22,005 Shares in PACS Group, Inc. $PACS Acquired by Ellsworth Advisors LLC

Ellsworth Advisors LLC acquired a new position in PACS Group, Inc. (NYSE:PACS) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 22,005 shares of the company’s stock, valued at approximately $914,000.

Other hedge funds have also recently made changes to their positions in the company. Financial Management Professionals Inc. grew its holdings in shares of PACS Group by 54.9% in the second quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock worth $28,000 after purchasing an additional 235 shares during the last quarter. GK Wealth Management LLC bought a new stake in PACS Group during the 3rd quarter valued at $41,000. KBC Group NV bought a new stake in PACS Group during the 1st quarter valued at $42,000. Western Wealth Management LLC purchased a new stake in PACS Group during the 1st quarter valued at $48,000. Finally, Toth Financial Advisory Corp boosted its holdings in shares of PACS Group by 87.5% during the third quarter. Toth Financial Advisory Corp now owns 1,500 shares of the company’s stock worth $62,000 after purchasing an additional 700 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PACS. UBS Group raised their price target on PACS Group from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen cut shares of PACS Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings upgraded PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. JPMorgan Chase & Co. boosted their price objective on shares of PACS Group from $47.00 to $58.00 and gave the stock an “overweight” rating in a research note on Friday, September 4th. Finally, Royal Bank Of Canada boosted their price objective on shares of PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $58.80.

Insider Transactions at PACS Group

In other news, Director Mark Hancock sold 155,682 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $42.47, for a total transaction of $6,611,814.54. Following the completion of the transaction, the director directly owned 53,518,884 shares of the company’s stock, valued at $2,272,947,003.48. The trade was a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jason Murray sold 717 shares of the stock in a transaction that occurred on Wednesday, October 7th. The shares were sold at an average price of $42.48, for a total transaction of $30,458.16. Following the transaction, the chief executive officer owned 54,435,249 shares in the company, valued at approximately $2,312,409,377.52. This trade represents a 0.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,026,283 shares of company stock worth $44,748,389 over the last three months. 70.10% of the stock is currently owned by company insiders.

PACS Group Trading Up 6.2%

Shares of NYSE PACS opened at $47.77 on Friday. The firm’s 50 day moving average price is $43.61 and its 200-day moving average price is $40.37. PACS Group, Inc. has a 52-week low of $10.31 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. The company has a market cap of $7.56 billion, a PE ratio of 23.93, a P/E/G ratio of 1.40 and a beta of -0.08.

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

About PACS Group

PACS Group, Inc is a healthcare services company that operates skilled nursing and other post-acute care facilities in the United States. Its facilities provide services for patients who require medical care, rehabilitation, recovery support, or assistance with daily activities following hospitalization or other acute health events.

The company’s services generally include skilled nursing, physical and occupational therapy, speech therapy, long-term care, short-term rehabilitation, and other specialized post-acute programs.