Healthcare Services Group (NASDAQ:HCSG) Now Covered by Royal Bank Of Canada

Royal Bank Of Canada began coverage on shares of Healthcare Services Group (NASDAQ:HCSG) in a report issued on Tuesday. The firm set a “sector perform” rating and a $22.00 price target on the business services provider’s stock. Royal Bank Of Canada’s target price would suggest a potential downside of 0.99% from the company’s previous close.

HCSG has been the subject of several other research reports. Macquarie Infrastructure reaffirmed a “buy” rating on shares of Healthcare Services Group in a research note on Wednesday, November 26th. Wall Street Zen lowered shares of Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 22nd. BMO Capital Markets reiterated a “market perform” rating and issued a $22.00 target price on shares of Healthcare Services Group in a report on Thursday, February 12th. UBS Group set a $25.00 price target on Healthcare Services Group and gave the stock a “buy” rating in a research note on Thursday, February 12th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Healthcare Services Group in a research note on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $22.00.

Healthcare Services Group Stock Performance

HCSG opened at $22.22 on Tuesday. The stock has a market capitalization of $1.56 billion, a PE ratio of 27.10 and a beta of 0.74. Healthcare Services Group has a one year low of $9.13 and a one year high of $22.98. The business’s 50 day moving average price is $19.72 and its 200 day moving average price is $18.04.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Wednesday, February 11th. The business services provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.21. The company had revenue of $466.68 million for the quarter, compared to the consensus estimate of $467.24 million. Healthcare Services Group had a return on equity of 16.04% and a net margin of 3.21%.The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.16 earnings per share. As a group, equities research analysts forecast that Healthcare Services Group will post 0.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Patrick J. Orr sold 44,615 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $20.53, for a total transaction of $915,945.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Christopher Shea sold 54,357 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $20.41, for a total transaction of $1,109,426.37. Following the sale, the executive vice president owned 29,292 shares in the company, valued at $597,849.72. The trade was a 64.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 146,962 shares of company stock worth $3,014,100 in the last quarter. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HCSG. Miller Global Investments LLC purchased a new stake in shares of Healthcare Services Group during the 4th quarter worth $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in Healthcare Services Group during the 4th quarter worth about $33,000. EverSource Wealth Advisors LLC boosted its position in shares of Healthcare Services Group by 163.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock worth $33,000 after acquiring an additional 1,356 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Healthcare Services Group by 94.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,843 shares of the business services provider’s stock worth $48,000 after acquiring an additional 1,384 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Healthcare Services Group by 32.0% in the 4th quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock valued at $69,000 after acquiring an additional 877 shares during the last quarter. Institutional investors and hedge funds own 97.97% of the company’s stock.

Healthcare Services Group Company Profile

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.