PACS Group (NYSE:PACS) CAO Sells $189,042.00 in Stock

PACS Group, Inc. (NYSE:PACS) CAO Michelle Renee Lewis sold 4,200 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $45.01, for a total transaction of $189,042.00. Following the sale, the chief accounting officer directly owned 366,138 shares in the company, valued at $16,479,871.38. This trade represents a 1.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 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 transaction of $186,330.48.
• On Thursday, July 2nd, Michelle Renee Lewis sold 6,663 shares of PACS Group stock. The shares were sold at an average price of $45.03, for a total value of $300,034.89.
• 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 Trading Up 0.5%

PACS traded up $0.20 on Monday, hitting $44.68. 1,312,827 shares of the company were exchanged, compared to its average volume of 948,595. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a fifty day simple moving average of $37.20 and a two-hundred day simple moving average of $36.64. The stock has a market capitalization of $7.07 billion, a PE ratio of 28.64, a price-to-earnings-growth ratio of 1.33 and a beta of -0.08. PACS Group, Inc. has a 12 month low of $7.50 and a 12 month high of $45.89.

PACS Group (NYSE:PACS) last issued its quarterly earnings data 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 firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.36 billion. Sell-side analysts expect that PACS Group, Inc. will post 2.23 earnings per share for the current year.

Analysts Set New Price Targets

PACS has been the subject of several research analyst reports. Oppenheimer raised their price objective on shares of PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Weiss Ratings restated a “hold (c)” rating on shares of PACS Group in a research note on Wednesday, June 24th. Zacks Research lowered PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Wall Street Zen raised PACS Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 15th. Finally, Truist Financial raised their price objective on PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.00.

Institutional Trading of PACS Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Hollencrest Capital Management purchased a new position in PACS Group during the fourth quarter valued at $27,000. Quarry LP raised its position in shares of PACS Group by 79.5% in the 3rd quarter. Quarry LP now owns 2,388 shares of the company’s stock worth $33,000 after purchasing an additional 1,058 shares during the last quarter. Larson Financial Group LLC boosted its stake in PACS Group by 127.0% in the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $42,000 after purchasing an additional 612 shares in the last quarter. KBC Group NV purchased a new stake in PACS Group during the 1st quarter valued at about $42,000. Finally, Western Wealth Management LLC bought a new stake in PACS Group during the 1st quarter valued at about $48,000.

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.