PACS Group (NYSE:PACS) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

PACS Group (NYSE:PACS) issued its earnings results on Tuesday. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05, FiscalAI reports. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.46 billion. PACS Group had a return on equity of 29.55% and a net margin of 4.85%.

PACS Group Price Performance

NYSE PACS traded up $4.96 on Wednesday, reaching $51.63. 487,900 shares of the stock traded hands, compared to its average volume of 889,569. The firm’s fifty day simple moving average is $44.29 and its 200 day simple moving average is $39.85. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. The company has a market cap of $8.17 billion, a price-to-earnings ratio of 29.86, a P/E/G ratio of 1.42 and a beta of -0.14. PACS Group has a 12 month low of $10.31 and a 12 month high of $50.85.

Insider Transactions at PACS Group

In other news, CAO Michelle Lewis sold 2,364 shares of the company’s stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $50.04, for a total value of $118,294.56. Following the completion of the sale, the chief accounting officer owned 343,510 shares in the company, valued at $17,189,240.40. This represents a 0.68% 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. Also, CEO Jason Murray sold 1,904 shares of the firm’s stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $50.05, for a total value of $95,295.20. Following the transaction, the chief executive officer directly owned 54,179,397 shares of the company’s stock, valued at $2,711,678,819.85. This represents a 0.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 1,347,267 shares of company stock valued at $60,021,034. Corporate insiders own 70.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Truist Financial set a $62.00 price target on PACS Group in a report on Wednesday, September 2nd. Weiss Ratings raised shares of PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Zacks Research downgraded PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 9th. Wall Street Zen lowered PACS Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, JPMorgan Chase & Co. lifted their price target on PACS Group from $47.00 to $58.00 and gave the stock an “overweight” rating in a research note on Friday, September 4th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, PACS Group presently has a consensus rating of “Moderate Buy” and an average price target of $58.80.

PACS Group Company Profile

PACS Group, Inc is a U.S.-based healthcare services company that owns and operates post-acute care facilities. Its platform focuses primarily on skilled nursing and transitional care, serving patients who require rehabilitation, recovery support, long-term care, and other services following hospitalization or acute medical treatment.

The company’s operations also include assisted living, independent living, and behavioral health services in select locations. Through its facilities and related healthcare capabilities, PACS Group provides services such as nursing care, physical and occupational therapy, speech therapy, medical treatment, and support for patients with complex or extended care needs.

Founded in 2013 and headquartered in Farmington, Utah, PACS Group serves communities across multiple U.S.