Healthcare Services Group, Inc. (HCSG) Insider Sells $1,165,950.00 in Stock
Healthcare Services Group, Inc. (NASDAQ:HCSG) insider Michael E. Mcbryan sold 22,500 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $51.82, for a total value of $1,165,950.00. Following the sale, the insider now owns 32,542 shares of the company’s stock, valued at $1,686,326.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Healthcare Services Group, Inc. (NASDAQ:HCSG) traded up 0.91% during trading on Monday, reaching $51.88. 209,378 shares of the company’s stock traded hands. The firm has a 50 day moving average price of $49.61 and a 200-day moving average price of $45.10. Healthcare Services Group, Inc. has a 12 month low of $34.83 and a 12 month high of $54.28. The firm has a market cap of $3.80 billion, a PE ratio of 45.51 and a beta of 0.61.
Healthcare Services Group (NASDAQ:HCSG) last issued its earnings results on Tuesday, July 11th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $470.90 million during the quarter, compared to the consensus estimate of $425.24 million. During the same period last year, the business posted $0.26 EPS. Healthcare Services Group’s revenue was up 21.8% on a year-over-year basis. On average, analysts forecast that Healthcare Services Group, Inc. will post $1.25 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, August 18th will be paid a $0.1888 dividend. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.19. This represents a $0.76 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Wednesday, August 16th. Healthcare Services Group’s dividend payout ratio (DPR) is 65.22%.
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Large investors have recently modified their holdings of the stock. LS Investment Advisors LLC increased its stake in shares of 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 valued at $133,000 after buying an additional 108 shares during the period. CIBC Asset Management Inc purchased a new stake in shares of Healthcare Services Group during the second quarter valued at about $215,000. HighTower Advisors LLC purchased a new stake in shares of Healthcare Services Group during the first quarter valued at about $202,000. Emerald Advisers Inc. PA purchased a new stake in shares of Healthcare Services Group during the first quarter valued at about $204,000. Finally, World Asset Management Inc purchased a new stake in shares of Healthcare Services Group during the second quarter valued at about $225,000. Institutional investors and hedge funds own 93.40% of the company’s stock.
Several brokerages recently issued reports on HCSG. BidaskClub lowered Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a report on Thursday. Zacks Investment Research upgraded Healthcare Services Group from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Friday, July 14th. Credit Suisse Group reiterated an “outperform” rating and set a $56.00 price objective (up from $50.00) on shares of Healthcare Services Group in a report on Thursday, July 13th. Stifel Nicolaus reiterated a “buy” rating and set a $50.00 price objective (up from $48.00) on shares of Healthcare Services Group in a report on Wednesday, July 12th. Finally, Robert W. Baird increased their price objective on Healthcare Services Group from $47.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, July 12th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price 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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