Healthcare Services Group (NASDAQ:HCSG) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Healthcare Services Group, Inc. (NASDAQ:HCSG) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $18.72 and traded as high as $18.82. Healthcare Services Group shares last traded at $18.79, with a volume of 741,671 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Benchmark reiterated a “buy” rating on shares of Healthcare Services Group in a research note on Thursday, February 12th. Robert W. Baird set a $23.00 target price on shares of Healthcare Services Group in a research note on Thursday, February 12th. Wall Street Zen upgraded shares of Healthcare Services Group from a “hold” rating to a “buy” rating in a research note on Sunday, March 29th. BMO Capital Markets reiterated a “market perform” rating and issued a $22.00 target price on shares of Healthcare Services Group in a research note on Thursday, February 12th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Healthcare Services Group in a research note on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $22.00.

Healthcare Services Group Stock Performance

The firm’s 50-day moving average is $19.93 and its two-hundred day moving average is $18.72. The stock has a market cap of $1.32 billion, a P/E ratio of 22.91 and a beta of 0.80.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings data on Wednesday, February 11th. The business services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.21. Healthcare Services Group had a net margin of 3.21% and a return on equity of 16.04%. The firm had revenue of $466.68 million during the quarter, compared to analysts’ expectations of $467.24 million. During the same quarter in the previous year, the company posted $0.16 EPS. Healthcare Services Group’s revenue was up 6.6% on a year-over-year basis. As a group, research analysts forecast that Healthcare Services Group, Inc. will post 0.74 EPS for the current year.

Insider Buying and Selling

In related news, EVP Patrick J. Orr sold 45,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $20.54, for a total value of $934,570.00. Following the completion of the transaction, the executive vice president owned 44,615 shares in the company, valued at $916,392.10. The trade was a 50.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Andrew M. Brophy sold 2,490 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $21.75, for a total transaction of $54,157.50. Following the sale, the chief accounting officer owned 15,735 shares of the company’s stock, valued at $342,236.25. The trade was a 13.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 146,962 shares of company stock worth $3,014,100 in the last quarter. Insiders own 2.60% of the company’s stock.

Institutional Trading of Healthcare Services Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Miller Global Investments LLC bought a new stake in shares of Healthcare Services Group during the 4th quarter valued at $26,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Healthcare Services Group during the 4th quarter valued at $33,000. EverSource Wealth Advisors LLC raised its position in shares of Healthcare Services Group by 163.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 1,356 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Healthcare Services Group by 94.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,843 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 1,384 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of Healthcare Services Group by 32.0% during the 4th quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock valued at $69,000 after acquiring an additional 877 shares during the last quarter. Institutional investors own 97.97% of the company’s stock.

About Healthcare Services Group

Healthcare Services Group, Inc (NASDAQ: HCSG) is a leading provider of support services to healthcare facilities across the United States. The company specializes in environmental services, including housekeeping and sanitation, as well as linen and laundry management. In addition, Healthcare Services Group offers dietary and nutrition services, catering to hospitals, skilled nursing facilities, assisted living communities and other long-term care providers.

Founded as a family-owned business in the late 1970s, the company completed its initial public offering in 1997.