Insider Selling: PACS Group (NYSE:PACS) COO Sells $1,823,600.00 in Stock

PACS Group, Inc. (NYSE:PACS) COO Joshua Jergensen sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $45.59, for a total value of $1,823,600.00. Following the completion of the transaction, the chief operating officer directly owned 2,536,320 shares in the company, valued at approximately $115,630,828.80. This trade represents a 1.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PACS Group Trading Down 0.8%

Shares of PACS stock traded down $0.36 during trading hours on Friday, hitting $44.63. 698,422 shares of the company were exchanged, compared to its average volume of 938,342. The firm has a market cap of $7.06 billion, a P/E ratio of 25.95, a P/E/G ratio of 1.28 and a beta of -0.08. PACS Group, Inc. has a fifty-two week low of $7.50 and a fifty-two week high of $49.49. 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 50 day simple moving average of $42.49 and a two-hundred day simple moving average of $38.13.

PACS Group (NYSE:PACS) last released its earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.09. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.41 billion. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. Equities analysts anticipate that PACS Group, Inc. will post 2.36 EPS for the current year.

Hedge Funds Weigh In On PACS Group

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of PACS Group by 14.4% in the fourth quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock valued at $172,994,000 after purchasing an additional 566,502 shares during the last quarter. Alyeska Investment Group L.P. increased its stake in PACS Group by 159.5% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company’s stock valued at $86,378,000 after buying an additional 1,382,984 shares during the last quarter. Balyasny Asset Management L.P. lifted its position in shares of PACS Group by 67.3% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,356,240 shares of the company’s stock worth $18,621,000 after buying an additional 545,348 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of PACS Group by 19.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,350,551 shares of the company’s stock worth $18,543,000 after buying an additional 220,939 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of PACS Group by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 1,020,636 shares of the company’s stock worth $39,189,000 after buying an additional 24,081 shares during the last quarter.

Wall Street Analysts Forecast Growth

PACS has been the topic of a number of research analyst reports. 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. Wall Street Zen lowered PACS Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Royal Bank Of Canada upped their price target 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 increased 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. Finally, Oppenheimer boosted their price objective on PACS Group from $48.00 to $57.00 and gave the company an “outperform” rating in a report on Monday. One investment 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. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $56.00.

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.