VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in PACS Group, Inc. $PACS

Key Points

• Virginia Retirement Systems acquired 44,400 shares of PACS Group worth approximately $1.9 million in the second quarter. Several other institutional investors also significantly increased their holdings.
• PACS Group reported quarterly EPS of $0.63, beating estimates of $0.54, while revenue reached $1.43 billion versus expectations of $1.41 billion.
• Analyst sentiment remains positive, with five Buy ratings and two Hold ratings producing a “Moderate Buy” consensus and an average price target of $58.80 versus the stock’s reported $44.71 price.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in PACS Group, Inc. (NYSE:PACS - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 44,400 shares of the company's stock, valued at approximately $1,893,000.

A number of other institutional investors have also modified their holdings of the company. California State Teachers Retirement System increased its position in PACS Group by 3,298.3% during the 2nd quarter. California State Teachers Retirement System now owns 1,917,094 shares of the company's stock worth $81,745,000 after purchasing an additional 1,860,680 shares in the last quarter. Alyeska Investment Group L.P. boosted its holdings in PACS Group by 159.5% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company's stock worth $86,378,000 after acquiring an additional 1,382,984 shares during the period. Marshall Wace LLP grew its position in PACS Group by 348.6% in the third quarter. Marshall Wace LLP now owns 1,010,906 shares of the company's stock valued at $13,880,000 after acquiring an additional 785,537 shares in the last quarter. Ameriprise Financial Inc. grew its position in PACS Group by 120.4% in the second quarter. Ameriprise Financial Inc. now owns 1,129,612 shares of the company's stock valued at $14,595,000 after acquiring an additional 617,124 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of 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 purchasing an additional 614,250 shares during the period.

Insider Buying and Selling at PACS Group

In related news, CEO Jason Murray sold 4,758 shares of the company's stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $43.33, for a total transaction of $206,164.14. Following the sale, the chief executive officer directly owned 54,574,866 shares of the company's stock, valued at approximately $2,364,728,943.78. This represents a 0.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,263,038 shares of company stock valued at $52,600,000. 70.10% of the stock is currently owned by insiders.

PACS Group Stock Performance

Shares of PACS Group stock opened at $44.71 on Friday. The firm has a market cap of $7.08 billion, a PE ratio of 25.99, a price-to-earnings-growth ratio of 1.40 and a beta of -0.13. PACS Group, Inc. has a 1 year low of $8.98 and a 1 year high of $49.49. The firm's 50-day simple moving average is $44.74 and its 200-day simple moving average is $39.09. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 0.91.

PACS Group (NYSE:PACS - Get Free Report) last announced its quarterly earnings data 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 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 analysts' expectations of $1.41 billion. Equities analysts forecast that PACS Group, Inc. will post 2.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on PACS shares. Royal Bank Of Canada boosted their price objective on shares of PACS Group from $52.00 to $57.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. JPMorgan Chase & Co. increased their price target on PACS Group from $47.00 to $58.00 and gave the company an "overweight" rating in a report on Friday, September 4th. UBS Group raised their price objective on PACS Group from $57.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Zacks Research lowered PACS Group from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. Finally, Weiss Ratings cut PACS Group from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, August 5th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $58.80.

PACS Group Profile

PACS Group, Inc is a U.S. healthcare services company that operates skilled nursing and post-acute care facilities. Its facilities provide short-term rehabilitation, long-term skilled nursing, nursing care, and related clinical services for patients recovering from illness, injury, surgery, or hospitalization.

The company's broader care offerings may include assisted living, memory care, behavioral health, and other specialized post-acute services, depending on the facility and market.

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