PACS Group (NYSE:PACS) Shares Down 6.4% – Should You Sell?

PACS Group, Inc. (NYSE:PACS)’s stock price fell 6.4% during trading on Tuesday . The stock traded as low as $45.22 and last traded at $45.3250. Approximately 480,062 shares were traded during mid-day trading, a decline of 49% from the average session volume of 942,870 shares. The stock had previously closed at $48.45.

Analyst Upgrades and Downgrades

PACS has been the topic of several analyst reports. Weiss Ratings cut PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada boosted their target price on PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Truist Financial upped their price target on PACS Group from $52.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. UBS Group increased their price target on PACS Group from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Oppenheimer increased their price target on PACS Group from $48.00 to $57.00 and gave the company an “outperform” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $56.00.

PACS Group Stock Performance

The stock’s 50-day simple moving average is $42.34 and its 200 day simple moving average is $38.06. 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 has a market capitalization of $7.35 billion, a PE ratio of 26.77, a P/E/G ratio of 1.27 and a beta of -0.08.

PACS Group (NYSE:PACS) last released 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. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.41 billion. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. As a group, research analysts expect that PACS Group, Inc. will post 2.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PACS Group news, Director Mark Hancock sold 4,966 shares of PACS Group stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $45.06, for a total transaction of $223,767.96. Following the completion of the sale, the director directly owned 53,920,512 shares of the company’s stock, valued at $2,429,658,270.72. The trade was a 0.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michelle Renee Lewis sold 4,137 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $45.04, for a total value of $186,330.48. Following the transaction, the chief accounting officer directly owned 355,338 shares of the company’s stock, valued at approximately $16,004,423.52. This represents a 1.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 796,524 shares of company stock worth $31,611,396. 70.10% of the stock is owned by insiders.

Hedge Funds Weigh In On PACS Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp purchased a new position in PACS Group in the second quarter valued at approximately $8,196,000. Handelsbanken Fonder AB purchased a new stake in shares of PACS Group during the 2nd quarter worth approximately $567,000. Financial Management Professionals Inc. lifted its position in shares of PACS Group by 54.9% during the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock worth $28,000 after buying an additional 235 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of PACS Group in the 1st quarter valued at $278,000. Finally, Western Wealth Management LLC acquired a new position in shares of PACS Group in the 1st quarter valued at $48,000.

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.