PACS Group, Inc. (NYSE:PACS – Get Free Report)’s stock price dropped 8% during trading on Wednesday . The company traded as low as $39.13 and last traded at $41.22. Approximately 308,117 shares were traded during trading, a decline of 67% from the average session volume of 931,847 shares. The stock had previously closed at $44.81.
Wall Street Analyst Weigh In
Several analysts have weighed in on PACS shares. UBS Group lifted their price objective on shares of PACS Group from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday. Oppenheimer raised their target price on shares of PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Royal Bank Of Canada raised their target price on shares of PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday. Weiss Ratings cut PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday. Finally, Zacks Research cut PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, PACS Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.20.
View Our Latest Analysis on PACS Group
PACS Group Price Performance
PACS Group (NYSE:PACS – Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.63 EPS 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 company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.41 billion. On average, research analysts forecast that PACS Group, Inc. will post 2.23 earnings per share for the current year.
Insider Buying and Selling at PACS Group
In other PACS Group news, insider Mark Hancock sold 153,254 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $36.34, for a total transaction of $5,569,250.36. Following the completion of the sale, the insider directly owned 54,449,343 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Todd Mitchell sold 52,763 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $38.02, for a total value of $2,006,049.26. Following the sale, the insider owned 830,955 shares of the company’s stock, valued at $31,592,909.10. The trade was a 5.97% decrease in their ownership of the stock. 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 a total of 796,524 shares of company stock worth $31,611,396 over the last three months. Corporate insiders own 70.10% of the company’s stock.
Institutional Trading of PACS Group
Several large investors have recently bought and sold shares of the business. Financial Management Professionals Inc. boosted its position in PACS Group by 54.9% during the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock worth $28,000 after buying an additional 235 shares during the period. Jacobsen Capital Management increased its position in PACS Group by 1.6% in the 1st quarter. Jacobsen Capital Management now owns 18,128 shares of the company’s stock valued at $582,000 after acquiring an additional 294 shares during the period. Larson Financial Group LLC raised its stake in shares of PACS Group by 127.0% during the fourth quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $42,000 after acquiring an additional 612 shares during the last quarter. Hollencrest Capital Management bought a new position in shares of PACS Group during the fourth quarter valued at $27,000. Finally, Strategic Advocates LLC raised its stake in shares of PACS Group by 18.5% during the fourth quarter. Strategic Advocates LLC now owns 5,182 shares of the company’s stock valued at $203,000 after acquiring an additional 808 shares during the last quarter.
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.
Featured Stories
- Five stocks we like better than PACS Group
- D-Wave’s Quantum Breakthrough Couldn’t Save QBTS From a Sell-Off
- Cloudflare’s Beat-and-Raise Quarter Puts Its AI Edge Story in Focus
- Solventum Nears Inflection Point As It Begins to Unlock Value
- Why the Landlord of the AI Boom Could Outlast the Chipmakers
Receive News & Ratings for PACS Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PACS Group and related companies with MarketBeat.com's FREE daily email newsletter.
