Sign in

Ben Hendricks

Vice President and Senior Equity Analyst at RBC Capital Markets

Ben Hendrix is a Vice President and Senior Equity Analyst at RBC Capital Markets, specializing in the healthcare and financial services sectors with a focus on companies such as UnitedHealth Group, Walgreens Boots Alliance, LHC Group, and Amedisys. He covers over 30 stocks and has maintained a success rate of approximately 54% with an average return of 3% per rating, and his most profitable stock call generated a return of over 270%. Ben began his career as an Associate Product Manager at INVESCO, then held associate roles in investment banking at UBS and Wells Fargo Securities before joining RBC Capital Markets in 2013, where he advanced from Assistant Vice President to his current role. He holds an MBA in Finance and Accounting from Vanderbilt University and a BSM from Tulane University, and is FINRA-registered, reflecting his professional credentials in the securities industry.

Ben Hendricks's questions to PACS Group (PACS) leadership

Question · Q3 2025

Ben Hendricks asked how local market referral and payer relationships fared during the audit process, and if any changes were made with key sources. He also inquired if operational changes from the audit have altered M&A target selection, specifically balancing deep turnaround opportunities versus already well-performing facilities.

Answer

Jason Murray (CEO) explained that the locally led, centrally supported model allowed administrators to adapt to local market needs, and strong census numbers indicated PACS remained the provider of choice, demonstrating the model's resilience. He confirmed that relationships remained strong. Jason Murray stated that the company's disciplined M&A evaluation process, involving an investment committee, has not changed. He affirmed that PACS will continue to pursue deep turnaround opportunities, like the Colorado example, where their model can transform struggling facilities clinically and financially, deploying resources to improve quality metrics in a disciplined manner.

Ask follow-up questions

Fintool

Fintool can predict PACS Group logo PACS's earnings beat/miss a week before the call

Question · Q3 2025

Ben Hendricks asked about the local market strategy, specifically how referral and payer relationships fared during the audit process and if any changes were necessary. He also inquired if the operational changes resulting from the audit have altered the company's M&A target selection, particularly the balance between deep turnaround opportunities and already well-performing facilities.

Answer

Jason Murray, CEO, emphasized that the locally led, centrally supported model allowed administrators to adapt to local market needs, which proved resilient during challenging times. He pointed to strong census numbers as evidence that PACS remains the provider of choice, confirming that relationships in their markets held up well. Regarding M&A targets, Mr. Murray stated that there has been no change in thinking. The company continues to use its disciplined investment committee structure to evaluate deals and will continue to pursue deep turnaround opportunities, as they are confident in their ability to transform struggling facilities clinically and financially.

Ask follow-up questions

Fintool

Fintool can write a report on PACS Group logo PACS's next earnings in your company's style and formatting