BrightSpring Health Services (NASDAQ:BTSG) Receives Buy Rating from BTIG Research

BrightSpring Health Services (NASDAQ:BTSG)‘s stock had its “buy” rating reaffirmed by equities research analysts at BTIG Research in a report released on Monday,Benzinga reports. They presently have a $90.00 price target on the stock. BTIG Research’s target price indicates a potential upside of 50.73% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. UBS Group raised their price target on BrightSpring Health Services from $63.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. TD Cowen upped their price objective on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, June 18th. The Goldman Sachs Group assumed coverage on shares of BrightSpring Health Services in a research report on Monday, June 8th. They issued a “buy” rating and a $71.00 price objective on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $60.00 target price on shares of BrightSpring Health Services in a research note on Monday, May 4th. Finally, Morgan Stanley lifted their target price on shares of BrightSpring Health Services from $71.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $70.12.

BrightSpring Health Services Price Performance

NASDAQ:BTSG opened at $59.71 on Monday. BrightSpring Health Services has a 12-month low of $19.01 and a 12-month high of $73.75. The firm has a market capitalization of $11.78 billion, a price-to-earnings ratio of 35.97, a P/E/G ratio of 0.75 and a beta of 1.88. The stock’s 50 day moving average price is $66.37 and its two-hundred day moving average price is $51.95. The company has a quick ratio of 1.22, a current ratio of 1.59 and a debt-to-equity ratio of 1.06.

BrightSpring Health Services (NASDAQ:BTSG) last issued its earnings results on Friday, July 31st. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.40 by $0.05. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.66 billion. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%.The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 EPS. On average, analysts anticipate that BrightSpring Health Services will post 1.71 earnings per share for the current year.

Insider Buying and Selling at BrightSpring Health Services

In related news, insider Jon B. Rousseau sold 130,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the transaction, the insider directly owned 1,194,503 shares of the company’s stock, valued at approximately $70,177,051.25. This trade represents a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lisa A. Nalley sold 35,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider directly owned 131,948 shares of the company’s stock, valued at $7,751,945. This represents a 20.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On BrightSpring Health Services

Hedge funds have recently added to or reduced their stakes in the stock. NBC Securities Inc. acquired a new stake in shares of BrightSpring Health Services during the 4th quarter worth $29,000. Salomon & Ludwin LLC acquired a new stake in shares of BrightSpring Health Services during the 4th quarter worth approximately $30,000. GHP Investment Advisors Inc. acquired a new position in BrightSpring Health Services during the first quarter valued at approximately $31,000. EverSource Wealth Advisors LLC bought a new stake in BrightSpring Health Services during the second quarter worth $43,000. Finally, Meeder Asset Management Inc. bought a new position in shares of BrightSpring Health Services in the 1st quarter valued at $52,000.

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.