Healthcare Services Group (NASDAQ:HCSG) Issues Earnings Results

Healthcare Services Group (NASDAQ:HCSG) announced its earnings results on Wednesday. The business services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.15, FiscalAI reports. Healthcare Services Group had a return on equity of 16.04% and a net margin of 3.21%.The firm had revenue of $462.77 million during the quarter, compared to analysts’ expectations of $479.79 million. During the same quarter in the prior year, the business earned $0.23 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis.

Healthcare Services Group Price Performance

Healthcare Services Group stock opened at $22.89 on Thursday. The stock has a fifty day moving average price of $19.97 and a two-hundred day moving average price of $18.96. Healthcare Services Group has a 52-week low of $10.86 and a 52-week high of $24.39. The firm has a market capitalization of $1.58 billion, a P/E ratio of 27.91 and a beta of 0.80.

Insiders Place Their Bets

In other Healthcare Services Group news, EVP Patrick J. Orr sold 45,500 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $20.54, for a total transaction of $934,570.00. Following the completion of the transaction, the executive vice president directly owned 44,615 shares in the company, valued at $916,392.10. This represents a 50.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction, the chief accounting officer owned 15,735 shares of the company’s stock, valued at $342,236.25. This represents a 13.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 146,962 shares of company stock worth $3,014,100 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Healthcare Services Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new stake in Healthcare Services Group in the fourth quarter worth about $33,000. EverSource Wealth Advisors LLC boosted its holdings in Healthcare Services Group by 163.4% during the second quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock worth $33,000 after buying an additional 1,356 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Healthcare Services Group by 600.8% during the second quarter. Tower Research Capital LLC TRC now owns 10,259 shares of the business services provider’s stock worth $154,000 after buying an additional 8,795 shares during the last quarter. Caxton Associates LLP bought a new position in Healthcare Services Group during the second quarter worth about $163,000. Finally, PharVision Advisers LLC bought a new position in Healthcare Services Group during the third quarter worth about $176,000. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on HCSG shares. Benchmark restated a “buy” rating on shares of Healthcare Services Group in a research note on Thursday, February 12th. William Blair upgraded Healthcare Services Group from a “market perform” rating to an “outperform” rating in a research note on Friday, February 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Healthcare Services Group in a research note on Monday, December 29th. UBS Group set a $25.00 target price on Healthcare Services Group and gave the company a “buy” rating in a research note on Thursday, February 12th. Finally, Robert W. Baird set a $23.00 target price on Healthcare Services Group in a research note on Thursday, February 12th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Healthcare Services Group currently has a consensus rating of “Hold” and a consensus target price of $22.00.

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.