Raymond James & Associates lessened its holdings in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG – Get Rating) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 416,762 shares of the business services provider’s stock after selling 12,744 shares during the period. Raymond James & Associates owned 0.56% of Healthcare Services Group worth $5,001,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of HCSG. Belpointe Asset Management LLC purchased a new position in shares of Healthcare Services Group in the 4th quarter worth about $34,000. CWM LLC raised its position in shares of Healthcare Services Group by 133.9% in the 4th quarter. CWM LLC now owns 3,132 shares of the business services provider’s stock worth $38,000 after purchasing an additional 1,793 shares during the last quarter. Captrust Financial Advisors raised its position in shares of Healthcare Services Group by 64.6% in the 1st quarter. Captrust Financial Advisors now owns 4,582 shares of the business services provider’s stock worth $85,000 after purchasing an additional 1,799 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Healthcare Services Group by 138.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 7,480 shares of the business services provider’s stock worth $91,000 after purchasing an additional 4,338 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of Healthcare Services Group in the 4th quarter worth about $220,000. Institutional investors own 98.08% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on HCSG. Jefferies Financial Group raised Healthcare Services Group from an “underperform” rating to a “hold” rating and boosted their target price for the stock from $8.50 to $14.00 in a research report on Friday, March 24th. Royal Bank of Canada raised Healthcare Services Group from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $14.00 to $17.00 in a research report on Thursday, February 16th. StockNews.com began coverage on Healthcare Services Group in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Benchmark reissued a “buy” rating and issued a $18.00 target price on shares of Healthcare Services Group in a research report on Tuesday, February 21st. Finally, Credit Suisse Group upped their price target on shares of Healthcare Services Group from $12.00 to $14.00 and gave the company a “neutral” rating in a research report on Friday, February 17th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.60.
Healthcare Services Group Trading Down 0.8 %
Healthcare Services Group (NASDAQ:HCSG – Get Rating) last issued its quarterly earnings results on Wednesday, April 26th. The business services provider reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.04. The business had revenue of $417.23 million during the quarter, compared to the consensus estimate of $423.51 million. Healthcare Services Group had a return on equity of 8.34% and a net margin of 2.14%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the company earned $0.15 earnings per share. On average, equities research analysts predict that Healthcare Services Group, Inc. will post 0.73 EPS for the current year.
Healthcare Services Group Company Profile
Healthcare Services Group, Inc engages in the provision of keeping, laundry, and dietary services to long-term care and related health care facilities. It operates through the following business segments: Housekeeping and Dietary. The Housekeeping segment consists of the management of the client’s housekeeping department, which is responsible for the cleaning, disinfecting, and sanitizing of patient rooms and common areas of a client facility, as well as the laundering and processing of the personal clothing belonging to the facility’s patients.
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