ValuEngine upgraded shares of Healthcare Services Group (NASDAQ:HCSG) from a sell rating to a hold rating in a research report sent to investors on Wednesday.

A number of other analysts have also recently issued reports on HCSG. BidaskClub raised Healthcare Services Group from a sell rating to a hold rating in a research note on Thursday, June 21st. Zacks Investment Research cut Healthcare Services Group from a hold rating to a sell rating in a research note on Wednesday, April 25th. Jefferies Financial Group raised Healthcare Services Group from a hold rating to a buy rating and increased their target price for the stock from $40.00 to $53.00 in a research note on Wednesday, June 27th. Benchmark reissued a buy rating on shares of Healthcare Services Group in a research note on Wednesday, July 18th. Finally, William Blair raised Healthcare Services Group from a market perform rating to an outperform rating in a research note on Wednesday, June 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $47.00.

NASDAQ HCSG opened at $41.21 on Wednesday. Healthcare Services Group has a 52-week low of $35.04 and a 52-week high of $56.20. The company has a market cap of $3.08 billion, a P/E ratio of 34.87 and a beta of 0.82.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Tuesday, July 17th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). Healthcare Services Group had a return on equity of 17.46% and a net margin of 3.48%. The business had revenue of $503.70 million for the quarter, compared to the consensus estimate of $508.78 million. During the same period in the previous year, the company posted $0.30 earnings per share. Healthcare Services Group’s revenue for the quarter was up 7.0% compared to the same quarter last year. analysts anticipate that Healthcare Services Group will post 1.48 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, August 24th will be given a dividend of $0.1938 per share. The ex-dividend date of this dividend is Thursday, August 23rd. This represents a $0.78 dividend on an annualized basis and a yield of 1.88%. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.19. Healthcare Services Group’s dividend payout ratio is 64.71%.

In other Healthcare Services Group news, Director Dino D. Ottaviano sold 1,150 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $41.05, for a total transaction of $47,207.50. Following the completion of the transaction, the director now owns 1,694 shares of the company’s stock, valued at approximately $69,538.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert J. Moss sold 3,001 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $41.64, for a total value of $124,961.64. Following the transaction, the director now directly owns 3,001 shares of the company’s stock, valued at approximately $124,961.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,152 shares of company stock valued at $297,041. Insiders own 1.00% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its position in Healthcare Services Group by 15.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,148,501 shares of the business services provider’s stock worth $49,606,000 after acquiring an additional 154,058 shares during the last quarter. Signature Financial Management Inc. acquired a new position in Healthcare Services Group during the 2nd quarter worth approximately $216,000. DF Dent & Co. Inc. boosted its position in Healthcare Services Group by 19.0% during the 2nd quarter. DF Dent & Co. Inc. now owns 2,269,253 shares of the business services provider’s stock worth $98,009,000 after acquiring an additional 361,560 shares during the last quarter. Waddell & Reed Financial Inc. boosted its holdings in shares of Healthcare Services Group by 121.9% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 1,218,984 shares of the business services provider’s stock valued at $52,648,000 after buying an additional 669,670 shares during the last quarter. Finally, MetLife Investment Advisors LLC boosted its holdings in shares of Healthcare Services Group by 3.0% in the 2nd quarter. MetLife Investment Advisors LLC now owns 80,115 shares of the business services provider’s stock valued at $3,460,000 after buying an additional 2,325 shares during the last quarter. 97.93% of the stock is owned by hedge funds and other institutional investors.

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 to nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.

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Analyst Recommendations for Healthcare Services Group (NASDAQ:HCSG)

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