Key Points
- Insider sale: PACS Group insider Mark Hancock sold 63,680 shares on June 17 at an average price of $35.31, totaling about $2.25 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Recent selling trend: Hancock also sold shares on June 15 and June 16, bringing the recent total of insider sales to more than $10 million across three days.
- Company outlook: PACS Group recently reported quarterly earnings of $0.50 per share, beating estimates, while analysts currently have a Moderate Buy consensus with an average price target of $48.00.
PACS Group, Inc. (NYSE:PACS - Get Free Report) insider Mark Hancock sold 63,680 shares of the business's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $35.31, for a total value of $2,248,540.80. Following the sale, the insider owned 54,302,597 shares in the company, valued at approximately $1,917,424,700.07. The trade was a 0.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Mark Hancock also recently made the following trade(s):
- On Tuesday, June 16th, Mark Hancock sold 83,066 shares of PACS Group stock. The shares were sold at an average price of $35.90, for a total transaction of $2,982,069.40.
- On Monday, June 15th, Mark Hancock sold 153,254 shares of PACS Group stock. The shares were sold at an average price of $36.34, for a total transaction of $5,569,250.36.
PACS Group Stock Performance
Shares of PACS Group stock opened at $37.79 on Tuesday. PACS Group, Inc. has a 12 month low of $7.50 and a 12 month high of $43.08. The stock has a market cap of $5.98 billion and a PE ratio of 24.23. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $35.94 and a 200-day simple moving average of $36.05.
PACS Group (NYSE:PACS - Get Free Report) last issued its 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 company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.36 billion. On average, sell-side analysts anticipate that PACS Group, Inc. will post 2.23 EPS for the current fiscal year.
Institutional Trading of PACS Group
Several large investors have recently added to or reduced their stakes in PACS. Cubist Systematic Strategies LLC bought a new position in shares of PACS Group in the first quarter valued at approximately $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in PACS Group by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the company's stock worth $262,000 after acquiring an additional 1,443 shares during the last quarter. Millennium Management LLC grew its position in PACS Group by 68.3% during the 1st quarter. Millennium Management LLC now owns 859,295 shares of the company's stock worth $9,658,000 after acquiring an additional 348,743 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in PACS Group during the 1st quarter valued at $64,000. Finally, Caxton Associates LLP acquired a new stake in PACS Group during the 1st quarter valued at $163,000.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on PACS shares. Truist Financial lifted their price objective on shares of PACS Group from $50.00 to $52.00 and gave the company a "buy" rating in a research note on Monday, May 18th. Wall Street Zen upgraded shares of PACS Group from a "buy" rating to a "strong-buy" rating in a research note on Monday, June 15th. Zacks Research lowered PACS Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 14th. Royal Bank Of Canada upped their target price on PACS Group from $47.00 to $52.00 and gave the company an "outperform" rating in a research note on Friday, February 27th. Finally, Oppenheimer lifted their price target on shares of PACS Group from $42.00 to $48.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 13th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $48.00.
Check Out Our Latest Report on PACS Group
PACS Group Company Profile
(
Get Free Report)
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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