Insider Selling: PACS Group (NYSE:PACS) CEO Sells $314,768.20 in Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Murray sold 6,610 shares of PACS Group stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $47.62, for a total transaction of $314,768.20. Following the completion of the transaction, the chief executive officer owned 54,270,813 shares in the company, valued at approximately $2,584,376,115.06. This trade represents a 0.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jason Hulse Murray also recently made the following trade(s):

• On Tuesday, October 20th, Jason Murray sold 37,477 shares of PACS Group stock. The shares were sold at an average price of $47.65, for a total value of $1,785,779.05.
• On Monday, October 19th, Jason Murray sold 1,620 shares of PACS Group stock. The shares were sold at an average price of $47.57, for a total value of $77,063.40.
• On Friday, October 16th, Jason Murray sold 8,462 shares of PACS Group stock. The stock was sold at an average price of $47.61, for a total transaction of $402,875.82.
• On Thursday, October 15th, Jason Murray sold 110,035 shares of PACS Group stock. The stock was sold at an average price of $47.27, for a total transaction of $5,201,354.45.
• On Wednesday, October 14th, Jason Murray sold 232 shares of PACS Group stock. The shares were sold at an average price of $45.00, for a total value of $10,440.00.
• On Wednesday, October 7th, Jason Murray sold 717 shares of PACS Group stock. The stock was sold at an average price of $42.48, for a total transaction of $30,458.16.
• On Tuesday, October 6th, Jason Murray sold 35,975 shares of PACS Group stock. The shares were sold at an average price of $43.09, for a total transaction of $1,550,162.75.
• On Monday, October 5th, Jason Murray sold 24,224 shares of PACS Group stock. The shares were sold at an average price of $42.66, for a total value of $1,033,395.84.
• On Friday, October 2nd, Jason Murray sold 26,052 shares of PACS Group stock. The shares were sold at an average price of $42.51, for a total transaction of $1,107,470.52.
• On Thursday, October 1st, Jason Murray sold 33,032 shares of PACS Group stock. The shares were sold at an average price of $41.13, for a total value of $1,358,606.16.

PACS Group Trading Up 0.3%

Shares of PACS stock opened at $47.64 on Friday. PACS Group, Inc. has a 12 month low of $10.31 and a 12 month high of $49.49. The company has a market cap of $7.54 billion, a PE ratio of 25.27, a price-to-earnings-growth ratio of 1.48 and a beta of -0.08. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $43.72 and its two-hundred day moving average is $40.96.

PACS Group (NYSE:PACS) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.09. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.41 billion. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. Equities analysts predict that PACS Group, Inc. will post 2.13 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on PACS. Weiss Ratings raised PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. UBS Group upped their price target on PACS Group from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Royal Bank Of Canada raised their price objective on shares of PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. raised their price target on shares of PACS Group from $47.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, September 4th. Finally, Oppenheimer boosted their price objective on shares of PACS Group from $48.00 to $57.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $58.80.

Institutional Trading of PACS Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PACS. Squarepoint Ops LLC raised its stake in PACS Group by 94.7% during the second quarter. Squarepoint Ops LLC now owns 59,523 shares of the company’s stock worth $2,538,000 after acquiring an additional 28,945 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of PACS Group during the second quarter valued at $1,893,000. Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in shares of PACS Group in the 3rd quarter valued at $1,920,000. Engineers Gate Manager LP bought a new stake in shares of PACS Group in the 2nd quarter worth about $1,132,000. Finally, Smith Group Asset Management LLC bought a new stake in shares of PACS Group in the 1st quarter worth about $771,000.

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.