PACS Group (NYSE:PACS – Get Free Report) released its earnings results on Monday. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.08, FiscalAI reports. PACS Group had a net margin of 3.62% and a return on equity of 22.55%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.36 billion.
PACS Group Trading Down 4.6%
Shares of PACS stock traded down $1.53 during trading on Monday, hitting $32.06. 1,004,663 shares of the stock traded hands, compared to its average volume of 910,436. The firm has a market capitalization of $5.04 billion, a P/E ratio of 26.06, a price-to-earnings-growth ratio of 1.02 and a beta of -0.03. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.07 and a quick ratio of 1.07. The firm’s fifty day moving average price is $34.37 and its 200-day moving average price is $31.74. PACS Group has a 52-week low of $7.50 and a 52-week high of $43.08.
Insider Activity at PACS Group
In other news, COO Joshua Jergensen sold 36,335 shares of PACS Group stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $34.28, for a total transaction of $1,245,563.80. Following the sale, the chief operating officer owned 2,667,347 shares of the company’s stock, valued at approximately $91,436,655.16. The trade was a 1.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 70.40% of the company’s stock.
Institutional Trading of PACS Group
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on PACS shares. UBS Group raised their target price on shares of PACS Group from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Royal Bank Of Canada raised their target price on shares of PACS Group from $47.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. Oppenheimer raised their target price on shares of PACS Group from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 4th. Weiss Ratings reissued a “hold (c)” rating on shares of PACS Group in a research note on Friday, March 27th. Finally, Wall Street Zen raised shares of PACS Group from a “hold” rating to a “buy” rating in a research note on Sunday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, PACS Group presently has a consensus rating of “Buy” and a consensus target price of $44.40.
Read Our Latest Stock Report on PACS
About PACS Group
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.
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