PACS Group (NYSE:PACS) Stock: Insider Joshua Jergensen Sells 40,000 Shares

PACS Group, Inc. (NYSE:PACS) COO Joshua Jergensen sold 40,000 shares of the stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $50.11, for a total transaction of $2,004,400.00. Following the transaction, the chief operating officer directly owned 2,416,320 shares of the company’s stock, valued at $121,081,795.20. This represents a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a filing 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.

Joshua Jergensen also recently made the following trade(s):

• On Wednesday, October 14th, Joshua Jergensen sold 40,000 shares of PACS Group stock. The shares were sold at an average price of $44.50, for a total transaction of $1,780,000.00.
• On Wednesday, September 16th, Joshua Jergensen sold 40,000 shares of PACS Group stock. The shares were sold at an average price of $43.13, for a total value of $1,725,200.00.

PACS Group Price Performance

Shares of PACS opened at $48.21 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.22. The stock’s 50 day moving average is $45.25 and its two-hundred day moving average is $40.38. PACS Group, Inc. has a twelve month low of $10.31 and a twelve month high of $51.68. The firm has a market capitalization of $7.65 billion, a PE ratio of 21.92, a P/E/G ratio of 1.56 and a beta of -0.14.

PACS Group (NYSE:PACS) last issued its earnings results on Tuesday, November 3rd. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.46 billion. PACS Group had a return on equity of 31.98% and a net margin of 4.87%. Research analysts anticipate that PACS Group, Inc. will post 2.05 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. boosted its stake in shares of PACS Group by 54.9% during the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock worth $28,000 after acquiring an additional 235 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of PACS Group in the 3rd quarter worth approximately $34,000. GK Wealth Management LLC acquired a new stake in shares of PACS Group in the 3rd quarter worth approximately $41,000. USA Financial Formulas acquired a new stake in shares of PACS Group in the 3rd quarter worth approximately $46,000. Finally, KBC Group NV purchased a new position in PACS Group in the 1st quarter valued at approximately $42,000.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PACS. Royal Bank Of Canada upped their price objective on PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Weiss Ratings raised PACS Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, November 4th. JPMorgan Chase & Co. boosted their target price 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. Wall Street Zen lowered shares of PACS Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Oppenheimer upped their price target on shares of PACS Group from $48.00 to $57.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.33.

PACS Group Company Profile

PACS Group, Inc. is a post-acute healthcare provider that operates skilled nursing and rehabilitation facilities. Its services include nursing care, physical and occupational therapy, and support for patients recovering from illness or injury, as well as care for people with ongoing or long-term needs. Founded in 2013, the company has expanded its network of facilities across the United States. Its operations are organized through affiliated entities, with care and services tailored to the needs of residents and patients in the communities it serves.