Key Points
- Healthcare Services Group EVP Jason Bundick sold 18,239 shares at an average price of $25.11, generating $457,981.29 and reducing his direct ownership by 51.58% to 17,125 shares.
- The company reported quarterly EPS of $0.36, beating the $0.24 consensus estimate, while revenue of $479.6 million was slightly below expectations. Shares traded near their 52-week high, with a market capitalization of approximately $1.67 billion.
- Analysts maintain a “Moderate Buy” consensus, with six Buy and four Hold ratings and an average price target of $26.67; institutional investors collectively own 97.97% of the stock.
Healthcare Services Group, Inc. (NASDAQ:HCSG - Get Free Report) EVP Jason Bundick sold 18,239 shares of the firm's stock in a transaction on Monday, October 26th. The stock was sold at an average price of $25.11, for a total value of $457,981.29. Following the completion of the transaction, the executive vice president directly owned 17,125 shares in the company, valued at approximately $430,008.75. This represents a 51.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Healthcare Services Group Stock Performance
NASDAQ HCSG opened at $24.37 on Wednesday. The company has a market capitalization of $1.67 billion, a PE ratio of 16.36 and a beta of 0.81. The business's fifty day moving average is $21.87 and its 200 day moving average is $21.31. Healthcare Services Group, Inc. has a fifty-two week low of $16.78 and a fifty-two week high of $25.75.
Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last released its quarterly earnings results on Wednesday, October 21st. The business services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.12. The company had revenue of $479.60 million for the quarter, compared to the consensus estimate of $480.80 million. During the same period in the prior year, the firm posted $0.59 EPS. On average, sell-side analysts forecast that Healthcare Services Group, Inc. will post 1.32 EPS for the current year.
Wall Street Analyst Weigh In
HCSG has been the topic of a number of analyst reports. Robert W. Baird lowered their price objective on Healthcare Services Group from $26.00 to $24.00 and set a "neutral" rating on the stock in a research report on Thursday, October 8th. Zacks Research lowered shares of Healthcare Services Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 29th. Oppenheimer assumed coverage on shares of Healthcare Services Group in a research note on Wednesday, August 19th. They set an "outperform" rating and a $28.00 target price on the stock. Wall Street Zen downgraded shares of Healthcare Services Group from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Finally, UBS Group upped their price target on shares of Healthcare Services Group from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Wednesday, July 8th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Healthcare Services Group has an average rating of "Moderate Buy" and an average target price of $26.67.
Get Our Latest Stock Analysis on Healthcare Services Group
Institutional Investors Weigh In On Healthcare Services Group
A number of institutional investors have recently bought and sold shares of the business. Nykredit A S purchased a new stake in Healthcare Services Group in the 2nd quarter worth $28,000. KBC Group NV purchased a new position in shares of Healthcare Services Group in the first quarter valued at about $35,000. Allworth Financial LP purchased a new position in shares of Healthcare Services Group in the second quarter valued at about $55,000. Public Employees Retirement System of Ohio purchased a new position in shares of Healthcare Services Group in the second quarter valued at about $66,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Healthcare Services Group by 52.8% in the third quarter. Nisa Investment Advisors LLC now owns 4,981 shares of the business services provider's stock worth $102,000 after acquiring an additional 1,722 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) 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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