Key Points
- CEO Jason Hulse Murray sold 84,602 PACS Group shares at an average $44.16, generating approximately $3.74 million. The transaction was conducted under a pre-arranged Rule 10b5-1 plan and reduced his holdings by just 0.15%.
- Murray also sold 84,717 shares on August 19 and 66,797 shares on August 18. He still owned nearly 55 million shares after the reported transactions.
- PACS Group recently beat quarterly earnings and revenue estimates, while analysts maintained a broadly positive view: the stock carries a consensus “Buy” rating and an average price target of $56, above its reported $44.24 opening price.
PACS Group, Inc. (NYSE:PACS - Get Free Report) CEO Jason Hulse Murray sold 66,797 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $44.18, for a total value of $2,951,091.46. Following the completion of the transaction, the chief executive officer directly owned 54,930,133 shares of the company's stock, valued at $2,426,813,275.94. This represents a 0.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Jason Hulse Murray also recently made the following trade(s):
- On Wednesday, August 19th, Jason Hulse Murray sold 84,717 shares of PACS Group stock. The shares were sold at an average price of $44.26, for a total transaction of $3,749,574.42.
- On Monday, August 17th, Jason Hulse Murray sold 84,602 shares of PACS Group stock. The shares were sold at an average price of $44.16, for a total transaction of $3,736,024.32.
PACS Group Price Performance
Shares of NYSE PACS opened at $44.24 on Thursday. The firm has a market cap of $7.00 billion, a P/E ratio of 25.72, a PEG ratio of 1.24 and a beta of -0.08. PACS Group, Inc. has a twelve month low of $7.50 and a twelve month high of $49.49. 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 company has a 50 day moving average of $43.20 and a 200 day moving average of $38.41.
PACS Group (NYSE:PACS - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.54 by $0.09. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.41 billion. PACS Group had a return on equity of 29.55% and a net margin of 4.85%. As a group, research analysts expect that PACS Group, Inc. will post 2.36 EPS for the current fiscal year.
Analysts Set New Price Targets
Several equities research analysts recently commented on PACS shares. UBS Group increased their price objective on PACS Group from $57.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. 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. Oppenheimer raised their price target on shares of PACS Group from $48.00 to $57.00 and gave the company an "outperform" rating in a report on Monday, August 10th. Zacks Research raised shares of PACS Group from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Finally, Weiss Ratings downgraded shares of PACS Group from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $56.00.
Check Out Our Latest Stock Analysis on PACS
Institutional Trading of PACS Group
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp bought a new stake in shares of PACS Group during the 2nd quarter valued at $8,196,000. Handelsbanken Fonder AB bought a new position in PACS Group in the 2nd quarter worth $567,000. Financial Management Professionals Inc. increased 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 buying an additional 235 shares in the last quarter. Empowered Funds LLC purchased a new stake in PACS Group in the 1st quarter worth $278,000. Finally, Western Wealth Management LLC purchased a new stake in PACS Group in the 1st quarter worth $48,000.
About PACS Group
(
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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