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

PACS Group, Inc. (NYSE:PACS) COO Joshua Jergensen sold 40,000 shares of the business’s stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $44.50, for a total value of $1,780,000.00. Following the sale, the chief operating officer owned 2,456,320 shares in the company, valued at $109,306,240. This represents a 1.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 shares were 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 shares were sold at an average price of $45.59, for a total value of $1,823,600.00.

PACS Group Trading Down 1.7%

Shares of NYSE:PACS traded down $0.82 during midday trading on Friday, hitting $46.93. 958,006 shares of the stock were exchanged, compared to its average volume of 895,386. The business’s 50-day moving average price is $43.61 and its 200 day moving average price is $40.37. PACS Group, Inc. has a 12 month low of $10.31 and a 12 month high of $49.49. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $7.43 billion, a price-to-earnings ratio of 27.28, a P/E/G ratio of 1.40 and a beta of -0.08.

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

Hedge Funds Weigh In On PACS Group

A number of hedge funds and other institutional investors have recently made changes to their positions in PACS. Ellsworth Advisors LLC acquired a new stake in PACS Group during the 3rd quarter valued at approximately $914,000. State of Alaska Department of Revenue lifted its position in shares of PACS Group by 29.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 6,715 shares of the company’s stock worth $279,000 after purchasing an additional 1,511 shares during the period. GK Wealth Management LLC acquired a new position in shares of PACS Group in the 3rd quarter worth approximately $41,000. Toth Financial Advisory Corp lifted its position in shares of PACS Group by 87.5% in the 3rd quarter. Toth Financial Advisory Corp now owns 1,500 shares of the company’s stock worth $62,000 after purchasing an additional 700 shares during the period. Finally, Tidal Investments LLC bought a new stake in shares of PACS Group in the 2nd quarter valued at $252,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Truist Financial set a $62.00 price target on shares of PACS Group in a research note on Wednesday, September 2nd. Royal Bank Of Canada boosted their price objective on shares of PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Weiss Ratings upgraded PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Oppenheimer increased their price objective on PACS Group from $48.00 to $57.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Finally, Zacks Research lowered PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 9th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.80.

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.