PACS Group (NYSE:PACS) COO Sells 40,000 Shares of Stock

PACS Group, Inc. (NYSE:PACS) COO Joshua Jergensen sold 40,000 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $45.59, for a total value of $1,823,600.00. Following the completion of the transaction, the chief operating officer owned 2,536,320 shares of the company’s stock, valued at $115,630,828.80. This trade represents a 1.55% decrease in their position. The sale was disclosed in a document filed 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.

PACS Group Stock Performance

Shares of NYSE PACS traded down $0.36 during mid-day trading on Friday, reaching $44.63. 698,422 shares of the company’s stock were exchanged, compared to its average volume of 938,342. The firm has a 50-day moving average price of $42.49 and a two-hundred day moving average price of $38.13. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $7.06 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 1.28 and a beta of -0.08. PACS Group, Inc. has a 52 week low of $7.50 and a 52 week high of $49.49.

PACS Group (NYSE:PACS) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.09. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.41 billion. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. Analysts predict that PACS Group, Inc. will post 2.36 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PACS. Financial Management Professionals Inc. grew its stake in PACS Group by 54.9% in the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock valued at $28,000 after buying an additional 235 shares in the last quarter. Jacobsen Capital Management boosted its holdings in shares of PACS Group by 1.6% in the first quarter. Jacobsen Capital Management now owns 18,128 shares of the company’s stock worth $582,000 after acquiring an additional 294 shares during the period. Larson Financial Group LLC boosted its holdings in shares of PACS Group by 127.0% in the fourth quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $42,000 after acquiring an additional 612 shares during the period. Hollencrest Capital Management purchased a new position in shares of PACS Group in the fourth quarter valued at $27,000. Finally, Strategic Advocates LLC raised its stake in shares of PACS Group by 18.5% during the 4th quarter. Strategic Advocates LLC now owns 5,182 shares of the company’s stock valued at $203,000 after purchasing an additional 808 shares during the period.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Weiss Ratings lowered PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Wall Street Zen lowered PACS Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. UBS Group increased their price target on PACS Group from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Oppenheimer lifted their price objective on PACS Group from $48.00 to $57.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Zacks Research upgraded PACS Group from a “hold” rating to a “strong-buy” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $56.00.

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.