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 business’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $43.13, for a total transaction of $1,725,200.00. Following the completion of the transaction, the chief operating officer directly owned 2,496,320 shares in the company, valued at $107,666,281.60. This represents a 1.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 transaction of $1,823,600.00.

PACS Group Stock Down 1.2%

PACS stock opened at $42.19 on Friday. PACS Group, Inc. has a one year low of $10.31 and a one year high of $49.49. The stock has a market capitalization of $6.68 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 1.33 and a beta of -0.13. 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 company has a fifty day moving average of $44.66 and a 200-day moving average of $39.18.

PACS Group (NYSE:PACS) last issued its earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.41 billion. As a group, analysts expect that PACS Group, Inc. will post 2.13 EPS for the current year.

Institutional Investors Weigh In On PACS Group

A number of hedge funds and other institutional investors have recently modified their holdings of PACS. Financial Management Professionals Inc. increased its position in shares of PACS Group by 54.9% in the second quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock valued at $28,000 after buying an additional 235 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of PACS Group by 127.0% in the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $42,000 after buying an additional 612 shares in the last quarter. KBC Group NV acquired a new stake in PACS Group in the 1st quarter valued at about $42,000. Western Wealth Management LLC acquired a new stake in PACS Group in the 1st quarter valued at about $48,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in PACS Group in the 2nd quarter valued at about $75,000.

Analysts Set New Price Targets

PACS has been the topic of several recent analyst reports. Zacks Research cut PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 9th. Weiss Ratings lowered PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Wall Street Zen cut PACS Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Truist Financial set a $62.00 price objective on PACS Group in a research report on Wednesday, September 2nd. Finally, Oppenheimer raised 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. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $58.80.

About PACS Group

PACS Group, Inc is a U.S. healthcare services company that operates skilled nursing and post-acute care facilities. Its facilities provide short-term rehabilitation, long-term skilled nursing, nursing care, and related clinical services for patients recovering from illness, injury, surgery, or hospitalization.

The company’s broader care offerings may include assisted living, memory care, behavioral health, and other specialized post-acute services, depending on the facility and market.