PACS Group (NYSE:PACS) Stock Falls 4.2% – Here’s What Happened

PACS Group, Inc. (NYSE:PACS) fell 4.2% on Tuesday. The company traded as low as $41.51 and last traded at $41.2480. Approximately 139,879 shares were traded during trading, a decline of 84% from the average session volume of 896,251 shares. The stock had previously closed at $43.06.

Analyst Upgrades and Downgrades

PACS has been the subject of several research analyst reports. Zacks Research cut PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 9th. Weiss Ratings lowered shares of PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Royal Bank Of Canada upped their target price on shares of PACS Group from $52.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Wall Street Zen downgraded PACS Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, UBS Group boosted their price objective on PACS Group from $57.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $58.80.

PACS Group Price Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 0.91. The company’s fifty day moving average price is $44.26 and its 200 day moving average price is $39.49. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of 24.08, a price-to-earnings-growth ratio of 1.29 and a beta of -0.13.

PACS Group (NYSE:PACS) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.09. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.41 billion. Equities research analysts expect that PACS Group, Inc. will post 2.13 earnings per share for the current year.

Insider Activity at PACS Group

In related news, Director Mark Hancock sold 155,682 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $42.47, for a total transaction of $6,611,814.54. Following the completion of the transaction, the director directly owned 53,518,884 shares in the company, valued at $2,272,947,003.48. This represents a 0.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jason Murray sold 91,306 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $43.92, for a total value of $4,010,159.52. Following the completion of the sale, the chief executive officer directly owned 54,754,110 shares in the company, valued at $2,404,800,511.20. This represents a 0.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,107,655 shares of company stock worth $48,779,328 in the last 90 days. 70.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Financial Management Professionals Inc. increased its stake in shares of PACS Group by 54.9% in the second quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock valued at $28,000 after purchasing an additional 235 shares during the period. KBC Group NV acquired a new position in shares of PACS Group during the first quarter worth approximately $42,000. Western Wealth Management LLC acquired a new position in shares of PACS Group during the first quarter worth approximately $48,000. Integrated Wealth Concepts LLC acquired a new position in shares of PACS Group during the second quarter worth approximately $75,000. Finally, Nykredit A S bought a new position in PACS Group in the 2nd quarter worth approximately $95,000.

About PACS Group

PACS Group, Inc is a U.S. healthcare services company that operates skilled nursing and post-acute care facilities. Its facilities provide short-term rehabilitation, long-term skilled nursing, nursing care, and related clinical services for patients recovering from illness, injury, surgery, or hospitalization.

The company’s broader care offerings may include assisted living, memory care, behavioral health, and other specialized post-acute services, depending on the facility and market.