Joshua Jergensen Sells 40,000 Shares of PACS Group (NYSE:PACS) Stock

Key Points

• PACS Group COO Joshua Jergensen sold 40,000 shares at an average price of $43.13, generating $1.73 million. The transaction was made under a pre-arranged Rule 10b5-1 trading plan, leaving him with approximately 2.50 million shares.
• PACS shares recently traded at $42.19, with the stock up significantly from its 52-week low of $10.31 but below its 52-week high of $49.49. The company recently exceeded quarterly earnings and revenue estimates.
• Analyst sentiment remains favorable, with five Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $58.80.

PACS Group, Inc. (NYSE:PACS - Get Free Report) COO Joshua Jergensen sold 40,000 shares of the stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $43.13, for a total value of $1,725,200.00. Following the completion of the sale, the chief operating officer owned 2,496,320 shares in the company, valued at approximately $107,666,281.60. This trade represents a 1.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Joshua Jergensen also recently made the following trade(s):

• On Wednesday, August 12th, Joshua Jergensen sold 40,000 shares of PACS Group stock. The stock was sold at an average price of $45.59, for a total transaction of $1,823,600.00.

PACS Group Stock Performance

Shares of NYSE:PACS traded down $0.53 on Thursday, hitting $42.19. The company had a trading volume of 706,732 shares, compared to its average volume of 905,395. The stock has a market cap of $6.68 billion, a price-to-earnings ratio of 24.53, a P/E/G ratio of 1.31 and a beta of -0.13. The stock has a 50 day moving average price of $44.69 and a 200 day moving average price of $39.14. PACS Group, Inc. has a 1-year low of $10.31 and a 1-year high of $49.49. 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 (NYSE:PACS - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.09. The company had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.41 billion. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. Analysts expect that PACS Group, Inc. will post 2.13 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PACS. Royal Bank Of Canada upped their price objective on PACS Group from $52.00 to $57.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. Wall Street Zen cut shares of PACS Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 8th. JPMorgan Chase & Co. raised their price target on shares of PACS Group from $47.00 to $58.00 and gave the stock an "overweight" rating in a research report on Friday, September 4th. Zacks Research cut shares of PACS Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 9th. Finally, UBS Group boosted their price objective on shares of PACS Group from $57.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $58.80.

Hedge Funds Weigh In On PACS Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its holdings in shares of PACS Group by 370.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 780,159 shares of the company's stock worth $25,051,000 after purchasing an additional 614,250 shares in the last quarter. 8 Knots Management LLC acquired a new position in PACS Group in the fourth quarter valued at about $23,421,000. Sei Investments Co. lifted its position in PACS Group by 7.4% during the first quarter. Sei Investments Co. now owns 370,501 shares of the company's stock worth $11,900,000 after purchasing an additional 25,462 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in PACS Group by 44.6% during 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 period. Finally, Bank of New York Mellon Corp acquired a new stake in PACS Group during the second quarter worth about $8,196,000.

PACS Group Company 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.

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.