PACS Group (NYSE:PACS) Sets New 12-Month High – Here’s What Happened

PACS Group, Inc. (NYSE:PACS) shares reached a new 52-week high during mid-day trading on Monday. The company traded as high as $49.78 and last traded at $49.21, with a volume of 294,579 shares changing hands. The stock had previously closed at $47.64.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Zacks Research cut shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 9th. Truist Financial set a $62.00 price target on shares of PACS Group in a research note on Wednesday, September 2nd. Wall Street Zen downgraded shares of PACS Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Oppenheimer boosted their price objective on shares of PACS Group from $48.00 to $57.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Finally, Weiss Ratings raised shares of PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $58.80.

PACS Group Trading Up 2.8%

The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $43.72 and its 200-day moving average is $41.02. The firm has a market cap of $7.75 billion, a P/E ratio of 28.50, a price-to-earnings-growth ratio of 1.49 and a beta of -0.08.

PACS Group (NYSE:PACS) last issued 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 business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.41 billion. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. As a group, analysts forecast that PACS Group, Inc. will post 2.13 earnings per share for the current fiscal year.

Insider Transactions at PACS Group

In other PACS Group news, COO Joshua Jergensen sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 14th. The shares were sold at an average price of $44.50, for a total value of $1,780,000.00. Following the sale, the chief operating officer owned 2,456,320 shares in the company, valued at approximately $109,306,240. This trade represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jason Murray sold 6,610 shares of the business’s stock in a transaction 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 transaction, the chief executive officer owned 54,270,813 shares of the company’s stock, valued at $2,584,376,115.06. This trade represents a 0.01% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,230,719 shares of company stock worth $54,320,670. Corporate insiders own 70.10% of the company’s stock.

Institutional Trading of PACS Group

Large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC lifted its position in shares of PACS Group by 11.0% in the third quarter. Nisa Investment Advisors LLC now owns 2,327 shares of the company’s stock valued at $97,000 after buying an additional 230 shares during the last quarter. Financial Management Professionals Inc. boosted its stake in shares of PACS Group by 54.9% during the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock worth $28,000 after acquiring an additional 235 shares during the period. Jacobsen Capital Management increased its holdings in shares of PACS Group by 1.6% during the 1st quarter. Jacobsen Capital Management now owns 18,128 shares of the company’s stock worth $582,000 after acquiring an additional 294 shares during the last quarter. Toth Financial Advisory Corp increased its holdings in shares of PACS Group by 87.5% during the 3rd quarter. Toth Financial Advisory Corp now owns 1,500 shares of the company’s stock worth $62,000 after acquiring an additional 700 shares during the last quarter. Finally, Peterson Wealth Services raised its stake in PACS Group by 1.6% in the 1st quarter. Peterson Wealth Services now owns 53,672 shares of the company’s stock valued at $1,724,000 after acquiring an additional 854 shares during the period.

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.