Key Points
- COO Joshua Jergensen sold 40,000 PACS Group shares at an average price of $45.59, generating $1.82 million. The sale was made under a pre-arranged Rule 10b5-1 plan and reduced his ownership by 1.55%, leaving him with 2.54 million shares.
- PACS Group reported quarterly EPS of $0.63, beating estimates by $0.09, while revenue reached $1.43 billion. The stock opened at $44.63 and has traded between $7.50 and $49.49 over the past year.
- Analysts remain broadly positive, with the stock carrying a consensus “Buy” rating and an average price target of $56.00; RBC, Oppenheimer, and UBS recently raised their targets to between $57 and $60.
PACS Group, Inc. (NYSE:PACS - Get Free Report) COO Joshua Jergensen sold 40,000 shares of PACS Group stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $45.59, for a total value of $1,823,600.00. Following the transaction, the chief operating officer owned 2,536,320 shares in the company, valued at $115,630,828.80. This trade represents a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
PACS Group Stock Performance
NYSE:PACS opened at $44.63 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a 50-day simple moving average of $42.64 and a two-hundred day simple moving average of $38.18. The firm has a market capitalization of $7.06 billion, a PE ratio of 25.95, a P/E/G ratio of 1.27 and a beta of -0.08. PACS Group, Inc. has a 52-week low of $7.50 and a 52-week high of $49.49.
PACS Group (NYSE:PACS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.54 by $0.09. PACS Group had a return on equity of 29.55% and a net margin of 4.85%.The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.41 billion. Analysts forecast that PACS Group, Inc. will post 2.36 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research firms have commented on PACS. Wall Street Zen cut shares of PACS Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 8th. Weiss Ratings lowered shares of PACS Group from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, August 5th. Royal Bank Of Canada increased their price objective on shares of PACS Group from $52.00 to $57.00 and gave the stock an "outperform" rating in a research note on Thursday, August 6th. Oppenheimer raised their price objective on shares of PACS Group from $48.00 to $57.00 and gave the company an "outperform" rating in a research report on Monday, August 10th. Finally, UBS Group lifted their target price on shares of PACS Group from $57.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $56.00.
Read Our Latest Stock Report on PACS
Institutional Trading of PACS Group
Several institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp bought a new stake in PACS Group during the 2nd quarter valued at approximately $8,196,000. Handelsbanken Fonder AB bought a new position in PACS Group in the 2nd quarter worth approximately $567,000. Financial Management Professionals Inc. boosted its stake in PACS Group by 54.9% in the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company's stock worth $28,000 after purchasing an additional 235 shares during the period. Empowered Funds LLC purchased a new stake in PACS Group during the 1st quarter valued at approximately $278,000. Finally, Western Wealth Management LLC purchased a new stake in PACS Group during the 1st quarter valued at approximately $48,000.
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
