Key Points
- COO Andrew Kush sold 15,598 HCSG shares at an average price of $23.24, generating approximately $362,498. Following the sale, he retained 22,741 shares, reducing his position by 40.68%.
- Healthcare Services Group reported quarterly EPS of $0.32, beating analyst expectations of $0.22, while revenue of $470.81 million was roughly in line with forecasts.
- Analysts hold a Moderate Buy consensus rating, with an average price target of $26.20 versus the stock’s reported opening price of $22.84. Institutional investors own nearly 98% of the company.
Healthcare Services Group, Inc. (NASDAQ:HCSG - Get Free Report) COO Andrew Kush sold 15,598 shares of Healthcare Services Group 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 transaction, the chief operating officer owned 22,741 shares of the company's stock, valued at approximately $528,500.84. This trade represents a 40.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.
Healthcare Services Group Stock Performance
NASDAQ HCSG opened at $22.84 on Thursday. The business's 50 day moving average price is $23.04 and its 200-day moving average price is $21.18. Healthcare Services Group, Inc. has a fifty-two week low of $13.69 and a fifty-two week high of $25.75. The company has a market cap of $1.57 billion, a P/E ratio of 13.28 and a beta of 0.81.
Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.10. The company had revenue of $470.81 million during 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 company earned ($0.44) earnings per share. As a group, equities analysts predict that Healthcare Services Group, Inc. will post 1.1 EPS for the current year.
Wall Street Analyst Weigh In
HCSG has been the subject of several analyst reports. Weiss Ratings upgraded shares of Healthcare Services Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, July 28th. Wall Street Zen lowered shares of Healthcare Services Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. UBS Group raised their price objective on shares of Healthcare Services Group from $27.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Royal Bank Of Canada boosted their target price on Healthcare Services Group from $22.00 to $24.00 and gave the company a "sector perform" rating in a research report on Thursday, April 23rd. Finally, BMO Capital Markets upped their target price on Healthcare Services Group from $22.00 to $24.00 and gave the company a "market perform" rating in a research note on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $26.20.
Get Our Latest Stock Report on Healthcare Services Group
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in HCSG. Janus Henderson Group PLC lifted its holdings in Healthcare Services Group by 5.5% during the 1st quarter. Janus Henderson Group PLC now owns 890,035 shares of the business services provider's stock valued at $16,510,000 after buying an additional 46,427 shares in the last quarter. California State Teachers Retirement System grew its stake in Healthcare Services Group by 35.1% in the 1st quarter. California State Teachers Retirement System now owns 91,270 shares of the business services provider's stock worth $1,693,000 after acquiring an additional 23,700 shares in the last quarter. Royal Bank of Canada increased its position in shares of Healthcare Services Group by 33.1% during the first quarter. Royal Bank of Canada now owns 393,601 shares of the business services provider's stock worth $7,301,000 after acquiring an additional 97,833 shares during the period. Empowered Funds LLC raised its stake in shares of Healthcare Services Group by 123.6% during the first quarter. Empowered Funds LLC now owns 215,824 shares of the business services provider's stock valued at $4,004,000 after acquiring an additional 119,290 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Healthcare Services Group by 40.8% in the first quarter. The Manufacturers Life Insurance Company now owns 29,711 shares of the business services provider's stock valued at $551,000 after purchasing an additional 8,604 shares during the period. Hedge funds and other institutional investors own 97.97% of the company's stock.
About Healthcare Services Group
(
Get Free Report)
Healthcare Services Group, Inc (NASDAQ: HCSG) is a leading provider of support services to healthcare facilities across the United States. The company specializes in environmental services, including housekeeping and sanitation, as well as linen and laundry management. In addition, Healthcare Services Group offers dietary and nutrition services, catering to hospitals, skilled nursing facilities, assisted living communities and other long-term care providers.
Founded as a family-owned business in the late 1970s, the company completed its initial public offering in 1997.
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