Key Points
- PACS Group COO Joshua Jergensen sold 40,000 shares at an average price of $43.13, generating $1.73 million. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, leaving him with 2.50 million shares.
- PACS Group reported quarterly earnings of $0.63 per share, exceeding analyst estimates of $0.54, while revenue of $1.43 billion also topped expectations.
- Analysts remain broadly optimistic, with five Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $58.80, above the stock’s reported $42.19 price.
PACS Group, Inc. (NYSE:PACS - Get Free Report) COO Joshua Jergensen sold 40,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $43.13, for a total transaction of $1,725,200.00. Following the transaction, the chief operating officer directly owned 2,496,320 shares of the company's stock, valued at approximately $107,666,281.60. This trade represents a 1.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Joshua Jergensen also recently made the following trade(s):
- On Wednesday, August 12th, Joshua Jergensen sold 40,000 shares of PACS Group stock. The shares were sold at an average price of $45.59, for a total value of $1,823,600.00.
PACS Group Price Performance
Shares of NYSE:PACS opened at $42.19 on Friday. The business's fifty day moving average price is $44.66 and its two-hundred day moving average price is $39.18. The stock has a market cap of $6.68 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 1.33 and a beta of -0.13. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 0.91. PACS Group, Inc. has a one year low of $10.31 and a one year high of $49.49.
PACS Group (NYSE:PACS - Get Free Report) last released its quarterly 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 company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.41 billion. On average, analysts forecast that PACS Group, Inc. will post 2.13 EPS for the current fiscal year.
Institutional Investors Weigh In On PACS Group
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its position in PACS Group by 370.2% during the first quarter. Dimensional Fund Advisors LP now owns 780,159 shares of the company's stock worth $25,051,000 after buying an additional 614,250 shares during the period. 8 Knots Management LLC acquired a new stake in PACS Group in the 4th quarter worth about $23,421,000. Sei Investments Co. grew its holdings in PACS Group by 7.4% in the 1st quarter. Sei Investments Co. now owns 370,501 shares of the company's stock valued at $11,900,000 after buying an additional 25,462 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in PACS Group by 44.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 288,718 shares of the company's stock valued at $9,274,000 after buying an additional 89,067 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of PACS Group during the 1st quarter valued at about $6,762,000.
Analysts Set New Price Targets
A number of analysts recently commented on PACS shares. Oppenheimer lifted their price objective on PACS Group from $48.00 to $57.00 and gave the stock an "outperform" rating in a research report on Monday, August 10th. JPMorgan Chase & Co. upped their target price on shares of PACS Group from $47.00 to $58.00 and gave the company an "overweight" rating in a report on Friday, September 4th. Weiss Ratings cut shares of PACS Group from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, August 5th. UBS Group lifted their price target on shares of PACS Group from $57.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Finally, Royal Bank Of Canada boosted their price objective on shares of PACS Group from $52.00 to $57.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $58.80.
View Our Latest Research Report on PACS
About PACS Group
(
Get Free Report)
PACS Group, Inc is a U.S. healthcare services company that operates skilled nursing and post-acute care facilities. Its facilities provide short-term rehabilitation, long-term skilled nursing, nursing care, and related clinical services for patients recovering from illness, injury, surgery, or hospitalization.
The company's broader care offerings may include assisted living, memory care, behavioral health, and other specialized post-acute services, depending on the facility and market.
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