PACS Group (NYSE:PACS) COO Sells 40,000 Shares of Stock

PACS Group, Inc. (NYSE:PACS) COO Joshua Jergensen sold 40,000 shares of the stock in a transaction that occurred on Wednesday, November 11th. The stock was sold at an average price of $50.11, for a total transaction of $2,004,400.00. Following the completion of the sale, the chief operating officer directly owned 2,416,320 shares of the company’s stock, valued at $121,081,795.20. This represents a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Joshua Jergensen also recently made the following trade(s):

• On Wednesday, October 14th, Joshua Jergensen sold 40,000 shares of PACS Group stock. The stock was sold at an average price of $44.50, for a total transaction of $1,780,000.00.
• On Wednesday, September 16th, Joshua Jergensen sold 40,000 shares of PACS Group stock. The stock was sold at an average price of $43.13, for a total transaction of $1,725,200.00.

PACS Group Price Performance

NYSE:PACS traded down $1.88 during trading hours on Thursday, hitting $48.18. 628,835 shares of the stock traded hands, compared to its average volume of 897,756. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.22. PACS Group, Inc. has a 1 year low of $10.31 and a 1 year high of $51.68. The company has a market cap of $7.65 billion, a price-to-earnings ratio of 27.22, a price-to-earnings-growth ratio of 1.60 and a beta of -0.14. The stock has a 50 day moving average price of $45.05 and a 200 day moving average price of $40.24.

PACS Group (NYSE:PACS) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.46 billion. PACS Group had a net margin of 4.87% and a return on equity of 31.98%. Sell-side analysts forecast that PACS Group, Inc. will post 2.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC boosted its stake in PACS Group by 11.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,327 shares of the company’s stock worth $97,000 after purchasing an additional 230 shares during the period. Financial Management Professionals Inc. grew its holdings in PACS Group by 54.9% during the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock valued at $28,000 after buying an additional 235 shares in the last quarter. Smith Group Asset Management LLC raised its position 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 buying an additional 320 shares during the last quarter. Meeder Advisory Services Inc. raised its position in shares of PACS Group by 4.0% during the third quarter. Meeder Advisory Services Inc. now owns 9,986 shares of the company’s stock valued at $415,000 after buying an additional 383 shares during the last quarter. Finally, Jacobsen Capital Management raised its position 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 buying an additional 579 shares during the last quarter.

Analyst Ratings Changes

A number of research firms recently weighed in on PACS. JPMorgan Chase & Co. lifted their target price on shares of PACS Group from $47.00 to $58.00 and gave the company an “overweight” rating in a research note on Friday, September 4th. Zacks Research downgraded shares of PACS Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 9th. Wall Street Zen lowered PACS Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Oppenheimer raised their price target on PACS Group from $48.00 to $57.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Finally, Royal Bank Of Canada raised their price target on PACS Group from $52.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.33.

About PACS Group

PACS Group, Inc. is a post-acute healthcare provider that operates skilled nursing and rehabilitation facilities. Its services include nursing care, physical and occupational therapy, and support for patients recovering from illness or injury, as well as care for people with ongoing or long-term needs. Founded in 2013, the company has expanded its network of facilities across the United States. Its operations are organized through affiliated entities, with care and services tailored to the needs of residents and patients in the communities it serves.