Key Points
- PACS Group COO Joshua Jergensen sold 40,000 shares for about $2.0 million at an average price of $50.11. The sale was made under a pre-arranged Rule 10b5-1 plan; he retained 2,416,320 shares.
- PACS reported quarterly EPS of $0.63, beating the $0.58 consensus, and revenue of $1.50 billion versus expectations of $1.46 billion.
- Analysts’ consensus rating is Moderate Buy, 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) COO Joshua Jergensen sold 40,000 shares of the stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $50.11, for a total transaction of $2,004,400.00. Following the completion of the sale, the chief operating officer directly owned 2,416,320 shares of the company's stock, valued at $121,081,795.20. The trade was a 1.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Joshua Jergensen also recently made the following trade(s):
- On Wednesday, October 14th, Joshua Jergensen sold 40,000 shares of PACS Group stock. The shares were sold at an average price of $44.50, for a total transaction of $1,780,000.00.
- On Wednesday, September 16th, Joshua Jergensen sold 40,000 shares of PACS Group stock. The shares were sold at an average price of $43.13, for a total transaction of $1,725,200.00.
PACS Group Stock Performance
NYSE:PACS opened at $48.18 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $7.65 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 1.63 and a beta of -0.14. The firm's fifty day simple moving average is $45.15 and its 200 day simple moving average is $40.31. PACS Group, Inc. has a twelve month low of $10.31 and a twelve month high of $51.68.
PACS Group (NYSE:PACS - Get Free Report) last announced its quarterly 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. PACS Group had a net margin of 4.87% and a return on equity of 31.98%. The firm had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.46 billion. As a group, equities research analysts expect that PACS Group, Inc. will post 2.05 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of research analysts have commented on PACS shares. Zacks Research cut PACS Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 9th. Truist Financial reiterated a "buy" rating and issued a $65.00 target price (up from $62.00) on shares of PACS Group in a research note on Thursday, November 5th. Royal Bank Of Canada raised their target price on PACS Group from $52.00 to $57.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. Oppenheimer raised their target price on PACS Group from $48.00 to $57.00 and gave the company an "outperform" rating in a report on Monday, August 10th. Finally, Wall Street Zen lowered PACS Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 8th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.33.
Get Our Latest Report on PACS
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in 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 purchasing an additional 614,250 shares in the last quarter. Sei Investments Co. lifted 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 worth $11,900,000 after buying an additional 25,462 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted 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 worth $9,274,000 after buying an additional 89,067 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in PACS Group in the 2nd quarter worth $8,196,000. Finally, Corient Private Wealth LP boosted its position in PACS Group by 1.8% in the 2nd quarter. Corient Private Wealth LP now owns 152,846 shares of the company's stock valued at $6,517,000 after buying an additional 2,680 shares during the last quarter.
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.
Further Reading
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