Key Points
- CEO insider sale: Jason Hulse Murray sold 24,224 PACS Group shares for approximately $1.03 million at an average price of $42.66. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced his ownership by only 0.04%.
- Recent performance: PACS opened at $42.74, with a market capitalization of about $6.76 billion. Its latest quarterly results exceeded expectations, with adjusted earnings of $0.63 per share and revenue of $1.43 billion.
- Analyst outlook remains positive: Five analysts rate the stock a Buy and two rate it a Hold, producing a consensus “Moderate Buy” rating and an average price target of $58.80, above the current share price.
PACS Group, Inc. (NYSE:PACS - Get Free Report) CEO Jason Murray sold 24,224 shares of the firm's stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $42.66, for a total value of $1,033,395.84. Following the transaction, the chief executive officer owned 54,471,941 shares of the company's stock, valued at $2,323,773,003.06. This trade represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 Friday, October 2nd, Jason Murray sold 26,052 shares of PACS Group stock. The shares were sold at an average price of $42.51, for a total value of $1,107,470.52.
- On Thursday, October 1st, Jason Murray sold 33,032 shares of PACS Group stock. The shares were sold at an average price of $41.13, for a total transaction of $1,358,606.16.
- On Monday, September 14th, Jason Murray sold 317 shares of PACS Group stock. The stock was sold at an average price of $45.03, for a total transaction of $14,274.51.
- On Friday, September 11th, Jason Murray sold 10,529 shares of PACS Group stock. The stock was sold at an average price of $45.23, for a total transaction of $476,226.67.
- On Thursday, September 10th, Jason Murray sold 8,771 shares of PACS Group stock. The stock was sold at an average price of $45.16, for a total transaction of $396,098.36.
- On Wednesday, September 9th, Jason Murray sold 4,758 shares of PACS Group stock. The shares were sold at an average price of $43.33, for a total transaction of $206,164.14.
- On Tuesday, September 8th, Jason Murray sold 24,057 shares of PACS Group stock. The shares were sold at an average price of $43.49, for a total transaction of $1,046,238.93.
- On Friday, September 4th, Jason Murray sold 23,072 shares of PACS Group stock. The stock was sold at an average price of $42.69, for a total transaction of $984,943.68.
- On Thursday, September 3rd, Jason Murray sold 20,173 shares of PACS Group stock. The stock was sold at an average price of $42.56, for a total transaction of $858,562.88.
- 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.
PACS Group Price Performance
PACS stock opened at $42.74 on Tuesday. The firm has a market cap of $6.76 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 1.34 and a beta of -0.08. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. PACS Group, Inc. has a 12-month low of $10.31 and a 12-month high of $49.49. The company's fifty day simple moving average is $43.89 and its 200 day simple moving average is $39.75.
PACS Group (NYSE:PACS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.09. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. The business had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.41 billion. On average, analysts expect that PACS Group, Inc. will post 2.13 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the stock. UBS Group increased their target price on shares of PACS Group from $57.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. upped their price target on PACS Group from $47.00 to $58.00 and gave the stock an "overweight" rating in a research note on Friday, September 4th. Weiss Ratings lowered PACS Group from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, August 5th. Royal Bank Of Canada raised their price objective on PACS Group from $52.00 to $57.00 and gave the company an "outperform" rating in a research note on Thursday, August 6th. Finally, Wall Street Zen downgraded PACS Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 8th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $58.80.
Get Our Latest Analysis on PACS
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its position in shares of PACS Group by 370.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 780,159 shares of the company's stock valued at $25,051,000 after buying an additional 614,250 shares during the last quarter. 8 Knots Management LLC purchased a new stake in PACS Group in the 4th quarter worth about $23,421,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in PACS Group in the 1st quarter worth about $6,762,000. Bank of New York Mellon Corp bought a new stake in PACS Group in the 2nd quarter valued at about $8,196,000. Finally, Principal Financial Group Inc. bought a new stake in PACS Group in the 1st quarter valued at about $3,171,000.
More PACS Group News
Here are the key news stories impacting PACS Group this week:
- Positive Sentiment: Expanded Florida operations: PACS subsidiaries assumed operations of 32 skilled-nursing facilities in Florida from an Airamid Health Services-affiliated operator, effective October 1. The transition increases PACS’s operating footprint and could support future revenue and earnings growth. Omega Healthcare Investors said annual rent for the portfolio is scheduled to increase by $26.1 million in the first year, although the direct financial benefit to PACS will depend on its operating and management arrangements. Omega to Transition Operations of 32 Facilities in Florida to PACS Group
- Neutral Sentiment: Omega’s restructuring highlights a mixed backdrop: Omega expects to incur a roughly $90 million expense related to the facility transfers, suggesting the transition reflects operator and portfolio issues at the property owner. For PACS, the change may create growth opportunities, but investors will likely watch occupancy, operating margins and integration execution before assigning full value to the additional facilities. Omega Health Investors Transfers Florida Facilities to PACS, Incurs $90 Million Expense
- Negative Sentiment: CEO insider selling: CEO Jason Murray sold a combined 83,308 PACS shares from October 1 through October 5 for approximately $3.5 million. The sales reduced his holdings by only about 0.15% and were executed under a pre-arranged Rule 10b5-1 trading plan, limiting their significance as a signal about management’s outlook. Nevertheless, the transactions can create modest near-term selling pressure or investor caution. PACS Group CEO Form 4 Insider Transactions
PACS Group Company Profile
(
Get Free Report)
PACS Group, Inc is a healthcare services company that operates skilled nursing and other post-acute care facilities in the United States. Its facilities provide services for patients who require medical care, rehabilitation, recovery support, or assistance with daily activities following hospitalization or other acute health events.
The company's services generally include skilled nursing, physical and occupational therapy, speech therapy, long-term care, short-term rehabilitation, and other specialized post-acute programs.
Read More
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].
