BrightSpring Health Services (NASDAQ:BTSG) Stock Price Up 4.3% – Should You Buy?

BrightSpring Health Services, Inc. (NASDAQ:BTSG) shares were up 4.3% during trading on Wednesday . The company traded as high as $59.30 and last traded at $59.6850. 367,309 shares changed hands during trading, a decline of 88% from the average session volume of 2,973,729 shares. The stock had previously closed at $57.23.

Analyst Upgrades and Downgrades

BTSG has been the topic of a number of research reports. Raymond James Financial assumed coverage on BrightSpring Health Services in a report on Thursday, July 9th. They issued an “outperform” rating and a $80.00 price objective on the stock. Zacks Research raised BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. TD Cowen upped their target price on BrightSpring Health Services from $65.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Guggenheim started coverage on shares of BrightSpring Health Services in a report on Monday, July 13th. They issued a “buy” rating and a $81.00 price target on the stock. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of BrightSpring Health Services in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating and eighteen have assigned a Buy rating to the company. Based on data from MarketBeat.com, BrightSpring Health Services has a consensus rating of “Buy” and a consensus target price of $70.71.

BrightSpring Health Services Price Performance

The firm has a market cap of $11.83 billion, a PE ratio of 35.96, a price-to-earnings-growth ratio of 0.71 and a beta of 1.88. The stock has a 50 day simple moving average of $66.22 and a two-hundred day simple moving average of $54.47. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.22 and a current ratio of 1.59.

BrightSpring Health Services (NASDAQ:BTSG) last issued its earnings results on Friday, July 31st. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. The firm had revenue of $3.87 billion for 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 company’s revenue was up 23.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 earnings per share. Sell-side analysts expect that BrightSpring Health Services, Inc. will post 1.82 earnings per share for the current year.

Insider Buying and Selling

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 130,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $7,637,500.00. Following the sale, the insider owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. This represents a 9.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Lisa A. Nalley sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $2,056,250.00. Following the completion of the sale, the insider 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. Insiders own 2.80% of the company’s stock.

Institutional Trading of BrightSpring Health Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in BrightSpring Health Services by 30.5% in the fourth quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company’s stock valued at $469,385,000 after buying an additional 2,928,953 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of BrightSpring Health Services by 7,273.3% during the 2nd quarter. California State Teachers Retirement System now owns 11,660,667 shares of the company’s stock worth $813,215,000 after acquiring an additional 11,502,520 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of BrightSpring Health Services by 4.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,662,236 shares of the company’s stock worth $399,302,000 after acquiring an additional 478,436 shares in the last quarter. Invesco Ltd. grew its position in shares of BrightSpring Health Services by 13.4% during the 4th quarter. Invesco Ltd. now owns 10,595,232 shares of the company’s stock valued at $396,791,000 after acquiring an additional 1,248,107 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its position in shares of BrightSpring Health Services by 21.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,123,865 shares of the company’s stock valued at $229,339,000 after acquiring an additional 1,091,757 shares during the period.

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.