Key Points
- Insider sale: PACS Group insider John Todd Mitchell sold 27,389 shares on May 18 at an average price of $37.16, totaling about $1.02 million. The sale was made under a pre-arranged Rule 10b5-1 plan.
- Recent selling continued: Mitchell also sold 52,763 shares on May 15 for about $2.01 million, indicating a larger recent reduction in his PACS stake.
- Company backdrop: PACS Group recently beat quarterly earnings and revenue estimates, while analysts remain generally positive with a Moderate Buy rating and an average price target of $48.00.
PACS Group, Inc. (NYSE:PACS - Get Free Report) insider John Todd Mitchell sold 27,389 shares of the business's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $37.16, for a total value of $1,017,775.24. Following the completion of the sale, the insider owned 803,566 shares of the company's stock, valued at $29,860,512.56. This trade represents a 3.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
John Todd Mitchell also recently made the following trade(s):
- On Friday, May 15th, John Todd Mitchell sold 52,763 shares of PACS Group stock. The shares were sold at an average price of $38.02, for a total value of $2,006,049.26.
PACS Group Price Performance
Shares of NYSE PACS opened at $36.82 on Wednesday. PACS Group, Inc. has a twelve month low of $7.50 and a twelve month high of $43.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $5.83 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 1.12 and a beta of -0.03. The business has a 50 day simple moving average of $34.38 and a 200-day simple moving average of $33.14.
PACS Group (NYSE:PACS - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.08. PACS Group had a return on equity of 26.47% and a net margin of 4.49%.The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.36 billion. As a group, equities research analysts expect that PACS Group, Inc. will post 2.19 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the stock. Jacobsen Capital Management grew its stake in 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 buying an additional 294 shares during the last quarter. Larson Financial Group LLC grew its stake in PACS Group by 127.0% during the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company's stock worth $42,000 after buying an additional 612 shares during the last quarter. Hollencrest Capital Management bought a new position in PACS Group during the 4th quarter worth $27,000. Strategic Advocates LLC grew its stake in PACS Group by 18.5% during the 4th quarter. Strategic Advocates LLC now owns 5,182 shares of the company's stock worth $203,000 after buying an additional 808 shares during the last quarter. Finally, Peterson Wealth Services boosted its position in PACS Group by 1.6% during the 1st quarter. Peterson Wealth Services now owns 53,672 shares of the company's stock worth $1,724,000 after acquiring an additional 854 shares during the period.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on PACS shares. Oppenheimer boosted their price target on PACS Group from $42.00 to $48.00 and gave the company an "outperform" rating in a report on Wednesday, May 13th. Truist Financial boosted their price target on PACS Group from $50.00 to $52.00 and gave the company a "buy" rating in a report on Monday. Royal Bank Of Canada upped their price objective on PACS Group from $47.00 to $52.00 and gave the stock an "outperform" rating in a research note on Friday, February 27th. Wall Street Zen upgraded PACS Group from a "hold" rating to a "buy" rating in a research note on Sunday, May 10th. Finally, UBS Group upped their price objective on PACS Group from $42.00 to $44.00 and gave the stock a "buy" rating in a research note on Wednesday, March 4th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $48.00.
Get Our Latest Stock Report on PACS Group
About PACS Group
(
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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.
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