PACS Group (NYSE:PACS) CEO Sells 6,899 Shares of Company Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Murray sold 6,899 shares of the company’s stock in a transaction on Wednesday, October 28th. The shares were sold at an average price of $50.10, for a total value of $345,639.90. Following the completion of the sale, the chief executive officer owned 54,181,301 shares in the company, valued at $2,714,483,180.10. This trade represents a 0.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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, October 29th, Jason Murray sold 1,904 shares of PACS Group stock. The stock was sold at an average price of $50.05, for a total value of $95,295.20.
• On Friday, October 23rd, Jason Murray sold 68,917 shares of PACS Group stock. The shares were sold at an average price of $48.60, for a total value of $3,349,366.20.
• On Thursday, October 22nd, Jason Murray sold 13,696 shares of PACS Group stock. The shares were sold at an average price of $47.55, for a total transaction 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 transaction of $314,768.20.
• On Tuesday, October 20th, Jason Murray sold 37,477 shares of PACS Group stock. The stock was sold at an average price of $47.65, for a total transaction of $1,785,779.05.
• On Monday, October 19th, Jason Murray sold 1,620 shares of PACS Group stock. The stock was sold at an average price of $47.57, for a total transaction 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 transaction 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 transaction of $5,201,354.45.
• On Wednesday, October 14th, Jason Murray sold 232 shares of PACS Group stock. The shares were sold at an average price of $45.00, for a total transaction 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 transaction of $30,458.16.

PACS Group Price Performance

Shares of NYSE PACS traded down $1.92 during mid-day trading on Friday, hitting $47.76. 591,191 shares of the stock were exchanged, compared to its average volume of 824,846. The stock’s fifty day simple moving average is $44.21 and its two-hundred day simple moving average is $39.79. PACS Group, Inc. has a twelve month low of $10.31 and a twelve month high of $50.38. The company has a market cap of $7.56 billion, a P/E ratio of 27.77, a PEG ratio of 1.55 and a beta of -0.08. 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 quarterly earnings data on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.09. PACS Group had a return on equity of 29.55% and a net margin of 4.85%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.41 billion. As a group, analysts forecast that PACS Group, Inc. will post 2.13 EPS for the current fiscal year.

Analysts Set New Price Targets

PACS has been the subject of a number of research 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. Royal Bank Of Canada upped their price objective on PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Zacks Research lowered PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 9th. Wall Street Zen cut PACS Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, JPMorgan Chase & Co. boosted their target price on PACS Group from $47.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, September 4th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.80.

Institutional Investors Weigh In On PACS Group

Several institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its stake in shares of PACS Group by 370.2% during the first quarter. Dimensional Fund Advisors LP now owns 780,159 shares of the company’s stock worth $25,051,000 after buying an additional 614,250 shares during the last quarter. Sei Investments Co. raised its position in shares of PACS Group by 7.4% during the 1st quarter. Sei Investments Co. now owns 370,501 shares of the company’s stock valued at $11,900,000 after acquiring an additional 25,462 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of PACS Group by 44.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 288,718 shares of the company’s stock valued at $9,274,000 after acquiring an additional 89,067 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of PACS Group in the 2nd quarter valued at $8,196,000. Finally, Corient Private Wealth LP lifted its stake in shares of PACS Group by 1.8% in the 2nd quarter. Corient Private Wealth LP now owns 152,846 shares of the company’s stock valued at $6,517,000 after purchasing an additional 2,680 shares during the period.

About PACS Group

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.