PACS Group (NYSE:PACS) Announces Quarterly Earnings Results

PACS Group (NYSE:PACS) issued its earnings results on Tuesday. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05, FiscalAI reports. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. PACS Group had a net margin of 4.85% and a return on equity of 29.55%.

PACS Group Price Performance

Shares of PACS stock traded up $1.01 during trading hours on Tuesday, hitting $46.59. The stock had a trading volume of 800,443 shares, compared to its average volume of 891,746. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $7.37 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 1.53 and a beta of -0.08. PACS Group has a one year low of $10.31 and a one year high of $50.38. The stock’s 50-day moving average price is $44.24 and its two-hundred day moving average price is $39.81.

Wall Street Analyst Weigh In

PACS has been the topic of several research analyst reports. Royal Bank Of Canada increased their price target on PACS Group from $52.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Wall Street Zen lowered PACS Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Truist Financial set a $62.00 price objective on PACS Group in a research report on Wednesday, September 2nd. Oppenheimer increased their target price on PACS Group from $48.00 to $57.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Finally, JPMorgan Chase & Co. raised 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 investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, PACS Group has an average rating of “Moderate Buy” and a consensus target price of $58.80.

Insider Activity

In other PACS Group news, Director Mark Hancock sold 155,682 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $42.47, for a total transaction of $6,611,814.54. Following the completion of the transaction, the director owned 53,518,884 shares in the company, valued at $2,272,947,003.48. The trade was a 0.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jason Murray sold 110,035 shares of PACS Group stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $47.27, for a total transaction of $5,201,354.45. Following the sale, the chief executive officer directly owned 54,324,982 shares of the company’s stock, valued at $2,567,941,899.14. This represents a 0.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,347,267 shares of company stock worth $60,021,034. 70.10% of the stock is currently owned by insiders.

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.