TD Asset Management Inc. Acquires Shares of 6,383 Healthcare Services Group Inc. (HCSG)
TD Asset Management Inc. acquired a new position in Healthcare Services Group Inc. (NASDAQ:HCSG) during the second quarter, Holdings Channel reports. The firm acquired 6,383 shares of the company’s stock, valued at approximately $264,000.
A number of other institutional investors also recently bought and sold shares of the company. Emerald Acquisition Ltd. bought a new position in Healthcare Services Group during the second quarter worth approximately $20,450,000. Henderson Group PLC raised its position in Healthcare Services Group by 57.6% in the second quarter. Henderson Group PLC now owns 801,344 shares of the company’s stock worth $33,160,000 after buying an additional 292,858 shares during the period. Renaissance Technologies LLC raised its position in Healthcare Services Group by 256.6% in the first quarter. Renaissance Technologies LLC now owns 318,664 shares of the company’s stock worth $11,730,000 after buying an additional 229,300 shares during the period. Goldman Sachs Group Inc. raised its position in Healthcare Services Group by 7.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,395,375 shares of the company’s stock worth $51,364,000 after buying an additional 92,382 shares during the period. Finally, Palisade Capital Management LLC NJ raised its position in Healthcare Services Group by 10.6% in the first quarter. Palisade Capital Management LLC NJ now owns 670,697 shares of the company’s stock worth $24,688,000 after buying an additional 64,321 shares during the period. Hedge funds and other institutional investors own 94.96% of the company’s stock.
Healthcare Services Group Inc. (NASDAQ:HCSG) traded up 0.42% during midday trading on Monday, hitting $38.04. The company had a trading volume of 391,822 shares. The firm has a market capitalization of $2.76 billion, a P/E ratio of 43.67 and a beta of 0.56. The firm’s 50 day moving average is $39.23 and its 200-day moving average is $38.29. Healthcare Services Group Inc. has a 52 week low of $31.50 and a 52 week high of $42.18.
Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings results on Tuesday, July 12th. The company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. Healthcare Services Group had a net margin of 4.25% and a return on equity of 20.70%. The business earned $386.56 million during the quarter, compared to analysts’ expectations of $392.26 million. During the same period last year, the business earned $0.23 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, equities research analysts expect that Healthcare Services Group Inc. will post $1.05 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, August 19th will be given a dividend of $0.1838 per share. The ex-dividend date of this dividend is Wednesday, August 17th. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.18. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.93%. Healthcare Services Group’s dividend payout ratio (DPR) is currently 83.15%.
A number of equities analysts have commented on HCSG shares. William Blair lowered Healthcare Services Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 7th. Zacks Investment Research lowered Healthcare Services Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Robert W. Baird initiated coverage on Healthcare Services Group in a research note on Friday. They issued an “outperform” rating and a $46.00 price target on the stock. Finally, Jefferies Group lifted their price target on Healthcare Services Group from $36.00 to $41.00 and gave the company a “hold” rating in a research note on Wednesday, July 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $41.25.
In other Healthcare Services Group news, Director Robert L. Frome sold 3,365 shares of Healthcare Services Group stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $38.10, for a total transaction of $128,206.50. Following the completion of the sale, the director now directly owns 33,866 shares in the company, valued at $1,290,294.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 4.80% of the company’s stock.
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. The Company caters to nursing homes, retirement complexes, rehabilitation centers and hospitals located in the United States.
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