Handelsbanken Fonder AB acquired a new position in shares of PACS Group, Inc. (NYSE:PACS – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 13,300 shares of the company’s stock, valued at approximately $567,000.
Other institutional investors have also made changes to their positions in the company. Financial Management Professionals Inc. increased its stake in PACS Group by 54.9% in the second quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock valued at $28,000 after acquiring an additional 235 shares during the period. Hollencrest Capital Management acquired a new position in PACS Group in the fourth quarter worth about $27,000. Larson Financial Group LLC lifted its stake in PACS Group by 127.0% during the fourth quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $42,000 after purchasing an additional 612 shares during the period. KBC Group NV bought a new position in PACS Group during the first quarter worth about $42,000. Finally, Western Wealth Management LLC acquired a new stake in PACS Group during the first quarter valued at approximately $48,000.
Analyst Ratings Changes
PACS has been the topic of several analyst reports. Truist Financial upped their price objective on PACS Group from $52.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen downgraded PACS Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Royal Bank Of Canada boosted their price target on PACS Group from $52.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Oppenheimer boosted their price target on PACS Group from $48.00 to $57.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Finally, UBS Group upped 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. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $56.00.
Insiders Place Their Bets
In other PACS Group news, COO Joshua Jergensen sold 40,000 shares of the company’s 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 transaction, the chief operating officer owned 2,536,320 shares of the company’s stock, valued at approximately $115,630,828.80. This represents a 1.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Hancock sold 153,254 shares of the stock in a transaction on 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 in the company, valued at $1,978,689,124.62. The trade was a 0.28% 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. In the last quarter, insiders have sold 992,488 shares of company stock valued at $40,847,862. 70.10% of the stock is currently owned by corporate insiders.
PACS Group Trading Down 1.0%
Shares of NYSE PACS opened at $43.80 on Friday. PACS Group, Inc. has a 1-year low of $7.50 and a 1-year high of $49.49. The company has a 50-day moving average of $43.38 and a two-hundred day moving average of $38.48. The company has a market cap of $6.93 billion, a PE ratio of 25.47, a P/E/G ratio of 1.25 and a beta of -0.08. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21.
PACS Group (NYSE:PACS – Get Free Report) last released its quarterly 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. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.41 billion. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. As a group, equities analysts expect that PACS Group, Inc. will post 2.36 earnings per share for the current fiscal year.
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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