PACS Group, Inc. (NYSE:PACS) Stock Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• PACS Group holds a “Moderate Buy” consensus rating from seven analysts, with five buys and two holds; the average 12-month price target is $58.80.
• The company exceeded quarterly expectations, reporting $0.63 in EPS versus the $0.54 consensus and revenue of $1.43 billion versus $1.41 billion expected.
• Shares recently traded at $44.37, while insiders sold 1.03 million shares worth approximately $44.7 million over the past 90 days; institutional investors including Dimensional Fund Advisors increased their positions.

PACS Group, Inc. (NYSE:PACS - Get Free Report) has received an average rating of "Moderate Buy" from the seven ratings firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $58.80.

A number of research analysts have weighed in on PACS shares. Wall Street Zen downgraded PACS Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 8th. UBS Group increased their target price on PACS Group from $57.00 to $60.00 and gave the stock a "buy" rating in a research 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 research note on Monday, August 10th. Weiss Ratings upgraded PACS Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday. Finally, Zacks Research lowered PACS Group from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 9th.

Insiders Place Their Bets

In other PACS Group news, CEO Jason Murray sold 91,306 shares of the firm's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $43.92, for a total transaction of $4,010,159.52. Following the completion of the transaction, the chief executive officer owned 54,754,110 shares of the company's stock, valued at approximately $2,404,800,511.20. This trade represents a 0.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Joshua Jergensen sold 40,000 shares of the business's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $45.59, for a total transaction of $1,823,600.00. Following the sale, the chief operating officer owned 2,536,320 shares in the company, valued at approximately $115,630,828.80. This trade represents a 1.55% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 1,026,283 shares of company stock worth $44,748,389. 70.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PACS. Dimensional Fund Advisors LP raised its stake in PACS Group by 370.2% during the first 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. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of PACS Group during the 1st quarter valued at about $6,762,000. Bank of New York Mellon Corp bought a new position in PACS Group during the second quarter valued at approximately $8,196,000. Principal Financial Group Inc. bought a new position in PACS Group during the first quarter valued at approximately $3,171,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in PACS Group by 44.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 288,718 shares of the company's stock worth $9,274,000 after purchasing an additional 89,067 shares during the last quarter.

PACS Group Trading Up 2.5%

Shares of PACS opened at $44.37 on Tuesday. The firm's 50-day moving average price is $43.62 and its 200-day moving average price is $40.08. The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of 25.80, a PEG ratio of 1.35 and a beta of -0.08. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. PACS Group has a 1-year low of $10.31 and a 1-year high of $49.49.

PACS Group (NYSE:PACS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.09. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. The company had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.41 billion. Sell-side analysts anticipate that PACS Group will post 2.13 EPS for the current year.

About PACS Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.