Healthcare Services Group, Inc. (NASDAQ:HCSG) insider Michael E. Mcbryan sold 22,500 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $51.82, for a total transaction of $1,165,950.00. Following the sale, the insider now directly owns 32,542 shares in the company, valued at $1,686,326.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Healthcare Services Group, Inc. (NASDAQ:HCSG) opened at 51.30 on Thursday. Healthcare Services Group, Inc. has a 52 week low of $34.83 and a 52 week high of $54.28. The company has a market capitalization of $3.75 billion, a PE ratio of 45.00 and a beta of 0.61. The firm has a 50-day moving average of $50.24 and a 200-day moving average of $45.53.
Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Tuesday, July 11th. The business services provider reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.01. Healthcare Services Group had a net margin of 5.07% and a return on equity of 24.12%. The firm had revenue of $470.90 million for the quarter, compared to analyst estimates of $425.24 million. During the same period in the previous year, the firm posted $0.26 EPS. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. Equities analysts expect that Healthcare Services Group, Inc. will post $1.25 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, August 18th will be issued a dividend of $0.1888 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.47%. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Wednesday, August 16th. Healthcare Services Group’s payout ratio is presently 65.22%.
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A number of large investors have recently bought and sold shares of HCSG. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Healthcare Services Group by 9.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,700 shares of the business services provider’s stock worth $126,000 after buying an additional 242 shares during the last quarter. LS Investment Advisors LLC raised its stake in Healthcare Services Group by 4.0% in the second quarter. LS Investment Advisors LLC now owns 2,834 shares of the business services provider’s stock worth $133,000 after buying an additional 108 shares during the last quarter. HighTower Advisors LLC acquired a new stake in Healthcare Services Group during the first quarter worth $202,000. Emerald Advisers Inc. PA acquired a new stake in Healthcare Services Group during the first quarter worth $204,000. Finally, Harfst & Associates Inc. acquired a new stake in Healthcare Services Group during the first quarter worth $206,000. 93.40% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently commented on the stock. BidaskClub cut shares of Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Zacks Investment Research raised shares of Healthcare Services Group from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Friday, July 14th. Robert W. Baird raised their price objective on shares of Healthcare Services Group from $47.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, July 12th. They noted that the move was a valuation call. Credit Suisse Group reaffirmed an “outperform” rating and issued a $56.00 price objective (up from $50.00) on shares of Healthcare Services Group in a research note on Thursday, July 13th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $50.00 price objective (up from $48.00) on shares of Healthcare Services Group in a research note on Wednesday, July 12th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Healthcare Services Group has an average rating of “Buy” and a consensus price target of $53.00.
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 the healthcare industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States.
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