Healthcare Services Group, Inc. (HCSG), a national company that provides  management, administrative, and operating services to hospitals yesterday reported their second quarter 2017 financial results.

Healthcare Services reported second quarter earnings of $0.30 per share which beat analyst expectations of $0.29 per share. Healthcare Services reported second quarter revenues of $470.9 million which beat analyst expectations of $422.7 million.  

Healthcare Services Group, Inc. CEO’s  Comments

(comments are from April after reporting first quarter results)

“The provider community’s renewed emphasis on core competencies, especially in this era of value-based purchasing, has increased the demand for outsourcing services of all kinds, including ours, that allow operators to focus on patient care and patient mix, which is really the lifeblood of their business rather than support services that tend to drain their already limited resources. This increased demand will present significant opportunities for us in the years ahead, which is why people development from the newest employee to the most experienced of leader remains our highest priority.” Seeking Alpha

HCSG Technical Analysis

HCSG opened trading yesterday at $46.25 which was up from the previous day’s trading close of $46.11. HCSG closed trading yesterday at $46.62 and spiked up aftermarket to $48.52, equivalent to a 4% increase from the closing price. Taking a look at the daily chart we can see the last time HCSG traded above these levels we have to go back to June 5th when it traded at $49.05.

Taking a closer look at the daily chart we can see that before the spike up HCSG had been in an overall downward trend dating back to June 2nd when it traded at $49.53. HCSG has a float of 70.57 million shares and traded 1.46 times the normal daily trading volume on Tuesday.