# PACS Group, Inc. (PACS)

> Source: Nexqual · https://nexqual.com/PACS · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, PACS Group, Inc. (PACS), nexqual.com/PACS" · informational, not investment advice.

**Price:** USD 47.5 (+1.58% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 46.76 · day 46–47.71 · 52w 10.31–49.49 · market cap $7.52B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $5.55B, net income $269M (4.8% margin) (SEC filings).
- Valuation: P/E 27.9x (avg 33.1x at the last 2 fiscal year-ends), net debt $81.6M.
- Insider open-market sales, last ~7 months: 24 Form 4 filings, $88.5M; 1 not under a Rule 10b5-1 plan ($155K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.67 on a 1–5 scale) (6 analysts), mean target USD 59 (range 57–62).
- Total return with dividends: 1Y +272.8% vs S&P 500 +14.9%; 5Y +97.9% vs S&P 500 +80.3%.
- Next earnings: 2026-11-09, EPS estimate USD 0.58, revenue estimate $1.46B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|
| Revenue | $2.42B | $3.11B | $4.09B | $5.29B | $5.55B |
| Operating income | $229M | $208M | $123M | $310M | $410M |
| Net income | $150M | $113M | $55.8M | $192M | $269M |
| EPS (diluted) | $1.17 | $0.88 | $0.38 | $1.22 | — |
| Operating margin | 9.5% | 6.7% | 3.0% | 5.9% | 7.4% |
| Net margin | 6.2% | 3.6% | 1.4% | 3.6% | 4.8% |
| Revenue growth | — | +28.5% | +31.4% | +29.3% | — |
| Cash + short-term investments | $58.3M | $73.4M | $158M | $197M | — |
| Total debt | — | $213M | $412M | $353M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 27.9x · P/S 1.4x · EV/Sales 1.4x · P/B 6.8x · Earnings yield 3.58% · Net debt $81.6M · EV $7.60B
P/E at fiscal year-ends: Dec 2025 31.4x, Dec 2024 34.9x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
23 of 24 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-19…2026-10-21 | Murray Jason Hulse | Co-Founder, CEO & Chairman | 45,707 | $2.2M | 0.1% | Yes (adopted May 18, 2026) | Too little history (no open-market trades in 2023 or 2025) |
| 2026-10-14…2026-10-16 | Murray Jason Hulse | Co-Founder, CEO & Chairman | 118,729 | $5.6M | 0.2% | Yes (adopted May 18, 2026) | Too little history (no open-market trades in 2023 or 2025) |
| 2026-10-14 | Jergensen Joshua | President & COO | 40,000 | $1.8M | 1.6% | Yes (adopted March 12, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-10-06…2026-10-07 | Murray Jason Hulse | Co-Founder, CEO & Chairman | 36,692 | $1.6M | 0.1% | Yes (adopted May 18, 2026) | Too little history (no open-market trades in 2023 or 2025) |
| 2026-10-01…2026-10-05 | Murray Jason Hulse | Co-Founder, CEO & Chairman | 83,308 | $3.5M | 0.2% | Yes (adopted May 18, 2026) | Too little history (no open-market trades in 2023 or 2025) |
| 2026-09-16 | Jergensen Joshua | President & COO | 40,000 | $1.7M | 1.6% | Yes (adopted March 12, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-09-14…2026-09-15 | Hancock Mark | Director | 300,000 | $13.0M | 0.6% | Yes (adopted March 11, 2026) | Too little history (no open-market trades in 2023 or 2025) |
| 2026-09-10…2026-09-14 | Murray Jason Hulse | Co-Founder, CEO & Chairman | 19,617 | $887K | 0% | Yes (adopted May 18, 2026) | Too little history (no open-market trades in 2023 or 2025) |
| 2026-09-04…2026-09-09 | Murray Jason Hulse | Co-Founder, CEO & Chairman | 51,887 | $2.2M | 0.1% | Yes (adopted May 18, 2026) | Too little history (no open-market trades in 2023 or 2025) |
| 2026-09-01…2026-09-03 | Murray Jason Hulse | Co-Founder, CEO & Chairman | 68,113 | $2.9M | 0.1% | Yes (adopted May 18, 2026) | Too little history (no open-market trades in 2023 or 2025) |
| 2026-08-20…2026-08-21 | Murray Jason Hulse | Co-Founder, CEO & Chairman | 150,550 | $6.6M | 0.3% | Yes (adopted May 18, 2026) | Too little history (no open-market trades in 2023 or 2025) |
| 2026-08-17…2026-08-19 | Murray Jason Hulse | Co-Founder, CEO & Chairman | 236,116 | $10.4M | 0.4% | Yes (adopted May 18, 2026) | Too little history (no open-market trades in 2023 or 2025) |
| 2026-08-14 | Conway Patrick Hugh | Director | 3,497 | $155K | 28.1% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-08-12 | Jergensen Joshua | President & COO | 40,000 | $1.8M | 1.6% | Yes (adopted March 12, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-07-15 | Jergensen Joshua | President & COO | 40,000 | $1.8M | 1.5% | Yes (adopted March 12, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-07-14…2026-07-15 | Hancock Mark | Director | 13,628 | $614K | 0% | Yes (adopted March 11, 2026) | Too little history (no open-market trades in 2023 or 2025) |
| 2026-07-08…2026-07-09 | Hancock Mark | Director | 25,304 | $1.1M | 0% | Yes (adopted March 11, 2026) | Too little history (no open-market trades in 2023 or 2025) |
| 2026-07-01…2026-07-06 | Lewis Michelle Renee | Chief Accounting Officer | 15,000 | $675K | 4.1% | Yes (adopted March 3, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-07-01…2026-07-06 | Hancock Mark | Director | 161,068 | $7.3M | 0.3% | Yes (adopted March 11, 2026) | Too little history (no open-market trades in 2023 or 2025) |
| 2026-06-25…2026-06-26 | Hancock Mark | Co Fndr; Exec V Chair | 200,000 | $8.1M | 0.4% | Yes (adopted March 11, 2026) | Too little history (no open-market trades in 2023 or 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 1.67 on a 1–5 scale), 6 analysts; mean target USD 59 (low 57, high 62).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-04 | JP Morgan | Target raised | Overweight | $47 → $58 |
| 2026-08-10 | Oppenheimer | Target raised | Outperform | $48 → $57 |
| 2026-08-06 | UBS | Target raised | Buy | $57 → $60 |
| 2026-08-06 | RBC Capital | Target raised | Outperform | $52 → $57 |
| 2026-08-06 | Truist Securities | Target raised | Buy | $52 → $62 |
| 2026-07-08 | UBS | Target raised | Buy | $50 → $57 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2024-04-08) |
|---|---|---|
| Total return | +272.8% | +97.9% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +274.5% | +30.8% |
| Volatility (annualized) | 81.3% | 89.5% |
| Max drawdown | -27.9% (Jan 2026→Mar 2026) | -78.7% (Oct 2024→Apr 2025) |

## Peers (Medical Care Facilities)
CHE (Chemed Corp) USD 520.15 +1.72% · ENSG (The Ensign Group, Inc.) USD 178.35 +2.88% · UHS (Universal Health Services, Inc.) USD 188.13 +2.88% · CON (Concentra Group Holdings Parent) USD 39.97 +2.25% · DVA (DaVita Inc.) USD 186.1 +5.25% · OPCH (Option Care Health, Inc.) USD 31.29 -0.00%

## More
Full page: https://nexqual.com/PACS · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Customer concentration

Period ended 2026-06-30: 39.3%, 34.2%, 19.8% of revenue from unnamed direct customers (10-Q, filed 2026-08-04).

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.58 | $0.55 | +6.6% | $1.46B | 5 |
| Next quarter (ends 2026-12-31) | $0.63 | $0.57 | +9.7% | $1.54B | 5 |
| Current fiscal year (ends 2026-12-31) | $2.50 | $2.32 | +7.8% | $5.85B | 5 |
| Next fiscal year (ends 2027-12-31) | $2.74 | $2.45 | +11.9% | $6.54B | 5 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-09): ±16.8%; last 8 reports averaged ±24.7%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 73.9% | ±16.8% |
| 2026-12-18 | 56 | 60.5% | ±19.1% |
| 2027-01-15 | 84 | 60.8% | ±23.1% |
| 2027-03-19 | 147 | 60.8% | ±30.0% |
| 2027-06-17 | 237 | 64.6% | ±39.8% |