Insider Selling: PACS Group (NYSE:PACS) COO Sells 40,000 Shares of Stock

PACS Group, Inc. (NYSE:PACS) COO Joshua Jergensen sold 40,000 shares of the stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $43.13, for a total transaction of $1,725,200.00. Following the sale, the chief operating officer owned 2,496,320 shares in the company, valued at $107,666,281.60. This represents a 1.58% decrease in their position. The transaction was disclosed in a filing with the SEC, 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, August 12th, Joshua Jergensen sold 40,000 shares of PACS Group stock. The shares were sold at an average price of $45.59, for a total transaction of $1,823,600.00.

PACS Group Price Performance

NYSE PACS traded down $0.53 on Thursday, hitting $42.19. 706,732 shares of the company’s stock were exchanged, compared to its average volume of 905,395. The stock has a 50-day moving average of $44.69 and a 200-day moving average of $39.14. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. PACS Group, Inc. has a 52 week low of $10.31 and a 52 week high of $49.49. The stock has a market cap of $6.68 billion, a price-to-earnings ratio of 24.53, a P/E/G ratio of 1.31 and a beta of -0.13.

PACS Group (NYSE:PACS) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.09. PACS Group had a return on equity of 29.55% and a net margin of 4.85%.The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.41 billion. Analysts expect that PACS Group, Inc. will post 2.13 earnings per share for the current year.

Institutional Trading of PACS Group

A number of hedge funds have recently made changes to their positions in PACS. Tidal Investments LLC bought a new stake in shares of PACS Group during the second quarter worth about $252,000. Engineers Gate Manager LP bought a new position in PACS Group in the 2nd quarter valued at approximately $1,132,000. Integrated Wealth Concepts LLC bought a new position in PACS Group in the 2nd quarter valued at approximately $75,000. Squarepoint Ops LLC boosted its position in PACS Group by 94.7% during the 2nd quarter. Squarepoint Ops LLC now owns 59,523 shares of the company’s stock worth $2,538,000 after buying an additional 28,945 shares during the period. Finally, Nykredit A S acquired a new stake in PACS Group during the 2nd quarter worth approximately $95,000.

Analysts Set New Price Targets

PACS has been the topic of a number of recent analyst reports. Zacks Research cut PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 9th. JPMorgan Chase & Co. raised their price target on shares of PACS Group from $47.00 to $58.00 and gave the company an “overweight” rating in a research note on Friday, September 4th. UBS Group lifted their price target on shares of PACS Group from $57.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Oppenheimer increased their price objective on shares of PACS Group from $48.00 to $57.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Finally, Weiss Ratings lowered shares of PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $58.80.

PACS Group Company Profile

PACS Group, Inc is a U.S. healthcare services company that operates skilled nursing and post-acute care facilities. Its facilities provide short-term rehabilitation, long-term skilled nursing, nursing care, and related clinical services for patients recovering from illness, injury, surgery, or hospitalization.

The company’s broader care offerings may include assisted living, memory care, behavioral health, and other specialized post-acute services, depending on the facility and market.