PACS Group (NYSE:PACS) Issues Quarterly Earnings Results

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

PACS Group Price Performance

PACS Group stock traded down $1.53 during midday trading on Monday, reaching $32.06. The company had a trading volume of 1,004,663 shares, compared to its average volume of 910,436. The company has a market capitalization of $5.04 billion, a P/E ratio of 26.06, a P/E/G ratio of 1.02 and a beta of -0.03. PACS Group has a 12-month low of $7.50 and a 12-month high of $43.08. The firm’s fifty day simple moving average is $34.37 and its 200-day simple moving average is $31.74. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.07 and a quick ratio of 1.07.

Insiders Place Their Bets

In related news, COO Joshua Jergensen sold 36,335 shares of the firm’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 transaction, the chief operating officer directly owned 2,667,347 shares of the company’s stock, valued at approximately $91,436,655.16. This trade represents a 1.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 70.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PACS. Hollencrest Capital Management purchased a new position in PACS Group in the 4th quarter valued at about $27,000. Quarry LP lifted its stake in PACS Group by 79.5% in the 3rd quarter. Quarry LP now owns 2,388 shares of the company’s stock valued at $33,000 after buying an additional 1,058 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in PACS Group in the 1st quarter valued at about $64,000. Tower Research Capital LLC TRC lifted its stake in PACS Group by 289.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,166 shares of the company’s stock valued at $80,000 after buying an additional 4,581 shares in the last quarter. Finally, Caxton Associates LLP purchased a new position in PACS Group in the 1st quarter valued at about $163,000.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PACS shares. UBS Group raised their target price on PACS Group from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Zacks Research upgraded PACS Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 4th. Wall Street Zen upgraded PACS Group from a “hold” rating to a “buy” rating in a research report on Sunday. Royal Bank Of Canada raised their target price on PACS Group from $47.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of PACS Group in a research report on Friday, March 27th. One equities 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 company’s stock. Based on data from MarketBeat, PACS Group presently has a consensus rating of “Buy” and a consensus price target of $44.40.

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.