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

Key Points

• COO Joshua Jergensen sold 40,000 PACS Group shares at an average $50.11, worth about $2.0 million. The sale was made under a pre-arranged Rule 10b5-1 plan; he retained 2,416,320 shares afterward.
• PACS Group beat quarterly estimates, reporting EPS of $0.63 versus the $0.58 consensus and revenue of $1.50 billion versus $1.46 billion expected.
• Analysts’ average rating was Moderate Buy, with an average price target of $61.33; seven analysts rated the stock Buy and one rated it Hold.

PACS Group, Inc. (NYSE:PACS - Get Free Report) COO Joshua Jergensen sold 40,000 shares of the stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $50.11, for a total value of $2,004,400.00. Following the sale, the chief operating officer owned 2,416,320 shares in the company, valued at approximately $121,081,795.20. This represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, October 14th, Joshua Jergensen sold 40,000 shares of PACS Group stock. The stock was sold at an average price of $44.50, for a total value of $1,780,000.00.
• On Wednesday, September 16th, Joshua Jergensen sold 40,000 shares of PACS Group stock. The shares were sold at an average price of $43.13, for a total transaction of $1,725,200.00.

PACS Group Stock Performance

PACS stock traded down $1.88 on Thursday, hitting $48.18. The company had a trading volume of 628,835 shares, compared to its average volume of 897,756. The stock's 50-day simple moving average is $45.05 and its 200 day simple moving average is $40.24. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of 27.22, a P/E/G ratio of 1.60 and a beta of -0.14. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.22. PACS Group, Inc. has a 12-month low of $10.31 and a 12-month high of $51.68.

PACS Group (NYSE:PACS - Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.05. PACS Group had a return on equity of 31.98% and a net margin of 4.87%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.46 billion. As a group, equities research analysts expect that PACS Group, Inc. will post 2.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PACS has been the topic of a number of recent research reports. Zacks Research downgraded PACS Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 9th. JPMorgan Chase & Co. boosted their price target on PACS Group from $47.00 to $58.00 and gave the company an "overweight" rating in a research note on Friday, September 4th. Oppenheimer boosted their price target on PACS Group from $48.00 to $57.00 and gave the company an "outperform" rating in a research note on Monday, August 10th. Truist Financial reaffirmed a "buy" rating and set a $65.00 price target (up from $62.00) on shares of PACS Group in a research report on Thursday, November 5th. Finally, Royal Bank Of Canada increased their price objective on shares of PACS Group from $52.00 to $57.00 and gave the stock an "outperform" rating in a research note on Thursday, August 6th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $61.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PACS. Dimensional Fund Advisors LP increased its stake in shares of PACS Group by 370.2% in 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. Bank of New York Mellon Corp bought a new stake in PACS Group during the second quarter valued at about $8,196,000. Principal Financial Group Inc. bought a new stake in PACS Group during the first quarter valued at about $3,171,000. Arrowstreet Capital Limited Partnership grew its holdings in PACS Group by 44.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 288,718 shares of the company's stock valued at $9,274,000 after purchasing an additional 89,067 shares during the period. Finally, Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in PACS Group in the third quarter worth about $1,920,000.

PACS Group Company Profile

PACS Group, Inc. is a post-acute healthcare provider that operates skilled nursing and rehabilitation facilities. Its services include nursing care, physical and occupational therapy, and support for patients recovering from illness or injury, as well as care for people with ongoing or long-term needs. Founded in 2013, the company has expanded its network of facilities across the United States. Its operations are organized through affiliated entities, with care and services tailored to the needs of residents and patients in the communities it serves.

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