PACS Group (NYSE:PACS) COO Joshua Jergensen Sells 40,000 Shares of Stock

PACS Group, Inc. (NYSE:PACS) COO Joshua Jergensen sold 40,000 shares of the stock in a transaction that occurred on Wednesday, October 14th. The shares were sold at an average price of $44.50, for a total transaction of $1,780,000.00. Following the sale, the chief operating officer directly owned 2,456,320 shares of the company’s stock, valued at $109,306,240. This represents a 1.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Joshua Jergensen also recently made the following trade(s):

• On Wednesday, September 16th, Joshua Jergensen sold 40,000 shares of PACS Group stock. The stock was sold at an average price of $43.13, for a total value of $1,725,200.00.
• On Wednesday, August 12th, Joshua Jergensen sold 40,000 shares of PACS Group stock. The stock was sold at an average price of $45.59, for a total value of $1,823,600.00.

PACS Group Stock Down 1.7%

NYSE PACS traded down $0.82 on Friday, hitting $46.93. 958,006 shares of the company were exchanged, compared to its average volume of 803,212. The company has a market cap of $7.43 billion, a PE ratio of 27.28, a PEG ratio of 1.49 and a beta of -0.08. PACS Group, Inc. has a 12 month low of $10.31 and a 12 month high of $49.49. The stock has a fifty day moving average of $43.58 and a 200-day moving average of $40.42. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21.

PACS Group (NYSE:PACS) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.54 by $0.09. PACS Group had a return on equity of 29.55% and a net margin of 4.85%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.41 billion. As a group, analysts forecast that PACS Group, Inc. will post 2.13 earnings per share for the current year.

Key PACS Group News

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

• Positive Sentiment: An analysis suggests that expanding the company’s lease portfolio could reshape the investment case for PACS Group, potentially supporting future growth and increasing investor interest. The article provides a potentially constructive strategic angle, although specific financial details were not included. Lease Expansion Could Reshape The Case For PACS Group Stock
• Neutral Sentiment: PACS shares recently gained 6.2% on above-average volume, indicating strong near-term buying interest. However, Zacks cautioned that the latest earnings-estimate revision trend may not support additional gains in the immediate future, making continuation of the rally uncertain. PACS Group Surges 6.2%: Is This an Indication of Further Gains?
• Negative Sentiment: CEO Jason Murray sold a combined 118,729 shares for approximately $5.60 million, while COO Joshua Jergensen sold 40,000 shares valued at $1.78 million. Such sales can weigh on sentiment because they indicate insider selling near recent highs; however, both executives retained substantial positions, and the transactions were made under pre-arranged trading plans.

Analyst Ratings Changes

PACS has been the topic of a number of research analyst reports. Weiss Ratings raised shares of PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Zacks Research downgraded shares of PACS Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 9th. JPMorgan Chase & Co. lifted their price objective on shares of PACS Group from $47.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, September 4th. Truist Financial set a $62.00 target price on shares of PACS Group in a research note on Wednesday, September 2nd. Finally, UBS Group increased their target price on shares of PACS Group from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $58.80.

Institutional Trading of PACS Group

A number of large investors have recently modified their holdings of PACS. Dimensional Fund Advisors LP boosted its stake in shares of PACS Group by 370.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 780,159 shares of the company’s stock valued at $25,051,000 after purchasing an additional 614,250 shares in the last quarter. Sei Investments Co. lifted its holdings in PACS Group by 7.4% in the first quarter. Sei Investments Co. now owns 370,501 shares of the company’s stock worth $11,900,000 after buying an additional 25,462 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in PACS Group by 44.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 288,718 shares of the company’s stock worth $9,274,000 after buying an additional 89,067 shares during the period. Bank of New York Mellon Corp bought a new stake in PACS Group during the 2nd quarter valued at approximately $8,196,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in PACS Group during the 1st quarter valued at approximately $6,762,000.

PACS Group Company Profile

PACS Group, Inc is a healthcare services company that operates skilled nursing and other post-acute care facilities in the United States. Its facilities provide services for patients who require medical care, rehabilitation, recovery support, or assistance with daily activities following hospitalization or other acute health events.

The company’s services generally include skilled nursing, physical and occupational therapy, speech therapy, long-term care, short-term rehabilitation, and other specialized post-acute programs.