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

PACS Group, Inc. (NYSE:PACS) COO Joshua Jergensen sold 40,000 shares of the business’s stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $44.50, for a total transaction of $1,780,000.00. Following the completion of the transaction, the chief operating officer owned 2,456,320 shares in the company, valued at approximately $109,306,240. The trade was a 1.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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, September 16th, Joshua Jergensen sold 40,000 shares of PACS Group stock. The shares were sold at an average price of $43.13, for a total transaction of $1,725,200.00.
• On Wednesday, August 12th, Joshua Jergensen sold 40,000 shares of PACS Group stock. The stock was sold at an average price of $45.59, for a total value of $1,823,600.00.

PACS Group Trading Down 1.7%

Shares of PACS stock traded down $0.82 during mid-day trading on Friday, hitting $46.93. The company’s stock had a trading volume of 958,006 shares, compared to its average volume of 895,386. The company’s fifty day simple moving average is $43.61 and its 200-day simple moving average 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 $7.43 billion, a PE ratio of 27.28, a P/E/G ratio of 1.40 and a beta of -0.08.

PACS Group (NYSE:PACS) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.41 billion. As a group, equities research analysts expect that PACS Group, Inc. will post 2.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC boosted its holdings in PACS Group by 94.7% in the second quarter. Squarepoint Ops LLC now owns 59,523 shares of the company’s stock worth $2,538,000 after acquiring an additional 28,945 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in PACS Group in the second quarter valued at approximately $1,893,000. Engineers Gate Manager LP bought a new stake in shares of PACS Group during the second quarter valued at approximately $1,132,000. Smith Group Asset Management LLC bought a new stake in shares of PACS Group during the first quarter valued at approximately $771,000. Finally, Principal Financial Group Inc. acquired a new position in shares of PACS Group during the first quarter worth approximately $3,171,000.

Analyst Ratings Changes

Several analysts have recently commented on PACS shares. Oppenheimer raised their price objective on shares of PACS Group from $48.00 to $57.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Royal Bank Of Canada lifted their price objective on shares of PACS Group from $52.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Wall Street Zen lowered shares of PACS Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Truist Financial set a $62.00 target price on shares of PACS Group in a research note on Wednesday, September 2nd. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, PACS Group presently has a consensus rating of “Moderate Buy” and an average target price of $58.80.

PACS Group Company Profile

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.