PACS Group (NYSE:PACS) CAO Michelle Renee Lewis Sells 9,464 Shares of Company Stock

Key Points

• PACS Group CAO Michelle Renee Lewis sold 9,464 shares for approximately $474,336 at an average price of $50.12 under a pre-arranged Rule 10b5-1 plan, reducing her stake by 2.66% while retaining 345,874 shares.
• PACS shares recently traded at $47.76, near their 12-month high of $50.38, with a market capitalization of $7.56 billion. The company exceeded quarterly earnings and revenue expectations, reporting EPS of $0.63 and revenue of $1.43 billion.
• Analysts maintain a generally positive outlook, with five Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $58.80.

PACS Group, Inc. (NYSE:PACS - Get Free Report) CAO Michelle Lewis sold 9,464 shares of the stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $50.12, for a total transaction of $474,335.68. Following the sale, the chief accounting officer owned 345,874 shares of the company's stock, valued at $17,335,204.88. This trade represents a 2.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michelle Renee Lewis also recently made the following trade(s):

• On Thursday, October 29th, Michelle Lewis sold 2,364 shares of PACS Group stock. The shares were sold at an average price of $50.04, for a total value of $118,294.56.

PACS Group Stock Performance

PACS traded down $1.92 on Friday, hitting $47.76. 591,191 shares of the company traded hands, compared to its average volume of 824,846. The company has a 50 day moving average of $44.21 and a 200-day moving average of $39.79. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $7.56 billion, a PE ratio of 26.43, a PEG ratio of 1.55 and a beta of -0.08. PACS Group, Inc. has a 12-month low of $10.31 and a 12-month high of $50.38.

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

Wall Street Analysts Forecast Growth

PACS has been the subject of a number of analyst reports. UBS Group upped their price objective on shares of PACS Group from $57.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Royal Bank Of Canada lifted their target price on shares of PACS Group from $52.00 to $57.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. JPMorgan Chase & Co. boosted their price target on shares of PACS Group from $47.00 to $58.00 and gave the stock an "overweight" rating in a research note on Friday, September 4th. Wall Street Zen cut shares of PACS Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Oppenheimer raised their price objective on shares of PACS Group from $48.00 to $57.00 and gave the company an "outperform" rating in a research report on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $58.80.

Hedge Funds Weigh In On PACS Group

A number of large investors have recently made changes to their positions in PACS. Vise Technologies Inc. boosted its position 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 purchasing an additional 2,081 shares in the last quarter. State of Wyoming grew its holdings 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 last quarter. Smith Group Asset Management LLC increased its position in shares of 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 buying an additional 320 shares in the last quarter. Jacobsen Capital Management raised its stake in shares of PACS Group by 3.4% during the 3rd quarter. Jacobsen Capital Management now owns 17,837 shares of the company's stock worth $741,000 after buying an additional 579 shares during the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of PACS Group during the 3rd quarter worth $463,000.

PACS Group Company Profile

PACS Group, Inc is a U.S.-based healthcare services company that owns and operates post-acute care facilities. Its platform focuses primarily on skilled nursing and transitional care, serving patients who require rehabilitation, recovery support, long-term care, and other services following hospitalization or acute medical treatment.

The company's operations also include assisted living, independent living, and behavioral health services in select locations. Through its facilities and related healthcare capabilities, PACS Group provides services such as nursing care, physical and occupational therapy, speech therapy, medical treatment, and support for patients with complex or extended care needs.

Founded in 2013 and headquartered in Farmington, Utah, PACS Group serves communities across multiple U.S.

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