Insider Selling: PACS Group (NYSE:PACS) CEO Sells $3,349,366.20 in Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Murray sold 68,917 shares of the stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $48.60, for a total value of $3,349,366.20. Following the sale, the chief executive officer owned 54,188,200 shares in the company, valued at approximately $2,633,546,520. This represents a 0.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jason Hulse Murray also recently made the following trade(s):

• On Thursday, October 22nd, Jason Murray sold 13,696 shares of PACS Group stock. The stock was sold at an average price of $47.55, for a total value of $651,244.80.
• On Wednesday, October 21st, Jason Murray sold 6,610 shares of PACS Group stock. The stock was sold at an average price of $47.62, for a total value of $314,768.20.
• On Tuesday, October 20th, Jason Murray sold 37,477 shares of PACS Group stock. The shares were sold at an average price of $47.65, for a total value of $1,785,779.05.
• On Monday, October 19th, Jason Murray sold 1,620 shares of PACS Group stock. The shares were sold at an average price of $47.57, for a total value of $77,063.40.
• On Friday, October 16th, Jason Murray sold 8,462 shares of PACS Group stock. The shares were sold at an average price of $47.61, for a total value of $402,875.82.
• On Thursday, October 15th, Jason Murray sold 110,035 shares of PACS Group stock. The shares were sold at an average price of $47.27, for a total value of $5,201,354.45.
• On Wednesday, October 14th, Jason Murray sold 232 shares of PACS Group stock. The stock was sold at an average price of $45.00, for a total value of $10,440.00.
• On Wednesday, October 7th, Jason Murray sold 717 shares of PACS Group stock. The stock was sold at an average price of $42.48, for a total value of $30,458.16.
• On Tuesday, October 6th, Jason Murray sold 35,975 shares of PACS Group stock. The stock was sold at an average price of $43.09, for a total value of $1,550,162.75.
• On Monday, October 5th, Jason Murray sold 24,224 shares of PACS Group stock. The shares were sold at an average price of $42.66, for a total transaction of $1,033,395.84.

PACS Group Price Performance

PACS opened at $49.08 on Thursday. 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 stock has a market capitalization of $7.77 billion, a P/E ratio of 28.54, a P/E/G ratio of 1.49 and a beta of -0.08. The company’s 50-day simple moving average is $44.02 and its two-hundred day simple moving average is $39.72. PACS Group, Inc. has a 52-week low of $10.31 and a 52-week high of $50.38.

PACS Group (NYSE:PACS) last announced its quarterly earnings results 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 net margin of 4.85% and a return on equity of 29.55%. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.41 billion. As a group, analysts predict that PACS Group, Inc. will post 2.13 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of PACS Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings upgraded shares of PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Royal Bank Of Canada boosted their target price 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. Zacks Research cut PACS Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 9th. Finally, Oppenheimer raised their price target on PACS Group from $48.00 to $57.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $58.80.

Institutional Trading of PACS Group

A number of hedge funds and other institutional investors have recently bought and sold shares of PACS. Financial Management Professionals Inc. raised its stake in PACS Group by 54.9% during the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock worth $28,000 after acquiring an additional 235 shares during the period. GK Wealth Management LLC purchased a new position in PACS Group during the third quarter valued at approximately $41,000. USA Financial Formulas bought a new position in shares of PACS Group in the third quarter worth approximately $46,000. KBC Group NV bought a new position in shares of PACS Group in the first quarter worth approximately $42,000. Finally, Western Wealth Management LLC purchased a new stake in shares of PACS Group in the first quarter worth $48,000.

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.