PACS Group (NYSE:PACS) Stock: Insider Michelle Renee Lewis Sells 2,364 Shares

PACS Group, Inc. (NYSE:PACS) CAO Michelle Lewis sold 2,364 shares of the firm’s stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $50.04, for a total value of $118,294.56. Following the completion of the transaction, the chief accounting officer owned 343,510 shares in the company, valued at approximately $17,189,240.40. This trade represents a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Wednesday, October 28th, Michelle Lewis sold 9,464 shares of PACS Group stock. The shares were sold at an average price of $50.12, for a total value of $474,335.68.

PACS Group Trading Down 3.9%

Shares of NYSE:PACS traded down $1.92 during trading on Friday, reaching $47.76. 591,191 shares of the stock were exchanged, compared to its average volume of 824,846. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 0.91. PACS Group, Inc. has a 12-month low of $10.31 and a 12-month high of $50.38. The firm has a market cap of $7.56 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 1.55 and a beta of -0.08. The firm’s 50-day moving average price is $44.21 and its 200 day moving average price is $39.79.

PACS Group (NYSE:PACS) last posted its earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.09. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.41 billion. On average, sell-side analysts anticipate that PACS Group, Inc. will post 2.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PACS Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vise Technologies Inc. boosted its holdings in PACS Group by 40.6% in the 3rd quarter. Vise Technologies Inc. now owns 7,209 shares of the company’s stock worth $300,000 after acquiring an additional 2,081 shares during the period. State of Wyoming grew its position in PACS Group by 11.9% in the third quarter. State of Wyoming now owns 10,551 shares of the company’s stock valued at $438,000 after acquiring an additional 1,119 shares in the last quarter. Smith Group Asset Management LLC raised its stake in shares of PACS Group by 1.3% during the third quarter. Smith Group Asset Management LLC now owns 24,680 shares of the company’s stock valued at $1,025,000 after purchasing an additional 320 shares during the period. Jacobsen Capital Management raised its stake in shares of PACS Group by 3.4% during the third quarter. Jacobsen Capital Management now owns 17,837 shares of the company’s stock valued at $741,000 after purchasing an additional 579 shares during the period. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of PACS Group during the third quarter valued at approximately $463,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PACS shares. Oppenheimer increased their price objective on shares of PACS Group from $48.00 to $57.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Zacks Research lowered shares of PACS Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 9th. JPMorgan Chase & Co. upped their price target on shares of PACS Group from $47.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, September 4th. Wall Street Zen downgraded PACS Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Finally, UBS Group increased their price target on PACS Group from $57.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.