New York State Teachers Retirement System Trims Position in Healthcare Services Group, Inc. (NASDAQ:HCSG)

New York State Teachers Retirement System lessened its stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 1.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 114,433 shares of the business services provider’s stock after selling 1,300 shares during the quarter. New York State Teachers Retirement System’s holdings in Healthcare Services Group were worth $1,187,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Healthcare Services Group by 7.5% during the second quarter. BlackRock Inc. now owns 12,967,339 shares of the business services provider’s stock worth $193,602,000 after purchasing an additional 907,374 shares in the last quarter. State Street Corp grew its holdings in shares of Healthcare Services Group by 7.0% during the second quarter. State Street Corp now owns 4,350,572 shares of the business services provider’s stock worth $75,743,000 after purchasing an additional 285,326 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Healthcare Services Group by 604.0% during the first quarter. Invesco Ltd. now owns 2,278,042 shares of the business services provider’s stock worth $42,303,000 after purchasing an additional 1,954,436 shares in the last quarter. Morgan Stanley grew its holdings in shares of Healthcare Services Group by 39.8% during the third quarter. Morgan Stanley now owns 1,867,209 shares of the business services provider’s stock worth $19,475,000 after purchasing an additional 531,600 shares in the last quarter. Finally, Heartland Advisors Inc. grew its holdings in shares of Healthcare Services Group by 34.5% during the third quarter. Heartland Advisors Inc. now owns 1,597,456 shares of the business services provider’s stock worth $17,591,000 after purchasing an additional 409,417 shares in the last quarter. Hedge funds and other institutional investors own 97.97% of the company’s stock.

Healthcare Services Group Price Performance

NASDAQ:HCSG opened at $11.58 on Thursday. The business has a 50 day moving average of $12.06 and a 200 day moving average of $10.67. The company has a market capitalization of $852.81 million, a price-to-earnings ratio of 21.85 and a beta of 0.49. Healthcare Services Group, Inc. has a 1-year low of $8.75 and a 1-year high of $15.97.

Healthcare Services Group (NASDAQ:HCSG) last released its earnings results on Wednesday, February 14th. The business services provider reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. Healthcare Services Group had a return on equity of 10.81% and a net margin of 2.30%. The company had revenue of $423.80 million during the quarter, compared to the consensus estimate of $424.57 million. During the same quarter in the previous year, the company posted $0.22 EPS. Healthcare Services Group’s quarterly revenue was up .0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Healthcare Services Group, Inc. will post 0.77 EPS for the current year.

Wall Street Analysts Forecast Growth

HCSG has been the subject of several recent analyst reports. Royal Bank of Canada boosted their price objective on Healthcare Services Group from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. StockNews.com raised Healthcare Services Group from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Robert W. Baird boosted their target price on Healthcare Services Group from $10.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Benchmark boosted their target price on Healthcare Services Group from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Finally, UBS Group boosted their target price on Healthcare Services Group from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $14.50.

About Healthcare Services Group

Healthcare Services Group, Inc provides management, administrative, and operating services to the housekeeping, laundry, linen, facility maintenance, and dietary service departments of nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.