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

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

PACS Group Stock Performance

PACS stock opened at $41.79 on Friday. PACS Group, Inc. has a one year low of $7.50 and a one year high of $43.08. The firm has a market cap of $6.61 billion and a price-to-earnings ratio of 26.79. 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 50-day simple moving average of $36.40 and a two-hundred day simple moving average of $36.25.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on PACS shares. Truist Financial raised their price target on PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Zacks Research cut shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Royal Bank Of Canada upped their price target on shares of PACS Group from $47.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. 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 report on Wednesday, March 4th. Finally, Wall Street Zen raised shares of PACS Group from a “buy” rating to a “strong-buy” rating in a report on Monday, June 15th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $48.00.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in PACS Group by 14.4% in the fourth quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock valued at $172,994,000 after purchasing an additional 566,502 shares during the last quarter. Alyeska Investment Group L.P. raised its stake in shares of PACS Group by 159.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company’s stock valued at $86,378,000 after buying an additional 1,382,984 shares during the last quarter. Crewe Advisors LLC lifted its holdings in shares of PACS Group by 93.1% in the 4th quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company’s stock valued at $82,455,000 after buying an additional 1,035,747 shares during the period. Royce & Associates LP boosted its stake in shares of PACS Group by 76.6% in the third quarter. Royce & Associates LP now owns 1,859,070 shares of the company’s stock worth $25,525,000 after buying an additional 806,446 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its stake in shares of PACS Group by 67.3% in the third quarter. Balyasny Asset Management L.P. now owns 1,356,240 shares of the company’s stock worth $18,621,000 after buying an additional 545,348 shares during the last quarter.

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.