Insider Selling: PACS Group (NYSE:PACS) Insider Sells $1,017,775.24 in Stock

PACS Group, Inc. (NYSE:PACS) insider John Todd Mitchell sold 27,389 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $37.16, for a total value of $1,017,775.24. Following the transaction, the insider directly owned 803,566 shares in the company, valued at $29,860,512.56. The trade was a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 Trading Up 1.9%

Shares of PACS Group stock opened at $37.72 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.99 and a quick ratio of 0.99. The business has a fifty day simple moving average of $34.51 and a two-hundred day simple moving average of $33.50. PACS Group, Inc. has a 1 year low of $7.50 and a 1 year high of $43.08. The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of 24.18, a P/E/G ratio of 1.13 and a beta of -0.03.

PACS Group (NYSE:PACS) last released its quarterly earnings data on Monday, May 11th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.42 by $0.08. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.36 billion. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. Research analysts forecast that PACS Group, Inc. will post 2.19 EPS for the current year.

Analysts Set New Price Targets

PACS has been the subject of several research reports. Truist Financial raised their price objective on shares of PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday. Oppenheimer lifted their price target on PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Wall Street Zen raised PACS Group from a “hold” rating to a “buy” rating in a report on Sunday, May 10th. Zacks Research cut PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of PACS Group in a report on Friday, March 27th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.00.

Institutional Investors Weigh In On PACS Group

Institutional investors have recently made changes to their positions in the stock. Western Wealth Management LLC bought a new position in PACS Group during the 1st quarter worth $48,000. Smith Group Asset Management LLC acquired a new position in PACS Group in the 1st quarter valued at $771,000. EverSource Wealth Advisors LLC lifted its position in shares of PACS Group by 745.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,064 shares of the company’s stock valued at $163,000 after acquiring an additional 4,465 shares during the period. California State Teachers Retirement System lifted its position in shares of PACS Group by 22.4% during the 1st quarter. California State Teachers Retirement System now owns 56,414 shares of the company’s stock valued at $1,812,000 after acquiring an additional 10,314 shares during the period. Finally, Empowered Funds LLC acquired a new stake in shares of PACS Group during the 1st quarter worth $278,000.

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.