Healthcare Services Group (NASDAQ:HCSG) Downgraded to “Hold” Rating by Wall Street Zen

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

HCSG has been the topic of a number of other reports. BMO Capital Markets reissued a “market perform” rating and issued a $22.00 price objective on shares of Healthcare Services Group in a research note on Thursday, February 12th. Benchmark reaffirmed a “buy” rating on shares of Healthcare Services Group in a research report on Thursday, February 12th. William Blair upgraded Healthcare Services Group from a “market perform” rating to an “outperform” rating in a report on Friday, February 20th. Macquarie Infrastructure reissued a “buy” rating on shares of Healthcare Services Group in a research report on Wednesday, November 26th. Finally, UBS Group set a $25.00 price objective on shares of Healthcare Services Group and gave the stock a “buy” rating in a research note on Thursday, February 12th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Healthcare Services Group currently has an average rating of “Hold” and a consensus price target of $22.00.

Healthcare Services Group Trading Down 1.0%

Shares of NASDAQ:HCSG opened at $18.97 on Friday. The stock has a market capitalization of $1.33 billion, a PE ratio of 23.13 and a beta of 0.73. Healthcare Services Group has a 1 year low of $9.13 and a 1 year high of $22.98. The firm has a fifty day moving average price of $19.99 and a 200 day moving average price of $18.47.

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

Insider Buying and Selling

In related news, EVP John Christopher Shea sold 54,357 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president owned 29,292 shares of the company’s stock, valued at approximately $597,849.72. The trade was a 64.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Patrick J. Orr sold 45,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $20.54, for a total value of $934,570.00. Following the completion of the sale, the executive vice president directly owned 44,615 shares in the company, valued at $916,392.10. This trade represents a 50.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 146,962 shares of company stock valued at $3,014,100. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Healthcare Services Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. 8 Knots Management LLC acquired a new position in Healthcare Services Group during the 3rd quarter valued at $56,527,000. Ameriprise Financial Inc. grew its position in Healthcare Services Group by 80.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,981,840 shares of the business services provider’s stock worth $33,354,000 after purchasing an additional 882,213 shares during the last quarter. Geode Capital Management LLC grew its position in Healthcare Services Group by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,883,225 shares of the business services provider’s stock worth $28,309,000 after purchasing an additional 29,551 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Healthcare Services Group by 38.1% during the 3rd quarter. American Century Companies Inc. now owns 1,766,601 shares of the business services provider’s stock worth $29,732,000 after purchasing an additional 487,608 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Healthcare Services Group by 240.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,496,835 shares of the business services provider’s stock worth $22,497,000 after purchasing an additional 1,056,705 shares during the period. 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.