Michelle Renee Lewis Sells 4,137 Shares of PACS Group (NYSE:PACS) Stock

PACS Group, Inc. (NYSE:PACS) CAO Michelle Renee Lewis sold 4,137 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $45.04, for a total value of $186,330.48. Following the sale, the chief accounting officer directly owned 355,338 shares of the company’s stock, valued at approximately $16,004,423.52. This represents a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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, July 2nd, Michelle Renee Lewis sold 6,663 shares of PACS Group stock. The stock was sold at an average price of $45.03, for a total value of $300,034.89.
• 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 value 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 value 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 debt-to-equity ratio of 0.27, a current ratio of 0.99 and a quick ratio of 0.99. The business has a 50 day simple moving average of $37.55 and a 200-day simple moving average of $36.78. The stock 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 posted its quarterly earnings data on Monday, May 11th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.36 billion. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. Equities analysts predict that PACS Group, Inc. will post 2.23 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of PACS Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 15th. Truist Financial raised their price objective on shares of PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Oppenheimer lifted their price objective on PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Zacks Research cut PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of PACS Group in a research note on Wednesday, June 24th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, PACS Group presently has an average rating of “Moderate Buy” and an average price target of $48.00.

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

Hedge Funds Weigh In On PACS Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC acquired a new stake in shares of PACS Group in the first quarter valued at about $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in PACS Group by 6.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the company’s stock worth $262,000 after buying an additional 1,443 shares in the last quarter. Millennium Management LLC increased its holdings in PACS Group by 68.3% in the first quarter. Millennium Management LLC now owns 859,295 shares of the company’s stock valued at $9,658,000 after buying an additional 348,743 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of PACS Group during the 1st quarter valued at approximately $64,000. Finally, Caxton Associates LLP acquired a new stake in shares of PACS Group during the 1st quarter valued at approximately $163,000.

About PACS Group

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.