BrightSpring Health Services (NASDAQ:BTSG) Reaches New 1-Year High – Should You Buy?

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $70.73 and last traded at $70.1550, with a volume of 2301 shares traded. The stock had previously closed at $69.85.

Analysts Set New Price Targets

Several research firms recently commented on BTSG. Wells Fargo & Company boosted their target price on BrightSpring Health Services from $50.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. BMO Capital Markets set a $70.00 price target on BrightSpring Health Services in a report on Thursday, May 21st. Wall Street Zen upgraded BrightSpring Health Services from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 20th. Leerink Partners reissued an “outperform” rating and set a $49.00 price objective on shares of BrightSpring Health Services in a report on Wednesday, March 18th. Finally, TD Cowen upped their price objective on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company. According to MarketBeat.com, BrightSpring Health Services has a consensus rating of “Buy” and an average price target of $61.27.

BrightSpring Health Services Price Performance

The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.38 and a current ratio of 1.74. The stock has a market capitalization of $13.58 billion, a P/E ratio of 48.81, a price-to-earnings-growth ratio of 0.90 and a beta of 1.79. The firm has a 50-day moving average price of $58.84 and a 200 day moving average price of $46.96.

BrightSpring Health Services (NASDAQ:BTSG) last released its earnings results on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.BrightSpring Health Services’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS. On average, analysts expect that BrightSpring Health Services, Inc. will post 1.67 EPS for the current year.

Insider Activity at BrightSpring Health Services

In other news, insider Jon B. Rousseau sold 130,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $7,637,500.00. Following the completion of the sale, the insider directly owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. The trade was a 9.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Lisa A. Nalley sold 35,000 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $2,056,250.00. Following the transaction, the insider directly owned 131,948 shares in the company, valued at approximately $7,751,945. This represents a 20.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.80% of the company’s stock.

Institutional Trading of BrightSpring Health Services

Several institutional investors have recently added to or reduced their stakes in BTSG. Vanguard Group Inc. increased its holdings in shares of BrightSpring Health Services by 30.5% in the fourth quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company’s stock worth $469,385,000 after buying an additional 2,928,953 shares during the period. The Manufacturers Life Insurance Company grew its position in BrightSpring Health Services by 936.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company’s stock worth $53,705,000 after acquiring an additional 2,056,920 shares during the last quarter. State Street Corp grew its position in BrightSpring Health Services by 99.5% during the 4th quarter. State Street Corp now owns 4,033,149 shares of the company’s stock worth $151,041,000 after acquiring an additional 2,011,095 shares during the last quarter. Jane Street Group LLC increased its stake in BrightSpring Health Services by 855.4% in the 2nd quarter. Jane Street Group LLC now owns 2,076,730 shares of the company’s stock worth $48,990,000 after purchasing an additional 1,859,369 shares during the period. Finally, 8 Knots Management LLC purchased a new position in BrightSpring Health Services in the 3rd quarter worth approximately $51,244,000.

BrightSpring Health Services Company Profile

BrightSpring Health Services (NASDAQ: BTSG) is a leading provider of home and community-based care and workforce solutions aimed at seniors, individuals with disabilities and those facing behavioral health challenges. The company’s operations encompass a broad spectrum of services, including personal care, skilled nursing, therapy, habilitation and supported living, as well as specialized behavioral health programs delivered through both clinical and non-clinical channels.

Through its network of subsidiary brands, BrightSpring offers integrated care in the patient’s home environment, fostering independence and improving quality of life.