Louisiana State Employees Retirement System Takes Position in Healthcare Services Group, Inc. $HCSG

Louisiana State Employees Retirement System bought a new position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) during the first quarter, HoldingsChannel reports. The institutional investor bought 31,200 shares of the business services provider’s stock, valued at approximately $579,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Miller Global Investments LLC bought a new position in shares of Healthcare Services Group during the 4th quarter valued at about $26,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Healthcare Services Group in the 4th quarter worth approximately $33,000. EverSource Wealth Advisors LLC raised its holdings in shares of Healthcare Services Group by 163.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock worth $33,000 after purchasing an additional 1,356 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Healthcare Services Group by 32.0% during the fourth quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock valued at $69,000 after purchasing an additional 877 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Healthcare Services Group by 29.7% during the fourth quarter. GAMMA Investing LLC now owns 3,688 shares of the business services provider’s stock worth $71,000 after buying an additional 845 shares in the last quarter. 97.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Benchmark upped their price target on Healthcare Services Group from $28.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. BMO Capital Markets raised their price objective on Healthcare Services Group from $22.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, April 23rd. Weiss Ratings restated a “hold (c+)” rating on shares of Healthcare Services Group in a report on Tuesday, June 2nd. Zacks Research lowered Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Finally, UBS Group upped their target price on Healthcare Services Group from $25.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. 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 stock currently has an average rating of “Hold” and a consensus target price of $24.00.

Healthcare Services Group Stock Performance

NASDAQ HCSG opened at $24.39 on Wednesday. Healthcare Services Group, Inc. has a twelve month low of $12.66 and a twelve month high of $25.75. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 25.41 and a beta of 0.78. The firm’s 50 day moving average price is $22.04 and its two-hundred day moving average price is $20.51.

Healthcare Services Group (NASDAQ:HCSG) last released its earnings results on Wednesday, April 22nd. The business services provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.15. The company had revenue of $462.77 million during the quarter, compared to analyst estimates of $479.79 million. Healthcare Services Group had a return on equity of 17.81% and a net margin of 3.67%.The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 earnings per share. On average, research analysts forecast that Healthcare Services Group, Inc. will post 1.01 EPS for the current fiscal year.

Healthcare Services Group Profile

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.