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

Healthcare Services Group, Inc. (NASDAQ:HCSG)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $16.72 and traded as high as $19.43. Healthcare Services Group shares last traded at $19.09, with a volume of 475,716 shares.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HCSG. UBS Group reiterated a “buy” rating on shares of Healthcare Services Group in a research note on Monday, November 24th. Macquarie reissued a “buy” rating on shares of Healthcare Services Group in a report on Wednesday, November 26th. Benchmark boosted their price target on Healthcare Services Group from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Healthcare Services Group in a research report on Monday, December 29th. Finally, Zacks Research cut shares of Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.40.

Healthcare Services Group Stock Up 0.3%

The company has a 50-day simple moving average of $18.79 and a two-hundred day simple moving average of $16.74. The firm has a market cap of $1.33 billion, a PE ratio of 35.26 and a beta of 0.71.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings results on Wednesday, October 22nd. The business services provider reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.02. The firm had revenue of $464.34 million for the quarter, compared to analysts’ expectations of $460.36 million. Healthcare Services Group had a return on equity of 12.23% and a net margin of 2.20%.The company’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.19 earnings per share. As a group, equities analysts predict that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current year.

Hedge Funds Weigh In On Healthcare Services Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Trail Ridge Investment Advisors LLC boosted its position in Healthcare Services Group by 2.6% during the third quarter. Trail Ridge Investment Advisors LLC now owns 24,309 shares of the business services provider’s stock valued at $409,000 after buying an additional 609 shares during the period. Amalgamated Bank lifted its position in Healthcare Services Group by 3.4% in the third quarter. Amalgamated Bank now owns 21,563 shares of the business services provider’s stock valued at $363,000 after purchasing an additional 719 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Healthcare Services Group by 29.7% in the fourth quarter. GAMMA Investing LLC now owns 3,688 shares of the business services provider’s stock worth $71,000 after purchasing an additional 845 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Healthcare Services Group by 0.5% in the third quarter. Legal & General Group Plc now owns 200,393 shares of the business services provider’s stock worth $3,373,000 after buying an additional 970 shares during the period. Finally, Glenmede Investment Management LP raised its holdings in Healthcare Services Group by 3.5% during the 3rd quarter. Glenmede Investment Management LP now owns 29,689 shares of the business services provider’s stock valued at $500,000 after buying an additional 1,016 shares during the last quarter. 97.97% of the stock is currently owned by hedge funds and other institutional investors.

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.