PACS Group (NYSE:PACS) CAO Michelle Renee Lewis Sells 15,000 Shares

PACS Group, Inc. (NYSE:PACS) CAO Michelle Renee Lewis sold 15,000 shares of the stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $40.01, for a total value of $600,150.00. Following the sale, the chief accounting officer owned 370,338 shares of the company’s stock, valued at $14,817,223.38. This represents a 3.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PACS Group Price Performance

Shares of PACS Group stock traded up $1.11 on Friday, hitting $41.79. 1,918,410 shares of the company traded hands, compared to its average volume of 938,016. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $6.61 billion and a P/E ratio of 26.79. The business has a 50-day simple moving average of $36.26 and a 200 day simple moving average of $36.21. PACS Group, Inc. has a 52 week low of $7.50 and a 52 week high of $43.08.

PACS Group (NYSE:PACS) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.50 EPS for the quarter, topping 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 business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Research analysts expect that PACS Group, Inc. will post 2.23 earnings per share for the current fiscal year.

Institutional Trading of PACS Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Jacobsen Capital Management lifted its stake in PACS Group by 1.6% in the first quarter. Jacobsen Capital Management now owns 18,128 shares of the company’s stock worth $582,000 after acquiring an additional 294 shares during the period. Larson Financial Group LLC increased its position in PACS Group by 127.0% during the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $42,000 after purchasing an additional 612 shares during the period. Hollencrest Capital Management purchased a new position in PACS Group during the 4th quarter valued at about $27,000. Strategic Advocates LLC raised its holdings in shares of PACS Group by 18.5% in the 4th quarter. Strategic Advocates LLC now owns 5,182 shares of the company’s stock valued at $203,000 after purchasing an additional 808 shares in the last quarter. Finally, Peterson Wealth Services raised its holdings in shares of PACS Group by 1.6% in the 1st quarter. Peterson Wealth Services now owns 53,672 shares of the company’s stock valued at $1,724,000 after purchasing an additional 854 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have issued reports on PACS. Zacks Research downgraded PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Oppenheimer lifted their target price on PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Truist Financial lifted their target price on PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. UBS Group boosted their target price on shares of PACS Group from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Finally, Wall Street Zen raised shares of PACS Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 15th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $48.00.

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.