PACS Group (NYSE:PACS) CAO Sells $186,330.48 in Stock

PACS Group, Inc. (NYSE:PACS) CAO Michelle Renee Lewis sold 4,137 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $45.04, for a total transaction of $186,330.48. Following the completion of the sale, the chief accounting officer owned 355,338 shares of the company’s stock, valued at $16,004,423.52. This trade represents a 1.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michelle Renee Lewis also recently made the following trade(s):

• On Thursday, July 2nd, Michelle Renee Lewis sold 6,663 shares of PACS Group stock. The stock was sold at an average price of $45.03, for a total transaction of $300,034.89.
• On Wednesday, July 1st, Michelle Renee Lewis sold 4,200 shares of PACS Group stock. The shares were sold at an average price of $45.01, for a total transaction of $189,042.00.
• On Thursday, June 25th, Michelle Renee Lewis sold 15,000 shares of PACS Group stock. The shares were sold at an average price of $40.01, for a total transaction of $600,150.00.

PACS Group Price Performance

Shares of NYSE:PACS opened at $43.93 on Thursday. The business’s 50 day simple moving average is $37.72 and its 200-day simple moving average is $36.84. The firm has a market capitalization of $6.95 billion, a price-to-earnings ratio of 28.16, a price-to-earnings-growth ratio of 1.30 and a beta of -0.08. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.99 and a quick ratio of 0.99. PACS Group, Inc. has a 12 month low of $7.50 and a 12 month high of $45.89.

PACS Group (NYSE:PACS) last released its quarterly earnings results on Monday, May 11th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.08. PACS Group had a return on equity of 26.47% and a net margin of 4.49%.The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.36 billion. As a group, equities analysts forecast that PACS Group, Inc. will post 2.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PACS has been the subject of a number of research analyst reports. Wall Street Zen upgraded PACS Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 15th. Truist Financial increased their price objective on shares of PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, May 18th. UBS Group raised their target price on shares of PACS Group from $50.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday. Zacks Research cut shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Finally, Oppenheimer upped their price target on shares of PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, PACS Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.60.

Institutional Trading of PACS Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in PACS Group by 14.4% in the 4th quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock valued at $172,994,000 after purchasing an additional 566,502 shares during the last quarter. Alyeska Investment Group L.P. boosted its stake in shares of PACS Group by 159.5% during the 4th 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 last quarter. Crewe Advisors LLC grew its holdings in shares of PACS Group by 93.1% during the fourth quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company’s stock worth $82,455,000 after buying an additional 1,035,747 shares in the last quarter. Balyasny Asset Management L.P. raised its position in shares of PACS Group by 67.3% in the third quarter. Balyasny Asset Management L.P. now owns 1,356,240 shares of the company’s stock valued at $18,621,000 after buying an additional 545,348 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of PACS Group by 19.6% in the third quarter. Ameriprise Financial Inc. now owns 1,350,551 shares of the company’s stock valued at $18,543,000 after buying an additional 220,939 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.