Key Points
- COO Joshua Jergensen sold 40,000 PACS Group shares at an average price of $44.50, generating $1.78 million. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, and he retained 2.46 million shares.
- PACS shares were trading at $46.93, near their 52-week high of $49.49, while the company’s latest quarterly results exceeded expectations with $0.63 in EPS and $1.43 billion in revenue.
- Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $58.80, although Zacks downgraded the stock to “Hold.”
PACS Group, Inc. (NYSE:PACS - Get Free Report) CEO Jason Murray sold 232 shares of the company's stock in a transaction that occurred on Wednesday, October 14th. The shares were sold at an average price of $45.00, for a total transaction of $10,440.00. Following the sale, the chief executive officer directly owned 54,435,017 shares of the company's stock, valued at approximately $2,449,575,765. This represents a 0.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 16th, Jason Murray sold 8,462 shares of PACS Group stock. The stock was sold at an average price of $47.61, for a total transaction of $402,875.82.
- On Thursday, October 15th, Jason Murray sold 110,035 shares of PACS Group stock. The stock was sold at an average price of $47.27, for a total transaction of $5,201,354.45.
- On Wednesday, October 7th, Jason Murray sold 717 shares of PACS Group stock. The shares were sold at an average price of $42.48, for a total transaction of $30,458.16.
- On Tuesday, October 6th, Jason Murray sold 35,975 shares of PACS Group stock. The shares were sold at an average price of $43.09, for a total transaction of $1,550,162.75.
- On Monday, October 5th, Jason Murray sold 24,224 shares of PACS Group stock. The stock was sold at an average price of $42.66, for a total value of $1,033,395.84.
- On Friday, October 2nd, Jason Murray sold 26,052 shares of PACS Group stock. The stock was 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 stock was sold at an average price of $41.13, for a total value of $1,358,606.16.
- On Monday, September 14th, Jason Murray sold 317 shares of PACS Group stock. The shares were sold at an average price of $45.03, for a total value of $14,274.51.
- On Friday, September 11th, Jason Murray sold 10,529 shares of PACS Group stock. The shares were sold at an average price of $45.23, for a total value of $476,226.67.
- On Thursday, September 10th, Jason Murray sold 8,771 shares of PACS Group stock. The shares were sold at an average price of $45.16, for a total value of $396,098.36.
PACS Group Stock Performance
PACS traded down $0.82 during midday trading on Friday, reaching $46.93. The company had a trading volume of 958,006 shares, compared to its average volume of 803,212. 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 business has a 50-day moving average of $43.58 and a two-hundred day moving average of $40.42. The company has a market cap of $7.43 billion, a P/E ratio of 27.28, a P/E/G ratio of 1.49 and a beta of -0.08. PACS Group, Inc. has a 1 year low of $10.31 and a 1 year 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. As a group, equities research analysts predict that PACS Group, Inc. will post 2.13 earnings per share for the current fiscal year.
Institutional Trading of PACS Group
Several institutional investors have recently made changes to their positions in the business. Financial Management Professionals Inc. raised its stake in PACS Group by 54.9% during the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company's stock valued at $28,000 after purchasing an additional 235 shares during the period. GK Wealth Management LLC purchased a new position in PACS Group in the 3rd quarter worth approximately $41,000. KBC Group NV purchased a new position in PACS Group in the 1st quarter worth approximately $42,000. USA Financial Formulas bought a new position in PACS Group in the 3rd quarter worth approximately $46,000. Finally, Western Wealth Management LLC bought a new position in PACS Group in the 1st quarter worth approximately $48,000.
PACS Group News Roundup
Here are the key news stories impacting PACS Group this week:
- Positive Sentiment: An analysis suggests that expanding the company’s lease portfolio could reshape the investment case for PACS Group, potentially supporting future growth and increasing investor interest. The article provides a potentially constructive strategic angle, although specific financial details were not included. Lease Expansion Could Reshape The Case For PACS Group Stock
- Neutral Sentiment: PACS shares recently gained 6.2% on above-average volume, indicating strong near-term buying interest. However, Zacks cautioned that the latest earnings-estimate revision trend may not support additional gains in the immediate future, making continuation of the rally uncertain. PACS Group Surges 6.2%: Is This an Indication of Further Gains?
- Negative Sentiment: CEO Jason Murray sold a combined 118,729 shares for approximately $5.60 million, while COO Joshua Jergensen sold 40,000 shares valued at $1.78 million. Such sales can weigh on sentiment because they indicate insider selling near recent highs; however, both executives retained substantial positions, and the transactions were made under pre-arranged trading plans.
Analyst Upgrades and Downgrades
A number of research firms have commented on PACS. Weiss Ratings upgraded shares of PACS Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, October 8th. UBS Group upped their price target on shares of PACS Group from $57.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Truist Financial set a $62.00 price objective on shares of PACS Group in a research note on Wednesday, September 2nd. Zacks Research downgraded shares of PACS Group from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 9th. Finally, Wall Street Zen downgraded shares of PACS Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 8th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $58.80.
Read Our Latest Stock Report on PACS
About PACS Group
(
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.
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