PACS Group (NYSE:PACS) CEO Jason Hulse Murray Sells 6,610 Shares of Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Murray sold 6,610 shares of PACS Group stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $47.62, for a total value of $314,768.20. Following the completion of the sale, the chief executive officer directly owned 54,270,813 shares in the company, valued at $2,584,376,115.06. This represents a 0.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jason Hulse Murray also recently made the following trade(s):

• On Tuesday, October 20th, Jason Murray sold 37,477 shares of PACS Group stock. The stock was sold at an average price of $47.65, for a total value of $1,785,779.05.
• On Monday, October 19th, Jason Murray sold 1,620 shares of PACS Group stock. The stock was sold at an average price of $47.57, for a total value of $77,063.40.
• On Friday, October 16th, Jason Murray sold 8,462 shares of PACS Group stock. The shares were sold at an average price of $47.61, for a total value of $402,875.82.
• On Thursday, October 15th, Jason Murray sold 110,035 shares of PACS Group stock. The shares were sold at an average price of $47.27, for a total value of $5,201,354.45.
• On Wednesday, October 14th, Jason Murray sold 232 shares of PACS Group stock. The shares were sold at an average price of $45.00, for a total value of $10,440.00.
• On Wednesday, October 7th, Jason Murray sold 717 shares of PACS Group stock. The stock was sold at an average price of $42.48, for a total transaction of $30,458.16.
• On Tuesday, October 6th, Jason Murray sold 35,975 shares of PACS Group stock. The stock was sold at an average price of $43.09, for a total transaction of $1,550,162.75.
• On Monday, October 5th, Jason Murray sold 24,224 shares of PACS Group stock. The stock was sold at an average price of $42.66, for a total transaction of $1,033,395.84.
• On Friday, October 2nd, Jason Murray sold 26,052 shares of PACS Group stock. The shares were sold at an average price of $42.51, for a total transaction of $1,107,470.52.
• On Thursday, October 1st, Jason Murray sold 33,032 shares of PACS Group stock. The shares were sold at an average price of $41.13, for a total transaction of $1,358,606.16.

PACS Group Trading Down 2.2%

Shares of PACS Group stock opened at $46.69 on Thursday. The stock has a market cap of $7.39 billion, a P/E ratio of 25.38, a P/E/G ratio of 1.49 and a beta of -0.08. The stock’s 50 day simple moving average is $43.61 and its 200-day simple moving average is $40.80. PACS Group, Inc. has a 1-year low of $10.31 and a 1-year high of $49.49. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.91 and a quick ratio of 0.91.

PACS Group (NYSE:PACS) last posted its quarterly 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. PACS Group had a return on equity of 29.55% and a net margin of 4.85%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.41 billion. Analysts predict that PACS Group, Inc. will post 2.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Royal Bank Of Canada upped their target price on PACS Group from $52.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. raised their target price on PACS Group from $47.00 to $58.00 and gave the stock an “overweight” rating in a research note on Friday, September 4th. Wall Street Zen lowered PACS Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings upgraded PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Finally, Truist Financial set a $62.00 price target on shares of PACS Group in a research report on Wednesday, September 2nd. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.80.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC lifted its stake in shares of PACS Group by 94.7% in the 2nd quarter. Squarepoint Ops LLC now owns 59,523 shares of the company’s stock valued at $2,538,000 after purchasing an additional 28,945 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of PACS Group during the 2nd quarter worth $1,893,000. Engineers Gate Manager LP purchased a new position in shares of PACS Group during the 2nd quarter worth $1,132,000. Smith Group Asset Management LLC acquired a new stake in shares of PACS Group during the 1st quarter worth about $771,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of PACS Group during the 1st quarter worth about $3,171,000.

About PACS Group

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.