BrightSpring Health Services (NASDAQ:BTSG) Releases Earnings Results, Beats Expectations By $0.06 EPS

BrightSpring Health Services (NASDAQ:BTSG) issued its quarterly earnings data on Thursday. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.06, Briefing.com reports. The business had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter last year, the firm earned ($0.10) EPS. BrightSpring Health Services’s revenue for the quarter was up 27.0% compared to the same quarter last year.

BrightSpring Health Services Stock Up 4.0 %

Shares of NASDAQ BTSG traded up $0.44 during mid-day trading on Friday, reaching $11.50. 1,534,327 shares of the company’s stock traded hands, compared to its average volume of 2,100,711. The company has a debt-to-equity ratio of 5.73, a current ratio of 1.17 and a quick ratio of 0.84. The business has a 50-day moving average of $9.95. BrightSpring Health Services has a 1-year low of $7.85 and a 1-year high of $12.14.

Analysts Set New Price Targets

Several research firms have commented on BTSG. Morgan Stanley initiated coverage on shares of BrightSpring Health Services in a report on Tuesday, February 20th. They issued an “overweight” rating and a $18.00 target price on the stock. Guggenheim assumed coverage on BrightSpring Health Services in a report on Tuesday, February 20th. They set a “buy” rating and a $15.00 price target for the company. The Goldman Sachs Group reduced their price objective on BrightSpring Health Services from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. Leerink Partnrs reissued an “outperform” rating on shares of BrightSpring Health Services in a research note on Tuesday, February 20th. Finally, Wells Fargo & Company started coverage on shares of BrightSpring Health Services in a research note on Tuesday, February 20th. They issued an “overweight” rating and a $15.00 price target on the stock. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $15.75.

Insider Buying and Selling at BrightSpring Health Services

In related news, insider James F. Mattingly, Jr. purchased 12,280 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $8.18 per share, for a total transaction of $100,450.40. Following the completion of the acquisition, the insider now owns 128,700 shares of the company’s stock, valued at approximately $1,052,766. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Jennifer A. Phipps bought 12,300 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $8.14 per share, with a total value of $100,122.00. Following the transaction, the chief accounting officer now directly owns 165,618 shares in the company, valued at $1,348,130.52. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider James F. Mattingly, Jr. bought 12,280 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average price of $8.18 per share, for a total transaction of $100,450.40. Following the purchase, the insider now directly owns 128,700 shares in the company, valued at $1,052,766. The disclosure for this purchase can be found here.

BrightSpring Health Services Company Profile

BrightSpring Health Services, Inc operates a home and community-based healthcare services platform in the United States. The company's platform focuses on delivering pharmacy and provider services, including clinical and supportive care in home and community settings to Medicare, Medicaid, and insured populations.