Key Points
- CEO Jason Murray sold $1.02 million of PACS Group stock—23,783 shares at an average price of $42.94—under a pre-arranged Rule 10b5-1 trading plan. He retained approximately 54.6 million shares, so the transaction reduced his ownership by just 0.04%.
- Murray has made several additional sales recently, including a combined 68,113 shares worth about $2.90 million from September 1–3, but the preset trading plan limits what the transactions indicate about his current outlook.
- Analysts remain generally bullish: PACS has a consensus “Buy” rating and a $56 price target, while the company recently exceeded quarterly earnings and revenue estimates. Its planned acquisition of 32 Florida nursing facilities also supports its expansion strategy.
PACS Group, Inc. (NYSE:PACS - Get Free Report) CEO Jason Murray sold 20,173 shares of the company's stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $42.56, for a total transaction of $858,562.88. Following the transaction, the chief executive officer directly owned 54,626,753 shares in the company, valued at $2,324,914,607.68. The trade was a 0.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 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, September 2nd, Jason Murray sold 23,783 shares of PACS Group stock. The stock was sold at an average price of $42.94, for a total transaction of $1,021,242.02.
- On Tuesday, September 1st, Jason Murray sold 24,157 shares of PACS Group stock. The stock was sold at an average price of $42.39, for a total transaction of $1,024,015.23.
- On Friday, August 21st, Jason Murray sold 59,244 shares of PACS Group stock. The shares were sold at an average price of $43.90, for a total value of $2,600,811.60.
- On Thursday, August 20th, Jason Murray sold 91,306 shares of PACS Group stock. The stock was sold at an average price of $43.92, for a total value of $4,010,159.52.
- On Wednesday, August 19th, Jason Murray sold 84,717 shares of PACS Group stock. The stock was sold at an average price of $44.26, for a total value of $3,749,574.42.
- On Tuesday, August 18th, Jason Murray sold 66,797 shares of PACS Group stock. The stock was sold at an average price of $44.18, for a total value of $2,951,091.46.
- On Monday, August 17th, Jason Murray sold 84,602 shares of PACS Group stock. The shares were sold at an average price of $44.16, for a total value of $3,736,024.32.
PACS Group Stock Performance
PACS Group stock opened at $43.04 on Friday. The firm has a market capitalization of $6.81 billion, a P/E ratio of 25.02, a PEG ratio of 1.22 and a beta of -0.13. The stock has a fifty day moving average price of $44.65 and a 200 day moving average price of $38.89. PACS Group, Inc. has a 52 week low of $7.50 and a 52 week high of $49.49. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21.
PACS Group (NYSE:PACS - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share 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. Equities research analysts anticipate that PACS Group, Inc. will post 2.36 earnings per share for the current year.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the stock. Oppenheimer raised their target price on shares of PACS Group from $48.00 to $57.00 and gave the stock an "outperform" rating in a research report on Monday, August 10th. Truist Financial set a $62.00 price target on shares of PACS Group in a research report on Wednesday. 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. Zacks Research upgraded shares of PACS Group from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Finally, Weiss Ratings lowered shares of PACS Group from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, PACS Group presently has a consensus rating of "Buy" and a consensus target price of $56.00.
View Our Latest Report on PACS Group
Institutional Investors Weigh In On PACS Group
Several institutional investors and hedge funds have recently added to or reduced their stakes in PACS. Vanguard Group Inc. raised its holdings in shares of PACS Group by 14.4% in the 4th quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company's stock worth $172,994,000 after purchasing an additional 566,502 shares during the period. Alyeska Investment Group L.P. grew its holdings in shares of PACS Group by 159.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company's stock worth $86,378,000 after purchasing an additional 1,382,984 shares during the period. California State Teachers Retirement System grew its holdings in shares of PACS Group by 3,298.3% during the 2nd quarter. California State Teachers Retirement System now owns 1,917,094 shares of the company's stock worth $81,745,000 after purchasing an additional 1,860,680 shares during the period. Balyasny Asset Management L.P. increased its position in PACS Group by 67.3% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,356,240 shares of the company's stock worth $18,621,000 after purchasing an additional 545,348 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in PACS Group by 19.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,350,551 shares of the company's stock worth $18,543,000 after purchasing an additional 220,939 shares in the last quarter.
Key Stories Impacting PACS Group
Here are the key news stories impacting PACS Group this week:
- Positive Sentiment: Florida expansion adds significant scale. PACS plans to acquire operations of 32 nursing facilities in Florida, giving the company a new regional presence and potentially expanding revenue and operating synergies. PACS Group To Acquire Operations Of 32 Florida Facilities
- Positive Sentiment: Eduro transaction advances. PACS has closed on 31 of 34 Eduro buildings, while the remaining facilities are expected to be addressed separately. The completed transactions increase PACS’s operating footprint and support its acquisition-led growth strategy. PACS Group to enter Florida with 32 facilities; closes on 31 of 34 Eduro buildings
- Positive Sentiment: Analyst commentary was supportive. UBS said the Florida deal supports PACS’s broader market-expansion strategy, reinforcing the view that the transaction could improve the company’s long-term growth prospects. PACS' Florida Deal Supports Market Expansion, UBS Says
- Neutral Sentiment: CEO Jason Murray sold shares under a preset plan. Murray sold a combined 68,113 PACS shares for approximately $2.90 million across September 1–3. The sales reduced his ownership by only about 0.12%; because they were executed under a pre-arranged Rule 10b5-1 plan, they provide limited evidence of a change in his outlook. He continues to own roughly 54.6 million shares. PACS CEO Form 4 filing
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.
Featured Stories
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].
