Key Points
- CEO Jason Murray sold 19,235 PACS shares at an average $50.64, worth about $974,000, under a pre-arranged Rule 10b5-1 plan. He still directly owned approximately 53.9 million shares afterward.
- PACS reported quarterly earnings of $0.63 per share and revenue of $1.50 billion, exceeding analyst estimates of $0.58 and $1.46 billion, respectively.
- Analysts maintain a Moderate Buy consensus, with an average price target of $61.33; seven analysts rate the stock Buy and one rates it Hold.
PACS Group, Inc. (NYSE:PACS - Get Free Report) CEO Jason Murray sold 19,235 shares of the stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $50.64, for a total value of $974,060.40. Following the completion of the transaction, the chief executive officer directly owned 53,934,866 shares of the company's stock, valued at approximately $2,731,261,614.24. This represents a 0.04% decrease in their ownership of the stock. The transaction 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 Wednesday, November 4th, Jason Murray sold 167,434 shares of PACS Group stock. The shares were sold at an average price of $50.24, for a total value of $8,411,884.16.
- On Tuesday, November 3rd, Jason Murray sold 26,504 shares of PACS Group stock. The stock was sold at an average price of $46.50, for a total transaction of $1,232,436.00.
- On Monday, November 2nd, Jason Murray sold 31,358 shares of PACS Group stock. The stock was sold at an average price of $46.02, for a total transaction of $1,443,095.16.
- On Thursday, October 29th, Jason Murray sold 1,904 shares of PACS Group stock. The stock was sold at an average price of $50.05, for a total transaction of $95,295.20.
- On Wednesday, October 28th, Jason Murray sold 6,899 shares of PACS Group stock. The shares were sold at an average price of $50.10, for a total transaction of $345,639.90.
- On Friday, October 23rd, Jason Murray sold 68,917 shares of PACS Group stock. The shares were sold at an average price of $48.60, for a total transaction of $3,349,366.20.
- On Thursday, October 22nd, Jason Murray sold 13,696 shares of PACS Group stock. The stock was sold at an average price of $47.55, for a total transaction of $651,244.80.
- On Wednesday, October 21st, Jason Murray sold 6,610 shares of PACS Group stock. The stock was sold at an average price of $47.62, for a total transaction of $314,768.20.
- On Tuesday, October 20th, Jason Murray sold 37,477 shares of PACS Group stock. The stock was sold at an average price of $47.65, for a total transaction of $1,785,779.05.
- On Monday, October 19th, Jason Murray sold 1,620 shares of PACS Group stock. The shares were sold at an average price of $47.57, for a total transaction of $77,063.40.
PACS Group Stock Down 2.1%
PACS stock opened at $48.57 on Tuesday. The company has a market cap of $7.71 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 1.57 and a beta of -0.14. The company has a current ratio of 0.80, a quick ratio of 0.91 and a debt-to-equity ratio of 0.22. PACS Group, Inc. has a 12 month low of $10.31 and a 12 month high of $51.68. The firm has a 50-day moving average of $44.75 and a two-hundred day moving average of $40.09.
PACS Group (NYSE:PACS - Get Free Report) last released its earnings results on Tuesday, November 3rd. The company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.05. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.46 billion. PACS Group had a net margin of 4.87% and a return on equity of 31.98%. As a group, analysts forecast that PACS Group, Inc. will post 2.13 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in PACS. Eurizon Capital SGR S.p.A. purchased a new position in PACS Group in the third quarter worth approximately $34,000. Fulcrum Asset Management LLP increased its stake in PACS Group by 244.8% during the third quarter. Fulcrum Asset Management LLP now owns 11,014 shares of the company's stock worth $465,000 after acquiring an additional 7,820 shares during the last quarter. Vise Technologies Inc. increased its stake in PACS Group by 40.6% during the third quarter. Vise Technologies Inc. now owns 7,209 shares of the company's stock worth $300,000 after acquiring an additional 2,081 shares during the last quarter. State of Wyoming raised its position in PACS Group by 11.9% in the third quarter. State of Wyoming now owns 10,551 shares of the company's stock valued at $438,000 after purchasing an additional 1,119 shares during the period. Finally, Smith Group Asset Management LLC raised its position in PACS Group by 1.3% in the third quarter. Smith Group Asset Management LLC now owns 24,680 shares of the company's stock valued at $1,025,000 after purchasing an additional 320 shares during the period.
Analyst Ratings Changes
PACS has been the subject of several recent research reports. Zacks Research cut PACS Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 9th. Royal Bank Of Canada boosted their price objective on PACS Group from $52.00 to $57.00 and gave the stock an "outperform" rating in a research note on Thursday, August 6th. Weiss Ratings raised PACS Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, November 4th. JPMorgan Chase & Co. upped their target price on PACS Group from $47.00 to $58.00 and gave the company an "overweight" rating in a report on Friday, September 4th. Finally, Stephens raised their target price on PACS Group from $60.00 to $64.00 and gave the stock an "overweight" rating in a research note on Thursday, November 5th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.33.
Get Our Latest Analysis on PACS Group
About PACS Group
(
Get Free Report)
PACS Group, Inc is a post-acute healthcare provider that operates skilled nursing and rehabilitation facilities. Its services include nursing care, physical and occupational therapy, and support for patients recovering from illness or injury, as well as care for people with ongoing or long-term needs.
Founded in 2013, the company has expanded its network of facilities across the United States. Its operations are organized through affiliated entities, with care and services tailored to the needs of residents and patients in the communities it serves.
PACS Group is led by co-founder and Chief Executive Officer Jason Murray.
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