BrightSpring Health Services (NASDAQ:BTSG) Stock Price Expected to Rise, TD Cowen Analyst Says

BrightSpring Health Services (NASDAQ:BTSG) had its price objective increased by analysts at TD Cowen from $81.00 to $84.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen‘s price target would indicate a potential upside of 29.18% from the company’s current price.

Other equities analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $70.00 target price on shares of BrightSpring Health Services in a research note on Monday, August 3rd. BMO Capital Markets restated an “outperform” rating on shares of BrightSpring Health Services in a research note on Friday, October 2nd. Guggenheim started coverage on shares of BrightSpring Health Services in a research report on Monday, July 13th. They set a “buy” rating and a $81.00 price target on the stock. KeyCorp reiterated an “overweight” rating on shares of BrightSpring Health Services in a research note on Monday, August 3rd. Finally, Wells Fargo & Company boosted their price objective on shares of BrightSpring Health Services from $78.00 to $82.00 and gave the company an “overweight” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $74.94.

BrightSpring Health Services Stock Performance

Shares of BTSG stock traded down $1.86 during midday trading on Monday, hitting $65.03. 1,173,311 shares of the company were exchanged, compared to its average volume of 2,847,335. The firm has a market capitalization of $12.87 billion, a P/E ratio of 35.18, a PEG ratio of 0.87 and a beta of 1.77. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.22 and a current ratio of 1.62. The firm’s 50 day moving average price is $59.94 and its two-hundred day moving average price is $54.54. BrightSpring Health Services has a 52 week low of $30.64 and a 52 week high of $73.75.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings results on Friday, October 30th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.07. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $3.88 billion. BrightSpring Health Services had a net margin of 2.69% and a return on equity of 18.56%. BrightSpring Health Services’s quarterly revenue was up 26.4% on a year-over-year basis. As a group, equities research analysts anticipate that BrightSpring Health Services will post 1.64 earnings per share for the current year.

Institutional Investors Weigh In On BrightSpring Health Services

Several institutional investors and hedge funds have recently bought and sold shares of BTSG. The Manufacturers Life Insurance Company acquired a new position in shares of BrightSpring Health Services in the 2nd quarter valued at approximately $239,377,000. Bank of America Corp DE bought a new stake in BrightSpring Health Services during the second quarter worth $127,475,000. Bank of New York Mellon Corp acquired a new stake in shares of BrightSpring Health Services in the 2nd quarter valued at $118,162,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of BrightSpring Health Services by 109.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,370,440 shares of the company’s stock valued at $58,394,000 after purchasing an additional 716,949 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of BrightSpring Health Services by 236.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 860,134 shares of the company’s stock valued at $36,151,000 after purchasing an additional 604,232 shares in the last quarter.

BrightSpring Health Services Company Profile

BrightSpring Health Services (NASDAQ:BTSG) is a Louisville, Kentucky-based provider of home- and community-based health services and pharmacy services. The company focuses on supporting individuals with complex or chronic care needs, including older adults and people with disabilities, through care delivered in homes, communities and other non-hospital settings.

Its services include home health, hospice, personal care, behavioral health, primary care, rehabilitation and community living programs.