PACS Group (NYSE:PACS) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

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

PACS Group Stock Performance

Shares of PACS Group stock traded up $1.01 during mid-day trading on Tuesday, hitting $46.59. 799,131 shares of the stock were exchanged, compared to its average volume of 891,718. PACS Group has a 12 month low of $10.31 and a 12 month high of $50.38. The company has a 50-day simple moving average of $44.24 and a 200 day simple moving average of $39.81. The company has a market capitalization of $7.37 billion, a P/E ratio of 27.09, a P/E/G ratio of 1.53 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.

Wall Street Analyst Weigh In

PACS has been the subject of a number of analyst reports. UBS Group increased their price target on PACS Group from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Zacks Research cut PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 9th. JPMorgan Chase & Co. lifted their price objective on shares of PACS Group from $47.00 to $58.00 and gave the stock an “overweight” rating in a report on Friday, September 4th. Oppenheimer upped their target price on shares of PACS Group from $48.00 to $57.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Finally, Royal Bank Of Canada upped their target price 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. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $58.80.

Insider Activity

In related news, COO Joshua Jergensen sold 40,000 shares of PACS Group stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $45.59, for a total transaction of $1,823,600.00. Following the sale, the chief operating officer directly owned 2,536,320 shares in the company, valued at approximately $115,630,828.80. This trade represents a 1.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 on Thursday, October 15th. The stock was sold at an average price of $47.27, for a total value of $5,201,354.45. Following the sale, the chief executive officer owned 54,324,982 shares in the company, valued at $2,567,941,899.14. This trade represents a 0.20% decrease in their ownership of the stock. 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. Insiders sold a total of 1,347,267 shares of company stock valued at $60,021,034 over the last three months. Corporate insiders own 70.10% of the company’s stock.

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.