PACS Group (NYSE:PACS) Stock: Insider Jason Hulse Murray Sells 8,462 Shares

PACS Group, Inc. (NYSE:PACS) CEO Jason Murray sold 8,462 shares of the business’s stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $47.61, for a total value of $402,875.82. Following the sale, the chief executive officer directly owned 54,316,520 shares of the company’s stock, valued at approximately $2,586,009,517.20. This trade represents a 0.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 15th, Jason Murray sold 110,035 shares of PACS Group stock. The stock was sold at an average price of $47.27, for a total value of $5,201,354.45.
• On Wednesday, October 14th, Jason Murray sold 232 shares of PACS Group stock. The stock was sold at an average price of $45.00, for a total value of $10,440.00.
• On Wednesday, October 7th, Jason Murray sold 717 shares of PACS Group stock. The shares were sold at an average price of $42.48, for a total value of $30,458.16.
• On Tuesday, October 6th, Jason Murray sold 35,975 shares of PACS Group stock. The shares were sold at an average price of $43.09, for a total value of $1,550,162.75.
• On Monday, October 5th, Jason Murray sold 24,224 shares of PACS Group stock. The stock was sold at an average price of $42.66, for a total value of $1,033,395.84.
• On Friday, October 2nd, Jason Murray sold 26,052 shares of PACS Group stock. The stock was sold at an average price of $42.51, for a total value of $1,107,470.52.
• On Thursday, October 1st, Jason Murray sold 33,032 shares of PACS Group stock. The stock was sold at an average price of $41.13, for a total transaction of $1,358,606.16.
• On Monday, September 14th, Jason Murray sold 317 shares of PACS Group stock. The shares were sold at an average price of $45.03, for a total transaction of $14,274.51.
• On Friday, September 11th, Jason Murray sold 10,529 shares of PACS Group stock. The shares were sold at an average price of $45.23, for a total transaction of $476,226.67.
• On Thursday, September 10th, Jason Murray sold 8,771 shares of PACS Group stock. The stock was sold at an average price of $45.16, for a total transaction of $396,098.36.

PACS Group Stock Performance

Shares of PACS stock opened at $46.93 on Friday. The company’s fifty day simple moving average is $43.58 and its 200-day simple moving average is $40.42. PACS Group, Inc. has a 52 week low of $10.31 and a 52 week high of $49.49. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. The company has a market cap of $7.43 billion, a PE ratio of 27.28, a P/E/G ratio of 1.46 and a beta of -0.08.

PACS Group (NYSE:PACS) last posted 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 analyst estimates of $1.41 billion. As a group, equities research analysts anticipate that PACS Group, Inc. will post 2.13 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PACS. Truist Financial set a $62.00 target price on PACS Group in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. raised their target price on PACS Group from $47.00 to $58.00 and gave the company an “overweight” rating in a report on Friday, September 4th. Zacks Research lowered PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 9th. UBS Group upped their price target on PACS Group from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Royal Bank Of Canada upped their price target on PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $58.80.

Hedge Funds Weigh In On PACS Group

A number of institutional investors have recently added to or reduced their stakes in PACS. USA Financial Formulas acquired a new stake in shares of PACS Group during the third quarter valued at about $46,000. Ellsworth Advisors LLC purchased a new stake in shares of PACS Group during the third quarter worth about $914,000. State of Alaska Department of Revenue increased its position in shares of PACS Group by 29.0% during the third quarter. State of Alaska Department of Revenue now owns 6,715 shares of the company’s stock worth $279,000 after acquiring an additional 1,511 shares during the last quarter. GK Wealth Management LLC acquired a new position in shares of PACS Group in the third quarter worth about $41,000. Finally, Toth Financial Advisory Corp lifted its stake in shares of PACS Group by 87.5% in the third quarter. Toth Financial Advisory Corp now owns 1,500 shares of the company’s stock worth $62,000 after acquiring an additional 700 shares in the last quarter.

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.

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.