Healthcare Services Group, Inc. (NASDAQ:HCSG – Get Free Report)’s share price hit a new 52-week high during trading on Monday. The stock traded as high as $25.79 and last traded at $25.76, with a volume of 670,122 shares trading hands. The stock had previously closed at $24.52.
Analyst Ratings Changes
Several analysts have recently weighed in on HCSG shares. Weiss Ratings upgraded shares of Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, September 25th. UBS Group increased their target price on shares of Healthcare Services Group from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Robert W. Baird cut their price target on shares of Healthcare Services Group from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, October 8th. Zacks Research raised shares of Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 28th. Finally, Oppenheimer started coverage on shares of Healthcare Services Group in a research report on Wednesday, August 19th. They issued an “outperform” rating and a $28.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $26.67.
Get Our Latest Stock Report on Healthcare Services Group
Healthcare Services Group Stock Up 3.8%
The company has a market cap of $1.79 billion, a price-to-earnings ratio of 17.16 and a beta of 0.92. The firm has a 50-day simple moving average of $22.16 and a 200 day simple moving average of $21.48.
Healthcare Services Group (NASDAQ:HCSG – Get Free Report) last issued its quarterly earnings data on Wednesday, October 21st. The business services provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.12. The company had revenue of $479.60 million during the quarter, compared to analysts’ expectations of $480.80 million. Healthcare Services Group had a return on equity of 20.22% and a net margin of 5.58%. During the same quarter in the previous year, the business earned $0.59 earnings per share. As a group, research analysts expect that Healthcare Services Group, Inc. will post 1.32 EPS for the current year.
Insider Activity at Healthcare Services Group
In related news, EVP Jason J. Bundick sold 18,239 shares of the company’s stock in a transaction on Monday, October 26th. The shares were sold at an average price of $25.11, for a total value of $457,981.29. Following the completion of the sale, the executive vice president owned 17,125 shares in the company, valued at $430,008.75. This represents a 51.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.90% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Nykredit A S purchased a new stake in shares of Healthcare Services Group in the second quarter valued at about $28,000. KBC Group NV purchased a new position in shares of Healthcare Services Group during the first quarter worth about $35,000. Allworth Financial LP acquired a new position in Healthcare Services Group in the 2nd quarter valued at about $55,000. Public Employees Retirement System of Ohio acquired a new position in Healthcare Services Group in the 2nd quarter valued at about $66,000. Finally, Nisa Investment Advisors LLC increased its position in Healthcare Services Group by 52.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 4,981 shares of the business services provider’s stock valued at $102,000 after acquiring an additional 1,722 shares during the period. 97.97% of the stock is owned by hedge funds and other institutional investors.
Healthcare Services Group Company Profile
Healthcare Services Group, Inc (NASDAQ:HCSG) provides outsourced support services to healthcare facilities in the United States. Its customers primarily include nursing homes, skilled nursing facilities, continuing care retirement communities, assisted-living facilities and other institutional healthcare providers.
The company’s principal service offerings include housekeeping, laundry and linen services, as well as dining and nutritional services. These services are designed to help healthcare operators manage nonclinical functions, maintain facility standards and support the daily needs of residents and patients.
Healthcare Services Group was founded in 1976 and is headquartered in Bensalem, Pennsylvania.
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