PACS Group, Inc. (NYSE:PACS - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $45.89 and last traded at $44.6830, with a volume of 1312827 shares changing hands. The stock had previously closed at $44.48.
Key PACS Group News
Here are the key news stories impacting PACS Group this week:
- Negative Sentiment: Director Mark Hancock sold 142,163 shares at an average price of $45.33, worth about $6.4 million, in a pre-arranged Rule 10b5-1 plan. The filing follows several other recent sales by Hancock, adding to concerns that insiders may be taking profits after the stock’s strong run. PACS Group NYSE: PACS Director Sells 142,163 Shares
- Neutral Sentiment: Earlier insider transactions also showed Hancock selling 12,825 shares and 6,080 shares, while Chief Accounting Officer Michelle Renee Lewis sold multiple smaller blocks of stock. These trades were also made under pre-arranged plans, so they do not necessarily signal a fundamental change in the business, but they may still pressure sentiment. PACS Group insider trading update
- Neutral Sentiment: The company’s recent earnings and analyst backdrop remain supportive: PACS previously beat EPS and revenue estimates, and analysts maintain a moderate buy rating with a price target around $48. That positive setup may be helping limit downside despite the insider selling. PACS Group stock overview
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on PACS shares. Zacks Research lowered shares of PACS Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 14th. Wall Street Zen upgraded shares of PACS Group from a "buy" rating to a "strong-buy" rating in a research report on Monday, June 15th. Truist Financial raised their price objective on PACS Group from $50.00 to $52.00 and gave the stock a "buy" rating in a research note on Monday, May 18th. Weiss Ratings reiterated a "hold (c)" rating on shares of PACS Group in a report on Wednesday, June 24th. Finally, Oppenheimer increased their price target on PACS Group from $42.00 to $48.00 and gave the stock an "outperform" rating in a report on Wednesday, May 13th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $48.00.
View Our Latest Stock Report on PACS Group
PACS Group Price Performance
The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27. The company has a 50 day simple moving average of $37.39 and a 200 day simple moving average of $36.72. The stock has a market cap of $7.07 billion, a P/E ratio of 28.51, a PEG ratio of 1.33 and a beta of -0.08.
PACS Group (NYSE:PACS - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.08. The company had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.36 billion. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. Sell-side analysts forecast that PACS Group, Inc. will post 2.23 earnings per share for the current fiscal year.
Insider Transactions at PACS Group
In related news, Director Mark Hancock sold 142,163 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $45.33, for a total value of $6,444,248.79. Following the sale, the director owned 53,945,816 shares in the company, valued at approximately $2,445,363,839.28. This represents a 0.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michelle Renee Lewis sold 4,137 shares of the company's stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $45.04, for a total transaction of $186,330.48. Following the completion of the transaction, the chief accounting officer owned 355,338 shares in the company, valued at approximately $16,004,423.52. This trade represents a 1.15% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 771,220 shares of company stock worth $30,470,994. 70.10% of the stock is owned by insiders.
Institutional Trading of PACS Group
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in PACS Group by 14.4% in the fourth quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company's stock valued at $172,994,000 after acquiring an additional 566,502 shares during the last quarter. Alyeska Investment Group L.P. lifted its stake in PACS Group by 159.5% during the fourth quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company's stock worth $86,378,000 after purchasing an additional 1,382,984 shares during the last quarter. Crewe Advisors LLC boosted its holdings in shares of PACS Group by 93.1% in the 4th quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company's stock valued at $82,455,000 after purchasing an additional 1,035,747 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in shares of PACS Group by 67.3% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,356,240 shares of the company's stock valued at $18,621,000 after purchasing an additional 545,348 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of PACS Group by 19.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,350,551 shares of the company's stock valued at $18,543,000 after purchasing an additional 220,939 shares during the last quarter.
About PACS Group
(
Get Free Report)
PACS Group, Inc, through its subsidiaries, operates skilled nursing facilities and assisted living facilities in the United States. The company also provides senior care and independent facilities. It engages in the acquisition, ownership, and leasing of health care-related properties. The company was founded in 2013 and is based in Farmington, Utah.
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