PACS Group (NYSE:PACS) Director Sells $273,721.60 in Stock

PACS Group, Inc. (NYSE:PACS) Director Mark Hancock sold 6,080 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $45.02, for a total value of $273,721.60. Following the transaction, the director owned 54,100,804 shares in the company, valued at approximately $2,435,618,196.08. This represents a 0.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mark Hancock also recently made the following trade(s):

• On Monday, July 6th, Mark Hancock sold 142,163 shares of PACS Group stock. The shares were sold at an average price of $45.33, for a total value of $6,444,248.79.
• On Thursday, July 2nd, Mark Hancock sold 12,825 shares of PACS Group stock. The shares were sold at an average price of $45.01, for a total value of $577,253.25.
• On Friday, June 26th, Mark Hancock sold 61,931 shares of PACS Group stock. The shares were sold at an average price of $40.50, for a total transaction of $2,508,205.50.
• On Thursday, June 25th, Mark Hancock sold 138,069 shares of PACS Group stock. The shares were sold at an average price of $40.33, for a total transaction of $5,568,322.77.
• On Wednesday, June 17th, Mark Hancock sold 63,680 shares of PACS Group stock. The stock was sold at an average price of $35.31, for a total transaction of $2,248,540.80.
• On Tuesday, June 16th, Mark Hancock sold 83,066 shares of PACS Group stock. The shares were sold at an average price of $35.90, for a total transaction of $2,982,069.40.
• On Monday, June 15th, Mark Hancock sold 153,254 shares of PACS Group stock. The shares were sold at an average price of $36.34, for a total transaction of $5,569,250.36.

PACS Group Stock Performance

Shares of PACS opened at $43.93 on Thursday. The company has a 50-day simple moving average of $37.72 and a two-hundred day simple moving average of $36.84. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $6.95 billion, a PE ratio of 28.16, a price-to-earnings-growth ratio of 1.30 and a beta of -0.08. PACS Group, Inc. has a one year low of $7.50 and a one year high of $45.89.

PACS Group (NYSE:PACS) last announced its earnings results on Monday, May 11th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.08. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.36 billion. PACS Group had a return on equity of 26.47% and a net margin of 4.49%. On average, analysts anticipate that PACS Group, Inc. will post 2.23 EPS for the current fiscal year.

Hedge Funds Weigh In On PACS Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Empowered Funds LLC bought a new stake in shares of PACS Group during the 1st quarter valued at $278,000. Western Wealth Management LLC purchased a new position in shares of PACS Group during the 1st quarter valued at about $48,000. Smith Group Asset Management LLC bought a new position in shares of PACS Group during the 1st quarter valued at approximately $771,000. EverSource Wealth Advisors LLC grew its stake in shares of PACS Group by 745.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,064 shares of the company’s stock valued at $163,000 after acquiring an additional 4,465 shares during the period. Finally, California State Teachers Retirement System increased its holdings in PACS Group by 22.4% in the 1st quarter. California State Teachers Retirement System now owns 56,414 shares of the company’s stock worth $1,812,000 after acquiring an additional 10,314 shares in the last quarter.

Analysts Set New Price Targets

PACS has been the subject of a number of analyst reports. Oppenheimer raised their target price on shares of PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Weiss Ratings reissued a “hold (c)” rating on shares of PACS Group in a research note on Wednesday, June 24th. Wall Street Zen upgraded shares of PACS Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 15th. Truist Financial raised their price objective on shares of PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Finally, UBS Group upped their target price on shares of PACS Group from $50.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, PACS Group currently has an average rating of “Moderate Buy” and a consensus price target of $50.60.

PACS Group Company Profile

PACS Group, Inc, through its subsidiaries, operates skilled nursing facilities and assisted living facilities in the United States. The company also provides senior care and independent facilities. It engages in the acquisition, ownership, and leasing of health care-related properties. The company was founded in 2013 and is based in Farmington, Utah.