PACS Group (NYSE:PACS) Insider Sells $2,006,049.26 in Stock

PACS Group, Inc. (NYSE:PACS) insider John Todd Mitchell sold 52,763 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $38.02, for a total transaction of $2,006,049.26. Following the sale, the insider directly owned 830,955 shares of the company’s stock, valued at approximately $31,592,909.10. The trade was a 5.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

John Todd Mitchell also recently made the following trade(s):

• On Monday, May 18th, John Todd Mitchell sold 27,389 shares of PACS Group stock. The shares were sold at an average price of $37.16, for a total transaction of $1,017,775.24.

PACS Group Stock Performance

PACS stock opened at $37.72 on Friday. The firm has a market cap of $5.97 billion, a price-to-earnings ratio of 24.18, a PEG ratio of 1.13 and a beta of -0.03. The firm has a 50-day simple moving average of $34.51 and a two-hundred day simple moving average of $33.50. PACS Group, Inc. has a one year low of $7.50 and a one year high of $43.08. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.99 and a current ratio of 0.99.

PACS Group (NYSE:PACS) last released its quarterly earnings results on Monday, May 11th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.42 by $0.08. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.36 billion. On average, equities analysts forecast that PACS Group, Inc. will post 2.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PACS Group in a report on Friday, March 27th. Wall Street Zen upgraded PACS Group from a “hold” rating to a “buy” rating in a research note on Sunday, May 10th. Royal Bank Of Canada increased their price target on PACS Group from $47.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. UBS Group increased their price target on PACS Group from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Finally, Oppenheimer increased their price target on PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.00.

Hedge Funds Weigh In On PACS Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PACS. Cubist Systematic Strategies LLC purchased a new position in PACS Group in the 1st quarter worth $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in PACS Group by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the company’s stock worth $262,000 after acquiring an additional 1,443 shares during the last quarter. Millennium Management LLC raised its stake in PACS Group by 68.3% in the 1st quarter. Millennium Management LLC now owns 859,295 shares of the company’s stock worth $9,658,000 after acquiring an additional 348,743 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in PACS Group in the 1st quarter worth $64,000. Finally, Caxton Associates LLP purchased a new position in PACS Group in the 1st quarter worth $163,000.

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.