Raymond James Financial Inc. Makes New $5.91 Million Investment in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Raymond James Financial Inc. bought a new stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 508,736 shares of the business services provider’s stock, valued at approximately $5,909,000. Raymond James Financial Inc. owned 0.69% of Healthcare Services Group at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Barclays PLC increased its stake in Healthcare Services Group by 169.3% in the 3rd quarter. Barclays PLC now owns 145,926 shares of the business services provider’s stock valued at $1,631,000 after buying an additional 91,733 shares during the period. Geode Capital Management LLC grew its holdings in shares of Healthcare Services Group by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,760,971 shares of the business services provider’s stock valued at $19,674,000 after acquiring an additional 50,375 shares in the last quarter. Tidal Investments LLC increased its stake in shares of Healthcare Services Group by 1.7% in the third quarter. Tidal Investments LLC now owns 78,218 shares of the business services provider’s stock worth $874,000 after acquiring an additional 1,276 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Healthcare Services Group by 39.9% during the third quarter. Franklin Resources Inc. now owns 560,588 shares of the business services provider’s stock worth $5,858,000 after acquiring an additional 159,878 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Healthcare Services Group by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 773,635 shares of the business services provider’s stock valued at $8,642,000 after purchasing an additional 76,456 shares during the last quarter. 97.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Robert W. Baird upped their target price on Healthcare Services Group from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday. StockNews.com downgraded Healthcare Services Group from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Finally, UBS Group upgraded shares of Healthcare Services Group from a “neutral” rating to a “buy” rating and lifted their target price for the company from $12.00 to $15.00 in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.40.

Healthcare Services Group Stock Performance

Shares of HCSG stock opened at $13.52 on Friday. Healthcare Services Group, Inc. has a twelve month low of $9.13 and a twelve month high of $13.56. The stock’s 50 day simple moving average is $10.39 and its 200 day simple moving average is $11.09. The company has a market capitalization of $985.82 million, a price-to-earnings ratio of 25.04 and a beta of 0.62.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.05. Healthcare Services Group had a net margin of 2.30% and a return on equity of 11.76%. The business had revenue of $447.66 million during the quarter, compared to the consensus estimate of $443.82 million. On average, analysts forecast that Healthcare Services Group, Inc. will post 0.74 EPS for the current fiscal year.

Healthcare Services Group Profile

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.