PACS Group, Inc. (NYSE:PACS - Get Free Report) CAO Michelle Lewis sold 3,172 shares of the company's stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $50.06, for a total transaction of $158,790.32. Following the completion of the sale, the chief accounting officer owned 340,338 shares in the company, valued at approximately $17,037,320.28. This trade represents a 0.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $118,294.56.
- On Wednesday, October 28th, Michelle Lewis sold 9,464 shares of PACS Group stock. The shares were sold at an average price of $50.12, for a total transaction of $474,335.68.
PACS Group Stock Up 8.5%
Shares of PACS traded up $3.95 during mid-day trading on Wednesday, reaching $50.63. The company had a trading volume of 1,790,293 shares, compared to its average volume of 895,995. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a 50-day moving average price of $44.29 and a 200 day moving average price of $39.85. PACS Group, Inc. has a 52 week low of $10.31 and a 52 week high of $51.68. The company has a market capitalization of $8.01 billion, a price-to-earnings ratio of 29.44, a price-to-earnings-growth ratio of 1.42 and a beta of -0.14.
PACS Group (NYSE:PACS - Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.46 billion. PACS Group had a return on equity of 29.55% and a net margin of 4.85%. On average, sell-side analysts forecast that PACS Group, Inc. will post 2.13 EPS for the current year.
Trending Headlines about PACS Group
Here are the key news stories impacting PACS Group this week:
Analysts Set New Price Targets
PACS has been the subject of several recent analyst reports. UBS Group lifted their target price on shares of PACS Group from $57.00 to $60.00 and gave the stock a "buy" 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 report on Saturday, August 8th. Zacks Research cut shares of PACS Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 9th. Oppenheimer raised their price target 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of PACS Group from $47.00 to $58.00 and gave the stock an "overweight" rating in a report on Friday, September 4th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $58.80.
Get Our Latest Research Report on PACS
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Financial Management Professionals Inc. increased its holdings in PACS Group by 54.9% in the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company's stock worth $28,000 after buying an additional 235 shares in the last quarter. GK Wealth Management LLC purchased a new position in PACS Group in the 3rd quarter worth about $41,000. USA Financial Formulas purchased a new position in PACS Group in the 3rd quarter worth about $46,000. KBC Group NV purchased a new position in PACS Group in the 1st quarter worth about $42,000. Finally, Western Wealth Management LLC purchased a new position in PACS Group in the 1st quarter worth about $48,000.
About PACS Group
(
Get Free Report)
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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