PACS Group (NYSE:PACS) Shares Up 4.2% – Here’s Why
by Doug Wharley · The Cerbat GemPACS Group, Inc. (NYSE:PACS – Get Free Report) rose 4.2% on Friday . The company traded as high as $46.40 and last traded at $46.72. Approximately 38,534 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 930,344 shares. The stock had previously closed at $44.82.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on PACS shares. Weiss Ratings raised PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 8th. Oppenheimer upped their price target on PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Truist Financial increased their price target on PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Wall Street Zen upgraded PACS Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 15th. Finally, Zacks Research lowered PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.60.
View Our Latest Stock Report on PACS
PACS Group Stock Performance
The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.99 and a current ratio of 0.99. The stock’s 50 day moving average price is $39.81 and its 200 day moving average price is $37.37. The company has a market capitalization of $7.50 billion, a P/E ratio of 30.44, a price-to-earnings-growth ratio of 1.35 and a beta of -0.08.
PACS Group (NYSE:PACS – Get Free Report) last announced its 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. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.36 billion. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. As a group, equities analysts expect that PACS Group, Inc. will post 2.23 EPS for the current year.
Insider Transactions at PACS Group
In other news, Director Mark Hancock sold 4,966 shares of PACS Group stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $45.06, for a total value of $223,767.96. Following the completion of the transaction, the director directly owned 53,920,512 shares of the company’s stock, valued at approximately $2,429,658,270.72. This trade represents a 0.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michelle Renee Lewis sold 4,137 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $45.04, for a total value of $186,330.48. Following the completion of the transaction, the chief accounting officer directly owned 355,338 shares in the company, valued at $16,004,423.52. This represents a 1.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 796,524 shares of company stock valued at $31,611,396. Company insiders own 70.10% of the company’s stock.
Institutional Investors Weigh In On PACS Group
A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in PACS Group by 14.4% in the fourth quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock valued at $172,994,000 after acquiring an additional 566,502 shares during the period. Crewe Advisors LLC raised its position 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 purchasing an additional 1,035,747 shares during the period. Maven Securities LTD acquired a new position in shares of PACS Group during the fourth quarter worth approximately $960,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of PACS Group in the 1st quarter worth $6,762,000. Finally, Corient Private Wealth LLC lifted its holdings in shares of PACS Group by 29.7% in the 4th quarter. Corient Private Wealth LLC now owns 170,052 shares of the company’s stock worth $6,528,000 after purchasing an additional 38,956 shares in the last quarter.
About PACS Group
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.