of PACS Group by 22.4% in the first quarter. California State Teachers Retirement System now owns 56,414 shares of the company’s stock valued at $1,812,000 after purchasing an additional 10,314 shares during the period.

Analyst Upgrades and Downgrades

PACS has been the subject of a number of research analyst reports. Zacks Research downgraded PACS Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PACS Group in a research report on Wednesday, June 24th. Oppenheimer boosted their target price on shares of PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Wall Street Zen raised shares of PACS Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 15th. Finally, Truist Financial lifted their price target on shares of PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

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.