Healthcare Services Group (NASDAQ:HCSG) Cut to Hold at Zacks Research

Healthcare Services Group (NASDAQ:HCSG) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

A number of other analysts have also recently weighed in on HCSG. Wall Street Zen cut shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings raised Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, September 25th. UBS Group increased their target price on Healthcare Services Group from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Finally, Oppenheimer began coverage on Healthcare Services Group in a research report on Wednesday, August 19th. They issued an “outperform” rating and a $28.00 price target on the stock. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.50.

Healthcare Services Group Trading Down 2.2%

NASDAQ:HCSG opened at $20.45 on Tuesday. The firm has a market capitalization of $1.40 billion, a PE ratio of 11.89 and a beta of 0.80. Healthcare Services Group has a 1 year low of $15.13 and a 1 year high of $25.75. The firm’s fifty day simple moving average is $22.07 and its 200 day simple moving average is $21.65.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.10. The company had revenue of $470.81 million during the quarter, compared to analysts’ expectations of $471.22 million. Healthcare Services Group had a return on equity of 18.97% and a net margin of 6.59%.During the same period in the prior year, the business earned ($0.44) earnings per share. As a group, analysts anticipate that Healthcare Services Group will post 1.14 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Andrew Kush sold 15,598 shares of Healthcare Services Group stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $23.24, for a total value of $362,497.52. Following the completion of the sale, the chief operating officer directly owned 22,741 shares of the company’s stock, valued at approximately $528,500.84. This trade represents a 40.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Healthcare Services Group

Several large investors have recently made changes to their positions in the company. WINTON GROUP Ltd increased its position in Healthcare Services Group by 6.2% in the second quarter. WINTON GROUP Ltd now owns 66,948 shares of the business services provider’s stock worth $1,644,000 after purchasing an additional 3,904 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Healthcare Services Group during the 2nd quarter valued at about $160,000. Nykredit A S acquired a new position in Healthcare Services Group during the 2nd quarter valued at about $28,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Healthcare Services Group in the 2nd quarter valued at about $533,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Healthcare Services Group during the second quarter worth approximately $66,000. Institutional investors and hedge funds own 97.97% of the company’s stock.

Healthcare Services Group Company Profile

Healthcare Services Group, Inc (NASDAQ:HCSG) provides outsourced support services to healthcare and senior living facilities across the United States. Its primary customers include nursing homes, post-acute care centers, hospitals, assisted living communities and other healthcare-related facilities.

The company operates through two principal service areas. Its environmental services business provides housekeeping, laundry and linen management, waste handling and related services. Its dietary services business supports food procurement, meal preparation, dining operations and nutrition-related programs for residents and patients.

Healthcare Services Group was founded in 1976 and has historically focused on helping healthcare providers manage nonclinical operations through contract-based services.