Michelle Renee Lewis Sells 6,663 Shares of PACS Group (NYSE:PACS) Stock

PACS Group, Inc. (NYSE:PACS) CAO Michelle Renee Lewis sold 6,663 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $45.03, for a total value of $300,034.89. Following the completion of the transaction, the chief accounting officer owned 359,475 shares of the company’s stock, valued at $16,187,159.25. This trade represents a 1.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michelle Renee Lewis also recently made the following trade(s):

• On Monday, July 6th, Michelle Renee Lewis sold 4,137 shares of PACS Group stock. The stock was sold at an average price of $45.04, for a total value of $186,330.48.
• On Wednesday, July 1st, Michelle Renee Lewis sold 4,200 shares of PACS Group stock. The shares were sold at an average price of $45.01, for a total transaction of $189,042.00.
• On Thursday, June 25th, Michelle Renee Lewis sold 15,000 shares of PACS Group stock. The stock was sold at an average price of $40.01, for a total transaction of $600,150.00.

PACS Group Trading Up 0.5%

Shares of PACS traded up $0.20 during midday trading on Monday, hitting $44.68. The stock had a trading volume of 1,312,827 shares, compared to its average volume of 948,595. The business has a 50-day simple moving average of $37.20 and a two-hundred day simple moving average of $36.64. The firm has a market cap of $7.07 billion, a P/E ratio of 28.64, a price-to-earnings-growth ratio of 1.33 and a beta of -0.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27. PACS Group, Inc. has a fifty-two week low of $7.50 and a fifty-two week high of $45.89.

PACS Group (NYSE:PACS) last released its quarterly earnings results on Monday, May 11th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.36 billion. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. As a group, equities analysts forecast that PACS Group, Inc. will post 2.23 EPS for the current year.

Analyst Ratings Changes

PACS has been the subject of several recent analyst reports. Oppenheimer raised 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 upped their price target on PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Zacks Research downgraded PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Wall Street Zen upgraded PACS Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of PACS Group in a report on Wednesday, June 24th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

Institutional Trading of PACS Group

A number of institutional investors have recently bought and sold shares of PACS. Hollencrest Capital Management purchased a new position in PACS Group in the fourth quarter valued at about $27,000. Quarry LP lifted its holdings in shares of PACS Group by 79.5% during the 3rd quarter. Quarry LP now owns 2,388 shares of the company’s stock valued at $33,000 after buying an additional 1,058 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of 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 buying an additional 612 shares during the last quarter. KBC Group NV bought a new stake in shares of PACS Group in the 1st quarter valued at approximately $42,000. Finally, Western Wealth Management LLC acquired a new position in PACS Group in the first quarter worth approximately $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.