PACS Group (NYSE:PACS) CAO Michelle Renee Lewis Sells 6,663 Shares of Stock

PACS Group, Inc. (NYSE:PACS) CAO Michelle Renee Lewis sold 6,663 shares of PACS Group stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $45.03, for a total transaction of $300,034.89. Following the completion of the transaction, the chief accounting officer directly owned 359,475 shares of the company’s stock, valued at $16,187,159.25. This trade represents a 1.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, July 6th, Michelle Renee Lewis sold 4,137 shares of PACS Group stock. The stock was sold at an average price of $45.04, for a total transaction of $186,330.48.
• On Wednesday, July 1st, Michelle Renee Lewis sold 4,200 shares of PACS Group stock. The stock was 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 value of $600,150.00.

PACS Group Stock Performance

PACS stock traded up $0.20 during midday trading on Monday, reaching $44.68. The company had a trading volume of 1,312,827 shares, compared to its average volume of 948,595. The firm has a market capitalization of $7.07 billion, a PE ratio of 28.64, a P/E/G ratio of 1.33 and a beta of -0.08. The stock has a 50 day moving average price of $37.20 and a 200 day moving average price of $36.64. PACS Group, Inc. has a fifty-two week low of $7.50 and a fifty-two week high of $45.89. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.27.

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

Institutional Investors Weigh In On PACS Group

A number of institutional investors have recently added to or reduced their stakes in PACS. Hollencrest Capital Management acquired a new position in PACS Group during the fourth quarter worth about $27,000. Quarry LP lifted its holdings in PACS Group by 79.5% in the 3rd quarter. Quarry LP now owns 2,388 shares of the company’s stock valued at $33,000 after acquiring an additional 1,058 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of PACS Group by 127.0% during the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $42,000 after purchasing an additional 612 shares in the last quarter. KBC Group NV acquired a new position in shares of PACS Group in the 1st quarter worth approximately $42,000. Finally, Western Wealth Management LLC bought a new stake in shares of PACS Group in the 1st quarter worth approximately $48,000.

Wall Street Analyst Weigh In

Several research firms have recently commented on PACS. Zacks Research lowered shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Wall Street Zen raised shares of PACS Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 15th. Oppenheimer upped their target price on shares of PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Weiss Ratings restated a “hold (c)” rating on shares of PACS Group in a research note on Wednesday, June 24th. Finally, Truist Financial lifted their price target on PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a report on Monday, May 18th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

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.