Healthcare Services Group (NASDAQ:HCSG) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Healthcare Services Group (NASDAQ:HCSG) from a buy rating to a hold rating in a report released on Saturday.

HCSG has been the topic of several other reports. Royal Bank Of Canada assumed coverage on shares of Healthcare Services Group in a report on Tuesday, March 3rd. They issued a “sector perform” rating and a $22.00 price objective on the stock. Macquarie Infrastructure reiterated a “buy” rating on shares of Healthcare Services Group in a research report on Wednesday, November 26th. Robert W. Baird set a $23.00 price target on shares of Healthcare Services Group in a research note on Thursday, February 12th. UBS Group set a $25.00 price objective on shares of Healthcare Services Group and gave the stock a “buy” rating in a report on Thursday, February 12th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Healthcare Services Group in a research report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $22.00.

Healthcare Services Group Stock Up 3.0%

HCSG stock opened at $19.53 on Friday. Healthcare Services Group has a 52-week low of $9.13 and a 52-week high of $22.98. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 23.82 and a beta of 0.73. The business has a fifty day moving average of $19.99 and a two-hundred day moving average of $18.52.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings results on Wednesday, February 11th. The business services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.23 by $0.21. The business had revenue of $466.68 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.16 EPS. As a group, sell-side analysts anticipate that Healthcare Services Group will post 0.74 EPS for the current year.

Insider Transactions at Healthcare Services Group

In other news, CAO Andrew M. Brophy sold 2,490 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $21.75, for a total value of $54,157.50. Following the sale, the chief accounting officer directly owned 15,735 shares in the company, valued at approximately $342,236.25. This trade represents a 13.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Christopher Shea sold 54,357 shares of Healthcare Services Group stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $20.41, for a total value of $1,109,426.37. Following the completion of the transaction, the executive vice president owned 29,292 shares of the company’s stock, valued at approximately $597,849.72. This trade represents a 64.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 146,962 shares of company stock valued at $3,014,100. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Healthcare Services Group

Several hedge funds and other institutional investors have recently made changes to their positions in HCSG. Miller Global Investments LLC acquired a new position in shares of Healthcare Services Group during the fourth quarter worth about $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in Healthcare Services Group in the fourth quarter valued at approximately $33,000. EverSource Wealth Advisors LLC raised its holdings in Healthcare Services Group by 163.4% in the second quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 1,356 shares in the last quarter. GAMMA Investing LLC lifted its stake in Healthcare Services Group by 94.9% in the third 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 during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Healthcare Services Group by 32.0% in the fourth quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock worth $69,000 after acquiring an additional 877 shares during the last quarter. Hedge funds and other institutional investors 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.