PACS Group (NYSE:PACS) CEO Sells 33,032 Shares of Stock

Key Points

• CEO Jason Murray sold 33,032 PACS Group shares at an average price of $41.13, generating approximately $1.36 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan and reduced his stake by 0.06%.
• Murray has made several additional stock sales recently, while still retaining approximately 54.5 million shares valued at about $2.24 billion.
• PACS Group recently exceeded quarterly earnings and revenue expectations, and analysts maintain a “Moderate Buy” consensus with an average price target of $58.80, versus a recent share price near $42.74.

PACS Group, Inc. (NYSE:PACS - Get Free Report) CEO Jason Murray sold 33,032 shares of the business's stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $41.13, for a total value of $1,358,606.16. Following the sale, the chief executive officer directly owned 54,522,217 shares of the company's stock, valued at $2,242,498,785.21. This represents a 0.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jason Hulse Murray also recently made the following trade(s):

• On Monday, October 5th, Jason Murray sold 24,224 shares of PACS Group stock. The stock was sold at an average price of $42.66, for a total transaction of $1,033,395.84.
• On Friday, October 2nd, Jason Murray sold 26,052 shares of PACS Group stock. The stock was sold at an average price of $42.51, for a total transaction of $1,107,470.52.
• On Monday, September 14th, Jason Murray sold 317 shares of PACS Group stock. The shares were sold at an average price of $45.03, for a total transaction of $14,274.51.
• On Friday, September 11th, Jason Murray sold 10,529 shares of PACS Group stock. The stock was sold at an average price of $45.23, for a total transaction of $476,226.67.
• On Thursday, September 10th, Jason Murray sold 8,771 shares of PACS Group stock. The stock was sold at an average price of $45.16, for a total transaction of $396,098.36.
• On Wednesday, September 9th, Jason Murray sold 4,758 shares of PACS Group stock. The shares were sold at an average price of $43.33, for a total transaction of $206,164.14.
• On Tuesday, September 8th, Jason Murray sold 24,057 shares of PACS Group stock. The shares were sold at an average price of $43.49, for a total transaction of $1,046,238.93.
• On Friday, September 4th, Jason Murray sold 23,072 shares of PACS Group stock. The shares were sold at an average price of $42.69, for a total transaction of $984,943.68.
• On Thursday, September 3rd, Jason Murray sold 20,173 shares of PACS Group stock. The stock was sold at an average price of $42.56, for a total transaction of $858,562.88.
• On Wednesday, September 2nd, Jason Murray sold 23,783 shares of PACS Group stock. The stock was sold at an average price of $42.94, for a total value of $1,021,242.02.

PACS Group Price Performance

NYSE:PACS traded down $0.11 on Monday, reaching $42.74. 844,528 shares of the company's stock traded hands, compared to its average volume of 900,159. 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 50-day simple moving average of $43.97 and a 200-day simple moving average of $39.70. The firm has a market cap of $6.76 billion, a PE ratio of 24.85, a P/E/G ratio of 1.34 and a beta of -0.08. PACS Group, Inc. has a 12 month low of $10.31 and a 12 month high of $49.49.

PACS Group (NYSE:PACS - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.41 billion. Equities research analysts forecast that PACS Group, Inc. will post 2.13 earnings per share for the current year.

Institutional Investors Weigh In On PACS Group

Several large investors have recently bought and sold shares of PACS. Financial Management Professionals Inc. lifted its position in PACS Group by 54.9% during the second quarter. Financial Management Professionals Inc. now owns 663 shares of the company's stock valued at $28,000 after purchasing an additional 235 shares during the last quarter. Jacobsen Capital Management increased its holdings in shares of PACS Group by 1.6% in the 1st quarter. Jacobsen Capital Management now owns 18,128 shares of the company's stock worth $582,000 after buying an additional 294 shares during the last quarter. Strategic Advocates LLC increased its holdings in shares of PACS Group by 18.5% in the 4th quarter. Strategic Advocates LLC now owns 5,182 shares of the company's stock worth $203,000 after buying an additional 808 shares during the last quarter. Peterson Wealth Services raised its position in shares of PACS Group by 1.6% during the 1st quarter. Peterson Wealth Services now owns 53,672 shares of the company's stock valued at $1,724,000 after buying an additional 854 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of PACS Group by 1.3% during the 1st quarter. Swiss National Bank now owns 93,000 shares of the company's stock valued at $2,987,000 after buying an additional 1,200 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Zacks Research lowered shares of PACS Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 9th. UBS Group upped their target price 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. Weiss Ratings cut shares of PACS Group from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, August 5th. Royal Bank Of Canada lifted their price target 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. Finally, 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. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $58.80.

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.

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