Michelle Renee Lewis Sells 15,000 Shares of PACS Group (NYSE:PACS) Stock

PACS Group, Inc. (NYSE:PACS) CAO Michelle Renee Lewis sold 15,000 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $40.01, for a total value of $600,150.00. Following the sale, the chief accounting officer owned 370,338 shares of the company’s stock, valued at approximately $14,817,223.38. The trade was a 3.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PACS Group Stock Performance

Shares of NYSE PACS opened at $41.79 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $36.40 and its two-hundred day moving average is $36.25. The company has a market cap of $6.61 billion and a P/E ratio of 26.79. PACS Group, Inc. has a 12 month low of $7.50 and a 12 month high of $43.08.

PACS Group (NYSE:PACS) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.08. PACS Group had a return on equity of 26.47% and a net margin of 4.49%.The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.36 billion. On average, equities analysts expect that PACS Group, Inc. will post 2.23 EPS for the current year.

PACS Group News Summary

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

• Positive Sentiment: PACS Group continues to benefit from strong fundamentals after reporting quarterly EPS and revenue above analyst estimates, reinforcing confidence in its senior care business model.
• Positive Sentiment: Wall Street sentiment remains constructive, with multiple analysts rating PACS a Buy or better and consensus target prices above where the shares have recently traded.
• Neutral Sentiment: Insider selling by CAO Michelle Renee Lewis and insider Mark Hancock was disclosed, but both transactions were made under pre-arranged Rule 10b5-1 plans, which usually limits concerns about timing or hidden negative news.
• Neutral Sentiment: Recent articles mentioning “PACS” in political contexts refer to super PACs and are unrelated to PACS Group, Inc. and do not appear to affect the stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PACS shares. UBS Group raised their price target on shares of PACS Group from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Oppenheimer increased their target price on shares of PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Weiss Ratings reissued a “hold (c)” rating on shares of PACS Group in a research report on Wednesday. Zacks Research lowered PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Finally, Truist Financial upped their price target on PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a report on Monday, May 18th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC bought a new stake in PACS Group during the 1st quarter worth approximately $278,000. Western Wealth Management LLC bought a new position in PACS Group in the 1st quarter valued at $48,000. Smith Group Asset Management LLC acquired a new position in PACS Group in the first quarter worth $771,000. EverSource Wealth Advisors LLC boosted its stake in PACS Group by 745.4% in the first quarter. EverSource Wealth Advisors LLC now owns 5,064 shares of the company’s stock worth $163,000 after purchasing an additional 4,465 shares in the last quarter. Finally, California State Teachers Retirement System grew its holdings in shares of PACS Group by 22.4% during the first quarter. California State Teachers Retirement System now owns 56,414 shares of the company’s stock worth $1,812,000 after purchasing an additional 10,314 shares during the last quarter.

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.