PACS Group, Inc. (NYSE:PACS – Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $45.89 and last traded at $44.6830, with a volume of 1312827 shares traded. The stock had previously closed at $44.48.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the company. Truist Financial lifted their price target on PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a report on Monday, May 18th. UBS Group increased their price target on PACS Group from $50.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PACS Group in a research report 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. Finally, Oppenheimer lifted their target price on PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.60.
View Our Latest Stock Report on PACS Group
PACS Group Price Performance
PACS Group (NYSE:PACS – Get Free Report) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.36 billion. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. On average, analysts forecast that PACS Group, Inc. will post 2.23 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, insider Mark Hancock sold 153,254 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $36.34, for a total value of $5,569,250.36. Following the completion of the transaction, the insider owned 54,449,343 shares of the company’s stock, valued at $1,978,689,124.62. This represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Todd Mitchell sold 52,763 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $38.02, for a total transaction of $2,006,049.26. Following the transaction, the insider owned 830,955 shares of the company’s stock, valued at approximately $31,592,909.10. This represents a 5.97% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 771,220 shares of company stock valued at $30,470,994 over the last quarter. Corporate insiders own 70.10% of the company’s stock.
Institutional Trading of PACS Group
Several institutional investors have recently bought and sold shares of PACS. Cubist Systematic Strategies LLC acquired a new position in PACS Group during the first quarter worth $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of PACS Group by 6.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the company’s stock valued at $262,000 after acquiring an additional 1,443 shares during the period. Millennium Management LLC boosted its stake in shares of PACS Group by 68.3% in the 1st quarter. Millennium Management LLC now owns 859,295 shares of the company’s stock valued at $9,658,000 after purchasing an additional 348,743 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of PACS Group in the 1st quarter valued at $64,000. Finally, Caxton Associates LLP bought a new stake in shares of PACS Group in the 1st quarter worth about $163,000.
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.
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