Jason Hulse Murray Sells 23,783 Shares of PACS Group (NYSE:PACS) Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Murray sold 23,783 shares of PACS Group stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $42.94, for a total transaction of $1,021,242.02. Following the completion of the sale, the chief executive officer directly owned 54,646,926 shares of the company’s stock, valued at approximately $2,346,539,002.44. This trade represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through 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, September 3rd, Jason Murray sold 20,173 shares of PACS Group stock. The stock was sold at an average price of $42.56, for a total value of $858,562.88.
• On Tuesday, September 1st, Jason Murray sold 24,157 shares of PACS Group stock. The stock was sold at an average price of $42.39, for a total value of $1,024,015.23.
• On Friday, August 21st, Jason Murray sold 59,244 shares of PACS Group stock. The shares were sold at an average price of $43.90, for a total transaction of $2,600,811.60.
• On Thursday, August 20th, Jason Murray sold 91,306 shares of PACS Group stock. The stock was sold at an average price of $43.92, for a total transaction of $4,010,159.52.
• On Wednesday, August 19th, Jason Murray sold 84,717 shares of PACS Group stock. The shares were sold at an average price of $44.26, for a total transaction of $3,749,574.42.
• On Tuesday, August 18th, Jason Murray sold 66,797 shares of PACS Group stock. The shares were sold at an average price of $44.18, for a total value of $2,951,091.46.
• On Monday, August 17th, Jason Murray sold 84,602 shares of PACS Group stock. The stock was sold at an average price of $44.16, for a total value of $3,736,024.32.

PACS Group Stock Performance

Shares of PACS opened at $42.54 on Friday. The firm has a market capitalization of $6.73 billion, a P/E ratio of 24.73, a P/E/G ratio of 1.22 and a beta of -0.13. PACS Group, Inc. has a 52 week low of $7.50 and a 52 week high of $49.49. The stock has a 50 day moving average price of $44.66 and a two-hundred day moving average price of $38.92. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 0.91.

PACS Group (NYSE:PACS) last posted its earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.09. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.41 billion. PACS Group had a return on equity of 29.55% and a net margin of 4.85%. Equities analysts forecast that PACS Group, Inc. will post 2.36 earnings per share for the current fiscal year.

Key PACS Group News

Here are the key news stories impacting PACS Group this week:

• Positive Sentiment: JPMorgan raised its price target to $58. JPMorgan Chase upgraded PACS to “overweight” from its prior stance and increased its target from $47, implying substantial upside from recent trading levels. The revision adds to a generally favorable analyst outlook for the skilled-nursing operator.
• Positive Sentiment: Florida expansion broadens PACS’s operating footprint. The company plans to enter Florida through the acquisition of 32 nursing facilities, giving it a presence in a new state and potentially creating additional revenue and operating-scale opportunities. PACS Group Florida expansion and Eduro closings
• Positive Sentiment: Eduro acquisition progress supports growth. PACS has closed on 31 of 34 Eduro buildings, advancing its acquisition-led expansion strategy. UBS characterized the Florida transaction as supportive of the company’s broader market expansion plans. PACS Group Eduro acquisition update
• Neutral Sentiment: CEO selling appears planned rather than discretionary. CEO Jason Murray sold a combined 68,113 shares for approximately $2.9 million from September 1–3. The transactions were conducted under a pre-arranged Rule 10b5-1 plan and reduced his holdings by only about 0.12%, limiting their significance as a bearish signal. He still owns roughly 54.6 million shares. PACS Group CEO SEC Form 4 filing

Institutional Trading of PACS Group

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in PACS Group by 14.4% in the 4th quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock worth $172,994,000 after acquiring an additional 566,502 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of PACS Group during the 1st quarter valued at approximately $3,171,000. Smith Group Asset Management LLC bought a new position in shares of PACS Group in the first quarter worth $771,000. Maven Securities LTD bought a new position in PACS Group in the 4th quarter worth about $960,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of PACS Group in the first quarter valued at approximately $6,762,000.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of PACS Group from $47.00 to $58.00 and gave the stock an “overweight” rating in a research note on Friday. Truist Financial set a $62.00 price objective on shares of PACS Group in a research report on Wednesday. Weiss Ratings lowered shares of PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Wall Street Zen cut shares of PACS Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Oppenheimer boosted their target price on PACS Group from $48.00 to $57.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $58.80.

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.