PACS Group (NYSE:PACS) Sets New 12-Month High - Here's What Happened

Key Points

• PACS Group shares reached a new 52-week high of $49.78, supported by recent momentum; the stock has a market capitalization of approximately $7.75 billion.
• Analyst sentiment remains favorable overall, with five Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $58.80, although Zacks and Wall Street Zen recently reduced their ratings.
• PACS exceeded quarterly expectations, reporting $0.63 in earnings per share versus the $0.54 consensus estimate and revenue of $1.43 billion. Meanwhile, insiders sold about $54.3 million in shares over the past three months, largely through pre-arranged trading plans.

PACS Group, Inc. (NYSE:PACS - Get Free Report)'s stock price reached a new 52-week high on Monday. The company traded as high as $49.78 and last traded at $49.21, with a volume of 294,579 shares changing hands. The stock had previously closed at $47.64.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PACS. UBS Group raised 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. Zacks Research downgraded PACS Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 9th. Oppenheimer increased their price target on PACS Group from $48.00 to $57.00 and gave the stock an "outperform" rating in a research note on Monday, August 10th. Weiss Ratings upgraded PACS Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, October 8th. Finally, Wall Street Zen cut PACS Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 8th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.80.

PACS Group Price Performance

The company's 50 day moving average price is $43.72 and its 200-day moving average price is $41.02. The company has a market capitalization of $7.75 billion, a PE ratio of 28.50, a PEG ratio of 1.49 and a beta of -0.08. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21.

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

Insider Transactions at PACS Group

In other news, COO Joshua Jergensen sold 40,000 shares of PACS Group stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $45.59, for a total value of $1,823,600.00. Following the transaction, the chief operating officer directly owned 2,536,320 shares of the company's stock, valued at $115,630,828.80. The trade was a 1.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jason Murray sold 110,035 shares of the business's stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $47.27, for a total value of $5,201,354.45. Following the sale, the chief executive officer owned 54,324,982 shares of the company's stock, valued at $2,567,941,899.14. The trade was a 0.20% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,230,719 shares of company stock worth $54,320,670 in the last three months. 70.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PACS Group

A number of hedge funds have recently made changes to their positions in 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 valued at $28,000 after purchasing an additional 235 shares in the last quarter. GK Wealth Management LLC acquired a new stake in shares of PACS Group in the third quarter valued at about $41,000. USA Financial Formulas purchased a new stake in shares of PACS Group during the 3rd quarter valued at about $46,000. KBC Group NV purchased a new stake in shares of PACS Group during the 1st quarter valued at about $42,000. Finally, Western Wealth Management LLC purchased a new stake in shares of PACS Group during the 1st quarter valued at about $48,000.

About PACS Group

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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