Healthcare Services Group, Inc. (NASDAQ:HCSG – Get Free Report) has received a consensus rating of “Moderate Buy” from the nine research firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $26.50.
A number of research analysts have weighed in on the stock. Zacks Research raised shares of Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Oppenheimer started coverage on Healthcare Services Group in a research report on Wednesday, August 19th. They issued an “outperform” rating and a $28.00 price target on the stock. Wall Street Zen lowered Healthcare Services Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. UBS Group boosted their price objective on Healthcare Services Group from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Finally, Weiss Ratings downgraded Healthcare Services Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, September 9th.
Get Our Latest Stock Report on Healthcare Services Group
Healthcare Services Group Stock Performance
Healthcare Services Group (NASDAQ:HCSG – Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.10. The business had revenue of $470.81 million for the quarter, compared to the consensus estimate of $471.22 million. Healthcare Services Group had a return on equity of 18.97% and a net margin of 6.59%.During the same period last year, the business earned ($0.44) EPS. On average, research analysts predict that Healthcare Services Group will post 1.14 earnings per share for the current year.
Insider Activity at Healthcare Services Group
In other news, COO Andrew Kush sold 15,598 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $23.24, for a total value of $362,497.52. Following the completion of the sale, the chief operating officer directly owned 22,741 shares of the company’s stock, valued at approximately $528,500.84. This represents a 40.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.90% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Healthcare Services Group
Institutional investors and hedge funds have recently bought and sold shares of the stock. Nykredit A S acquired a new stake in Healthcare Services Group during the second quarter worth $28,000. Jupiter Asset Management Ltd. raised its stake in shares of Healthcare Services Group by 1.3% in the 4th quarter. Jupiter Asset Management Ltd. now owns 140,895 shares of the business services provider’s stock valued at $2,694,000 after buying an additional 1,839 shares in the last quarter. KBC Group NV bought a new position in shares of Healthcare Services Group during the 1st quarter worth about $35,000. Sanctuary Advisors LLC lifted its holdings in shares of Healthcare Services Group by 9.7% during the 1st quarter. Sanctuary Advisors LLC now owns 22,098 shares of the business services provider’s stock worth $410,000 after acquiring an additional 1,947 shares during the period. Finally, Allworth Financial LP acquired a new stake in shares of Healthcare Services Group during the 2nd quarter valued at about $55,000. Institutional investors own 97.97% of the company’s stock.
About Healthcare Services Group
Healthcare Services Group, Inc (NASDAQ:HCSG) provides outsourced support services to healthcare and senior living facilities across the United States. Its primary customers include nursing homes, post-acute care centers, hospitals, assisted living communities and other healthcare-related facilities.
The company operates through two principal service areas. Its environmental services business provides housekeeping, laundry and linen management, waste handling and related services. Its dietary services business supports food procurement, meal preparation, dining operations and nutrition-related programs for residents and patients.
Healthcare Services Group was founded in 1976 and has historically focused on helping healthcare providers manage nonclinical operations through contract-based services.
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