Peterson Wealth Services Lowers Holdings in PACS Group, Inc. $PACS

Peterson Wealth Services lessened its stake in PACS Group, Inc. (NYSE:PACS) by 37.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,818 shares of the company’s stock after selling 31,210 shares during the quarter. Peterson Wealth Services’ holdings in PACS Group were worth $2,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Quarry LP raised its position in shares of PACS Group by 79.5% in the 3rd quarter. Quarry LP now owns 2,388 shares of the company’s stock worth $33,000 after purchasing an additional 1,058 shares during the last quarter. Larson Financial Group LLC raised its position in shares of PACS Group by 127.0% in the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $42,000 after purchasing an additional 612 shares during the last quarter. Strategic Advocates LLC purchased a new position in shares of PACS Group in the 3rd quarter worth about $60,000. Jones Financial Companies Lllp purchased a new position in shares of PACS Group in the 1st quarter worth about $64,000. Finally, Physician Wealth Advisors Inc. purchased a new position in shares of PACS Group in the 4th quarter worth about $74,000.

Insider Activity at PACS Group

In other news, insider John Todd Mitchell sold 27,389 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $37.16, for a total transaction of $1,017,775.24. Following the completion of the sale, the insider owned 803,566 shares of the company’s stock, valued at $29,860,512.56. This represents a 3.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 70.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. UBS Group boosted their target price on PACS Group from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of PACS Group in a research note on Friday, March 27th. Oppenheimer lifted their price target on shares of PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Zacks Research lowered shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Finally, Royal Bank Of Canada lifted their target price on shares of PACS Group from $47.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $48.00.

PACS Group Trading Up 1.5%

NYSE:PACS opened at $34.83 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27. PACS Group, Inc. has a 12 month low of $7.50 and a 12 month high of $43.08. The company has a market cap of $5.51 billion and a PE ratio of 22.33. The company has a 50 day simple moving average of $35.49 and a two-hundred day simple moving average of $35.83.

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

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.