PACS Group (NYSE:PACS) Director Sells $577,253.25 in Stock

PACS Group, Inc. (NYSE:PACS) Director Mark Hancock sold 12,825 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $45.01, for a total transaction of $577,253.25. Following the completion of the transaction, the director directly owned 54,087,979 shares in the company, valued at $2,434,499,934.79. This represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mark Hancock also recently made the following trade(s):

• On Monday, July 6th, Mark Hancock sold 142,163 shares of PACS Group stock. The shares were sold at an average price of $45.33, for a total value of $6,444,248.79.
• On Wednesday, July 1st, Mark Hancock sold 6,080 shares of PACS Group stock. The stock was sold at an average price of $45.02, for a total transaction of $273,721.60.
• On Friday, June 26th, Mark Hancock sold 61,931 shares of PACS Group stock. The stock was sold at an average price of $40.50, for a total transaction of $2,508,205.50.
• On Thursday, June 25th, Mark Hancock sold 138,069 shares of PACS Group stock. The stock was sold at an average price of $40.33, for a total value of $5,568,322.77.
• On Wednesday, June 17th, Mark Hancock sold 63,680 shares of PACS Group stock. The shares were sold at an average price of $35.31, for a total transaction of $2,248,540.80.
• On Tuesday, June 16th, Mark Hancock sold 83,066 shares of PACS Group stock. The stock was sold at an average price of $35.90, for a total transaction of $2,982,069.40.
• On Monday, June 15th, Mark Hancock sold 153,254 shares of PACS Group stock. The shares were sold at an average price of $36.34, for a total transaction of $5,569,250.36.

PACS Group Trading Up 0.5%

Shares of PACS stock traded up $0.20 during trading hours on Monday, hitting $44.68. The company had a trading volume of 1,312,827 shares, compared to its average volume of 948,595. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.99 and a quick ratio of 0.99. 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. The company’s fifty day moving average is $37.20 and its 200 day moving average is $36.64. PACS Group, Inc. has a fifty-two week low of $7.50 and a fifty-two week high of $45.89.

PACS Group (NYSE:PACS) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.50 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.36 billion. Research analysts expect that PACS Group, Inc. will post 2.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On PACS Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Empowered Funds LLC purchased a new position in shares of PACS Group during the first quarter worth about $278,000. Western Wealth Management LLC acquired a new stake in PACS Group during the 1st quarter worth approximately $48,000. Smith Group Asset Management LLC purchased a new position in shares of PACS Group in the 1st quarter valued at approximately $771,000. EverSource Wealth Advisors LLC grew its stake in shares of PACS Group by 745.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,064 shares of the company’s stock valued at $163,000 after purchasing an additional 4,465 shares during the last quarter. Finally, California State Teachers Retirement System increased its holdings in shares of PACS Group by 22.4% in the first quarter. California State Teachers Retirement System now owns 56,414 shares of the company’s stock valued at $1,812,000 after purchasing an additional 10,314 shares during the period.

PACS Group Company Profile

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.