Jason Hulse Murray Sells 24,157 Shares of PACS Group (NYSE:PACS) Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Murray sold 24,157 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $42.39, for a total transaction of $1,024,015.23. Following the sale, the chief executive officer directly owned 54,670,709 shares in the company, valued at $2,317,491,354.51. This trade represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jason Hulse Murray also recently made the following trade(s):

• On Thursday, September 3rd, Jason Murray sold 20,173 shares of PACS Group stock. The stock was sold at an average price of $42.56, for a total value of $858,562.88.
• On Wednesday, September 2nd, Jason Murray sold 23,783 shares of PACS Group stock. The stock was sold at an average price of $42.94, for a total value of $1,021,242.02.
• On Friday, August 21st, Jason Murray sold 59,244 shares of PACS Group stock. The stock was sold at an average price of $43.90, for a total value of $2,600,811.60.
• On Thursday, August 20th, Jason Murray sold 91,306 shares of PACS Group stock. The stock was sold at an average price of $43.92, for a total transaction of $4,010,159.52.
• On Wednesday, August 19th, Jason Murray sold 84,717 shares of PACS Group stock. The shares were sold at an average price of $44.26, for a total transaction of $3,749,574.42.
• On Tuesday, August 18th, Jason Murray sold 66,797 shares of PACS Group stock. The stock was sold at an average price of $44.18, for a total transaction of $2,951,091.46.
• On Monday, August 17th, Jason Murray sold 84,602 shares of PACS Group stock. The shares were sold at an average price of $44.16, for a total transaction of $3,736,024.32.

PACS Group Stock Performance

PACS stock opened at $42.54 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. PACS Group, Inc. has a twelve month low of $7.50 and a twelve month high of $49.49. The business’s fifty day moving average is $44.66 and its 200-day moving average is $38.92. The company has a market cap of $6.73 billion, a P/E ratio of 24.73, a price-to-earnings-growth ratio of 1.22 and a beta of -0.13.

PACS Group (NYSE:PACS) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.09. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.41 billion. PACS Group had a return on equity of 29.55% and a net margin of 4.85%. Equities research analysts forecast that PACS Group, Inc. will post 2.36 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on PACS. Oppenheimer boosted their price target on shares of PACS Group from $48.00 to $57.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Zacks Research raised PACS Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. JPMorgan Chase & Co. boosted their price objective on PACS Group from $47.00 to $58.00 and gave the company an “overweight” rating in a research report on Friday. UBS Group upped 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. Finally, Weiss Ratings lowered shares of PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $58.80.

Key PACS Group News

Here are the key news stories impacting PACS Group this week:

• Positive Sentiment: JPMorgan raised its price target to $58. JPMorgan Chase upgraded PACS to “overweight” from its prior stance and increased its target from $47, implying substantial upside from recent trading levels. The revision adds to a generally favorable analyst outlook for the skilled-nursing operator.
• Positive Sentiment: Florida expansion broadens PACS’s operating footprint. The company plans to enter Florida through the acquisition of 32 nursing facilities, giving it a presence in a new state and potentially creating additional revenue and operating-scale opportunities. PACS Group Florida expansion and Eduro closings
• Positive Sentiment: Eduro acquisition progress supports growth. PACS has closed on 31 of 34 Eduro buildings, advancing its acquisition-led expansion strategy. UBS characterized the Florida transaction as supportive of the company’s broader market expansion plans. PACS Group Eduro acquisition update
• Neutral Sentiment: CEO selling appears planned rather than discretionary. CEO Jason Murray sold a combined 68,113 shares for approximately $2.9 million from September 1–3. The transactions were conducted under a pre-arranged Rule 10b5-1 plan and reduced his holdings by only about 0.12%, limiting their significance as a bearish signal. He still owns roughly 54.6 million shares. PACS Group CEO SEC Form 4 filing

Institutional Investors Weigh In On PACS Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System raised its holdings in shares of PACS Group by 3,298.3% in the second quarter. California State Teachers Retirement System now owns 1,917,094 shares of the company’s stock valued at $81,745,000 after purchasing an additional 1,860,680 shares during the last quarter. Alyeska Investment Group L.P. grew its holdings in PACS Group by 159.5% during the fourth quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company’s stock worth $86,378,000 after purchasing an additional 1,382,984 shares during the period. Marshall Wace LLP increased its holdings in shares of PACS Group by 348.6% during the 3rd quarter. Marshall Wace LLP now owns 1,010,906 shares of the company’s stock worth $13,880,000 after acquiring an additional 785,537 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of PACS Group by 120.4% in the second quarter. Ameriprise Financial Inc. now owns 1,129,612 shares of the company’s stock valued at $14,595,000 after purchasing an additional 617,124 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of PACS Group by 370.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 780,159 shares of the company’s stock worth $25,051,000 after buying an additional 614,250 shares during the last quarter.

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.