Nuveen LLC Purchases New Shares in Healthcare Services Group, Inc. $HCSG

Key Points

• Nuveen LLC has acquired a new stake in Healthcare Services Group, purchasing over 1.1 million shares, valued at approximately $11.74 million, which represents about 1.60% of the company's stock.
• Healthcare Services Group's stock has been upgraded by various analysts with price targets ranging from $15.00 to $19.00, reflecting a consensus rating of "Buy" and a target price of $16.25.
• In its latest quarterly earnings, the company reported $0.21 earnings per share, exceeding estimates, with revenue up 7.6% year-over-year at $458.50 million.

Nuveen LLC acquired a new position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,165,133 shares of the business services provider's stock, valued at approximately $11,745,000. Nuveen LLC owned approximately 1.60% of Healthcare Services Group at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Sterling Capital Management LLC lifted its holdings in shares of Healthcare Services Group by 803.4% in the fourth quarter. Sterling Capital Management LLC now owns 2,358 shares of the business services provider's stock valued at $27,000 after purchasing an additional 2,097 shares in the last quarter. US Bancorp DE raised its position in shares of Healthcare Services Group by 161.4% in the first quarter. US Bancorp DE now owns 8,097 shares of the business services provider's stock valued at $82,000 after buying an additional 5,000 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Healthcare Services Group in the fourth quarter valued at approximately $118,000. PharVision Advisers LLC acquired a new position in shares of Healthcare Services Group in the fourth quarter valued at approximately $147,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Healthcare Services Group by 45.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,592 shares of the business services provider's stock valued at $147,000 after buying an additional 4,548 shares during the last quarter. Hedge funds and other institutional investors own 97.97% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on HCSG. Robert W. Baird boosted their price objective on shares of Healthcare Services Group from $13.00 to $15.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Benchmark boosted their price objective on shares of Healthcare Services Group from $17.00 to $19.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Zacks Research raised shares of Healthcare Services Group to a "strong-buy" rating in a research report on Tuesday, August 12th. Macquarie raised shares of Healthcare Services Group from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $15.00 to $16.00 in a research report on Tuesday, July 29th. Finally, Wall Street Zen lowered shares of Healthcare Services Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $16.25.

Insiders Place Their Bets

In related news, EVP John Christopher Shea sold 21,368 shares of the firm's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $13.25, for a total transaction of $283,126.00. Following the completion of the sale, the executive vice president directly owned 32,976 shares of the company's stock, valued at approximately $436,932. This trade represents a 39.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.60% of the company's stock.

Healthcare Services Group Stock Up 0.6%

Shares of Healthcare Services Group stock traded up $0.09 during trading hours on Thursday, hitting $15.67. The company's stock had a trading volume of 527,979 shares, compared to its average volume of 848,326. Healthcare Services Group, Inc. has a 1-year low of $9.13 and a 1-year high of $15.89. The business has a fifty day moving average of $14.35 and a 200 day moving average of $12.88. The company has a market capitalization of $1.13 billion, a PE ratio of 111.93 and a beta of 0.54.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.01. The business had revenue of $458.50 million during the quarter, compared to analyst estimates of $450.78 million. Healthcare Services Group had a net margin of 0.61% and a return on equity of 11.74%. The business's revenue was up 7.6% on a year-over-year basis. During the same period last year, the business earned $0.20 EPS. Healthcare Services Group has set its Q3 2025 guidance at EPS. On average, sell-side analysts anticipate that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current fiscal year.

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