Michelle Renee Lewis Sells 6,663 Shares of PACS Group (NYSE:PACS) Stock

PACS Group, Inc. (NYSE:PACS) CAO Michelle Renee Lewis sold 6,663 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $45.03, for a total value of $300,034.89. Following the transaction, the chief accounting officer directly owned 359,475 shares in the company, valued at approximately $16,187,159.25. This represents a 1.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michelle Renee Lewis also recently made the following trade(s):

• On Monday, July 6th, Michelle Renee Lewis sold 4,137 shares of PACS Group stock. The stock was sold at an average price of $45.04, for a total value of $186,330.48.
• On Wednesday, July 1st, Michelle Renee Lewis sold 4,200 shares of PACS Group stock. The shares were sold at an average price of $45.01, for a total transaction of $189,042.00.
• On Thursday, June 25th, Michelle Renee Lewis sold 15,000 shares of PACS Group stock. The shares were sold at an average price of $40.01, for a total transaction of $600,150.00.

PACS Group Price Performance

PACS Group stock opened at $43.47 on Wednesday. PACS Group, Inc. has a 12-month low of $7.50 and a 12-month high of $45.89. 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 firm has a 50-day moving average price of $37.55 and a 200-day moving average price of $36.78. The firm has a market capitalization of $6.88 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 1.35 and a beta of -0.08.

PACS Group (NYSE:PACS) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.42 by $0.08. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.36 billion. As a group, equities research analysts forecast that PACS Group, Inc. will post 2.23 EPS for the current year.

Institutional Trading of PACS Group

A number of large investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC bought a new position in PACS Group in the first quarter worth approximately $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in PACS Group by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the company’s stock valued at $262,000 after purchasing an additional 1,443 shares in the last quarter. Millennium Management LLC raised its position in PACS Group by 68.3% during the 1st quarter. Millennium Management LLC now owns 859,295 shares of the company’s stock valued at $9,658,000 after purchasing an additional 348,743 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of PACS Group in the 1st quarter worth $64,000. Finally, Caxton Associates LLP purchased a new stake in shares of PACS Group in the 1st quarter worth $163,000.

Key Headlines Impacting PACS Group

Here are the key news stories impacting PACS Group this week:

• Positive Sentiment: PACS Group recently set a new 1-year high, reflecting continued momentum in the shares after a strong run. PACS Group Sets New 1-Year High – Still a Buy?
• Positive Sentiment: The company’s last earnings report beat expectations, with EPS and revenue coming in above consensus, which supports the bullish case for the stock. PACS Group stock overview
• Neutral Sentiment: Wall Street’s overall view remains favorable, with a consensus Moderate Buy rating and a price target around $48, though some analysts have recently been mixed on the name. PACS Group stock overview
• Negative Sentiment: Director Mark Hancock sold 142,163 shares in a pre-arranged Rule 10b5-1 plan, a large transaction that may raise concerns about insider confidence even though it was scheduled. PACS Group (NYSE:PACS) Director Sells 142,163 Shares
• Negative Sentiment: Chief Accounting Officer Michelle Renee Lewis also sold additional shares this week under a 10b5-1 plan, adding to the cluster of insider sales and potentially weighing on sentiment. PACS Group insider trading update

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Truist Financial raised their price target on PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Oppenheimer upped their price objective on PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Zacks Research lowered PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of PACS Group in a research report on Wednesday, June 24th. Finally, Wall Street Zen raised shares of PACS Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 15th. 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.com, the stock has an average rating of “Moderate Buy” and an average target price of $48.00.

PACS Group Company Profile

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.