PACS Group (NYSE:PACS) Stock: Insider Michelle Renee Lewis Sells 9,464 Shares

PACS Group, Inc. (NYSE:PACS) CAO Michelle Lewis sold 9,464 shares of PACS Group stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $50.12, for a total transaction of $474,335.68. Following the transaction, the chief accounting officer owned 345,874 shares of the company’s stock, valued at approximately $17,335,204.88. The trade was a 2.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, October 29th, Michelle Lewis sold 2,364 shares of PACS Group stock. The shares were sold at an average price of $50.04, for a total transaction of $118,294.56.

PACS Group Price Performance

Shares of PACS stock traded down $1.92 during trading hours on Friday, hitting $47.76. The company’s stock had a trading volume of 591,191 shares, compared to its average volume of 824,846. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average of $44.21 and a 200-day moving average of $39.79. PACS Group, Inc. has a twelve month low of $10.31 and a twelve month high of $50.38. The stock has a market cap of $7.56 billion, a price-to-earnings ratio of 26.43, a P/E/G ratio of 1.55 and a beta of -0.08.

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

Hedge Funds Weigh In On PACS Group

Institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in PACS Group by 370.2% during the first quarter. Dimensional Fund Advisors LP now owns 780,159 shares of the company’s stock worth $25,051,000 after acquiring an additional 614,250 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in PACS Group in the 2nd quarter valued at $8,196,000. Principal Financial Group Inc. acquired a new position in PACS Group in the 1st quarter valued at $3,171,000. Arrowstreet Capital Limited Partnership raised its holdings in PACS Group by 44.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 288,718 shares of the company’s stock valued at $9,274,000 after acquiring an additional 89,067 shares during the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. purchased a new position in shares of PACS Group during the 3rd quarter worth $1,920,000.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PACS. Wall Street Zen cut PACS Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. UBS Group increased their price objective on PACS Group from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Truist Financial set a $62.00 price objective on PACS Group in a research note on Wednesday, September 2nd. Oppenheimer lifted their price objective on PACS Group from $48.00 to $57.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Finally, Weiss Ratings raised shares of PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $58.80.

PACS Group Company Profile

PACS Group, Inc is a U.S.-based healthcare services company that owns and operates post-acute care facilities. Its platform focuses primarily on skilled nursing and transitional care, serving patients who require rehabilitation, recovery support, long-term care, and other services following hospitalization or acute medical treatment.

The company’s operations also include assisted living, independent living, and behavioral health services in select locations. Through its facilities and related healthcare capabilities, PACS Group provides services such as nursing care, physical and occupational therapy, speech therapy, medical treatment, and support for patients with complex or extended care needs.

Founded in 2013 and headquartered in Farmington, Utah, PACS Group serves communities across multiple U.S.