Invesco Ltd. grew its position in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 11.8% during the second quarter, HoldingsChannel.com reports. The firm owned 99,851 shares of the business services provider’s stock after buying an additional 10,563 shares during the quarter. Invesco Ltd.’s holdings in Healthcare Services Group were worth $3,027,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Healthcare Services Group by 1.0% during the second quarter. Vanguard Group Inc. now owns 7,517,613 shares of the business services provider’s stock worth $227,935,000 after acquiring an additional 77,305 shares in the last quarter. AMP Capital Investors Ltd bought a new stake in Healthcare Services Group during the second quarter worth about $223,000. Holocene Advisors LP raised its holdings in Healthcare Services Group by 131.1% during the second quarter. Holocene Advisors LP now owns 59,435 shares of the business services provider’s stock worth $1,802,000 after acquiring an additional 33,721 shares in the last quarter. Giverny Capital Inc. raised its holdings in Healthcare Services Group by 9.2% during the second quarter. Giverny Capital Inc. now owns 313,678 shares of the business services provider’s stock worth $9,511,000 after acquiring an additional 26,344 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in Healthcare Services Group by 1.0% during the second quarter. BlackRock Inc. now owns 8,428,429 shares of the business services provider’s stock worth $255,549,000 after acquiring an additional 81,048 shares in the last quarter.
Several analysts recently issued reports on HCSG shares. Zacks Investment Research upgraded Healthcare Services Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 25th. Sidoti dropped their target price on Healthcare Services Group from $51.00 to $43.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Jefferies Financial Group reiterated a “hold” rating and set a $32.00 target price (down previously from $40.00) on shares of Healthcare Services Group in a report on Friday, July 12th. Credit Suisse Group dropped their target price on Healthcare Services Group from $41.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Finally, Benchmark reiterated a “buy” rating on shares of Healthcare Services Group in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Healthcare Services Group currently has an average rating of “Hold” and a consensus target price of $39.17.
Shares of NASDAQ HCSG opened at $24.37 on Tuesday. The business’s 50 day moving average price is $23.80 and its two-hundred day moving average price is $28.87. The company has a market cap of $1.81 billion, a PE ratio of 21.76 and a beta of 0.74. Healthcare Services Group, Inc. has a twelve month low of $21.16 and a twelve month high of $48.73.
Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings results on Tuesday, July 23rd. The business services provider reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.11). The business had revenue of $462.10 million for the quarter, compared to analyst estimates of $477.68 million. Healthcare Services Group had a return on equity of 19.40% and a net margin of 4.38%. Healthcare Services Group’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same period last year, the firm earned $0.35 EPS. Equities analysts forecast that Healthcare Services Group, Inc. will post 0.93 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 23rd were given a dividend of $0.199 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Thursday, August 22nd. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.20. Healthcare Services Group’s payout ratio is 71.43%.
In other Healthcare Services Group news, Director Robert L. Frome sold 8,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $24.06, for a total transaction of $204,510.00. Following the transaction, the director now owns 9,907 shares of the company’s stock, valued at $238,362.42. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.10% of the stock is owned by insiders.
Healthcare Services Group Company Profile
Healthcare Services Group, Inc provides management, administrative, and operating services to the housekeeping, laundry, linen, facility maintenance, and dietary service departments of nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.
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