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

PACS Group, Inc. (NYSE:PACS) COO Joshua Jergensen sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $45.59, for a total transaction of $1,823,600.00. Following the sale, the chief operating officer owned 2,536,320 shares of the company’s stock, valued at approximately $115,630,828.80. This represents a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PACS Group Stock Down 0.8%

Shares of PACS Group stock opened at $44.63 on Friday. The company has a 50-day simple moving average of $42.64 and a two-hundred day simple moving average of $38.18. The stock has a market capitalization of $7.06 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 1.27 and a beta of -0.08. PACS Group, Inc. has a 52-week low of $7.50 and a 52-week high of $49.49. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 0.91.

PACS Group (NYSE:PACS) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.09. The firm had revenue of $1.43 billion for 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%. On average, analysts anticipate that PACS Group, Inc. will post 2.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on PACS shares. Weiss Ratings downgraded PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Oppenheimer boosted their price target on PACS Group from $48.00 to $57.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Truist Financial upped their price target on PACS Group from $52.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Royal Bank Of Canada boosted their target price on PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Finally, Zacks Research upgraded shares of PACS Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $56.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of PACS Group by 14.4% in the fourth quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock worth $172,994,000 after buying an additional 566,502 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in PACS Group during the first quarter valued at approximately $3,171,000. Maven Securities LTD purchased a new stake in PACS Group during the fourth quarter valued at approximately $960,000. Smith Group Asset Management LLC bought a new position in PACS Group in the first quarter worth approximately $771,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in PACS Group in the first quarter worth approximately $6,762,000.

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.