425,002 Shares in Healthcare Services Group, Inc. $HCSG Acquired by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 425,002 shares of Healthcare Services Group in the second quarter, worth approximately $10.4 million and representing about 0.62% of the company. Institutional investors collectively own 97.97% of HCSG.
• Healthcare Services Group reported quarterly EPS of $0.32, beating analyst estimates of $0.22, while revenue was approximately $470.8 million. Analysts expect full-year EPS of $1.14.
• HCSG has a consensus “Moderate Buy” rating and a $26.50 price target, compared with a recent share price of $21.77; price targets range as high as $30.

Bank of New York Mellon Corp acquired a new position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 425,002 shares of the business services provider's stock, valued at approximately $10,438,000. Bank of New York Mellon Corp owned about 0.62% of Healthcare Services Group as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the company. Empowered Funds LLC boosted its position in shares of Healthcare Services Group by 123.6% in the 1st quarter. Empowered Funds LLC now owns 215,824 shares of the business services provider's stock worth $4,004,000 after buying an additional 119,290 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Healthcare Services Group by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,400,681 shares of the business services provider's stock valued at $44,534,000 after acquiring an additional 62,689 shares in the last quarter. Y Intercept Hong Kong Ltd raised its position in Healthcare Services Group by 616.2% during the first quarter. Y Intercept Hong Kong Ltd now owns 74,230 shares of the business services provider's stock worth $1,377,000 after acquiring an additional 63,866 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Healthcare Services Group by 5.5% in the first quarter. Janus Henderson Group PLC now owns 890,035 shares of the business services provider's stock valued at $16,510,000 after purchasing an additional 46,427 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of Healthcare Services Group by 33.1% in the first quarter. Royal Bank of Canada now owns 393,601 shares of the business services provider's stock valued at $7,301,000 after purchasing an additional 97,833 shares in the last quarter. 97.97% of the stock is currently owned by hedge funds and other institutional investors.

Healthcare Services Group Price Performance

Shares of NASDAQ:HCSG opened at $21.77 on Thursday. The business has a 50-day moving average of $23.25 and a two-hundred day moving average of $21.58. The firm has a market capitalization of $1.49 billion, a PE ratio of 12.66 and a beta of 0.80. Healthcare Services Group, Inc. has a 12 month low of $15.13 and a 12 month high of $25.75.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.10. Healthcare Services Group had a return on equity of 18.97% and a net margin of 6.59%.The business had revenue of $470.81 million during the quarter, compared to analysts' expectations of $471.22 million. During the same quarter in the previous year, the business earned ($0.44) EPS. As a group, research analysts anticipate that Healthcare Services Group, Inc. will post 1.14 earnings per share for the current year.

Insider Transactions at Healthcare Services Group

In other news, COO Andrew Kush sold 15,598 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $23.24, for a total value of $362,497.52. Following the completion of the sale, the chief operating officer owned 22,741 shares of the company's stock, valued at $528,500.84. This represents a 40.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

HCSG has been the subject of several research reports. Wall Street Zen downgraded Healthcare Services Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Oppenheimer initiated coverage on Healthcare Services Group in a research report on Wednesday, August 19th. They set an "outperform" rating and a $28.00 price target for the company. UBS Group boosted their price target on Healthcare Services Group from $27.00 to $30.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. Zacks Research upgraded Healthcare Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 3rd. Finally, Weiss Ratings raised Healthcare Services Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Healthcare Services Group has a consensus rating of "Moderate Buy" and a consensus price target of $26.50.

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.

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