PACS Group (NYSE:PACS) Shares Down 4.2% – What’s Next?

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Zacks Research downgraded PACS Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 9th. Oppenheimer increased their target price on PACS Group from $48.00 to $57.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Royal Bank Of Canada raised their target price on shares of PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Weiss Ratings lowered shares of PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Finally, UBS Group increased their price objective on shares of PACS Group from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $58.80.

PACS Group Trading Down 1.4%

The company has a market cap of $6.60 billion, a P/E ratio of 24.23, a PEG ratio of 1.32 and a beta of -0.13. The business has a 50 day moving average price of $44.13 and a 200-day moving average price of $39.60. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21.

PACS Group (NYSE:PACS) last issued its earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.41 billion. Analysts forecast that PACS Group, Inc. will post 2.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Joshua Jergensen sold 40,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $45.59, for a total transaction of $1,823,600.00. Following the sale, the chief operating officer owned 2,536,320 shares in the company, valued at approximately $115,630,828.80. This trade represents a 1.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Hancock sold 155,682 shares of PACS Group stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $42.47, for a total value of $6,611,814.54. Following the completion of the transaction, the director owned 53,518,884 shares in the company, valued at approximately $2,272,947,003.48. The trade was a 0.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 1,077,887 shares of company stock valued at $47,439,276. 70.10% of the stock is owned by company insiders.

Institutional Trading of PACS Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Financial Management Professionals Inc. increased its holdings in PACS Group by 54.9% in the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock worth $28,000 after purchasing an additional 235 shares in the last quarter. KBC Group NV acquired a new stake in PACS Group in the first quarter valued at $42,000. Western Wealth Management LLC acquired a new position in PACS Group during the 1st quarter worth about $48,000. Integrated Wealth Concepts LLC acquired a new stake in shares of PACS Group in the second quarter valued at about $75,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in PACS Group in the fourth quarter valued at approximately $89,000.

About PACS Group

PACS Group, Inc is a healthcare services company that operates skilled nursing and other post-acute care facilities in the United States. Its facilities provide services for patients who require medical care, rehabilitation, recovery support, or assistance with daily activities following hospitalization or other acute health events.

The company’s services generally include skilled nursing, physical and occupational therapy, speech therapy, long-term care, short-term rehabilitation, and other specialized post-acute programs.