BrightSpring Health Services (NASDAQ:BTSG) Shares Up 4.9% Following Analyst Upgrade

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) rose 4.9% on Wednesday after UBS Group raised their price target on the stock from $53.00 to $55.00. UBS Group currently has a buy rating on the stock. BrightSpring Health Services traded as high as $44.60 and last traded at $44.1530. Approximately 1,071,334 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 2,264,648 shares. The stock had previously closed at $42.10.

Several other research firms also recently commented on BTSG. CJS Securities raised BrightSpring Health Services to a “strong-buy” rating in a report on Thursday, December 11th. Stephens began coverage on shares of BrightSpring Health Services in a report on Wednesday, December 10th. They set an “overweight” rating and a $44.00 target price on the stock. KeyCorp raised shares of BrightSpring Health Services from a “sector weight” rating to an “overweight” rating and set a $45.00 price target on the stock in a research report on Friday, December 12th. Mizuho increased their price target on shares of BrightSpring Health Services from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, TD Cowen reissued a “buy” rating on shares of BrightSpring Health Services in a research report on Monday, March 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $45.23.

Insider Buying and Selling

In related news, insider Lisa A. Nalley sold 30,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total value of $1,234,500.00. Following the completion of the sale, the insider directly owned 110,594 shares in the company, valued at $4,550,943.10. The trade was a 21.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jon B. Rousseau sold 220,000 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total value of $9,053,000.00. Following the completion of the transaction, the insider directly owned 1,023,880 shares in the company, valued at approximately $42,132,662. This represents a 17.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 285,000 shares of company stock valued at $11,727,750. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On BrightSpring Health Services

A number of hedge funds have recently bought and sold shares of BTSG. NBC Securities Inc. bought a new stake in BrightSpring Health Services in the 4th quarter valued at about $29,000. Salomon & Ludwin LLC bought a new position in shares of BrightSpring Health Services during the fourth quarter worth approximately $30,000. EverSource Wealth Advisors LLC acquired a new stake in shares of BrightSpring Health Services in the second quarter valued at approximately $43,000. CWM LLC raised its position in shares of BrightSpring Health Services by 105.3% in the third quarter. CWM LLC now owns 1,595 shares of the company’s stock valued at $47,000 after buying an additional 818 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of BrightSpring Health Services by 112.8% in the fourth quarter. Farther Finance Advisors LLC now owns 1,717 shares of the company’s stock valued at $64,000 after buying an additional 910 shares during the period.

BrightSpring Health Services Trading Up 5.0%

The firm has a market capitalization of $8.56 billion, a P/E ratio of 50.17, a PEG ratio of 0.51 and a beta of 2.31. The company has a quick ratio of 1.12, a current ratio of 1.57 and a debt-to-equity ratio of 1.32. The firm has a 50 day moving average of $39.79 and a 200-day moving average of $34.86.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings data on Friday, February 27th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.38 billion. BrightSpring Health Services had a return on equity of 12.66% and a net margin of 1.48%.BrightSpring Health Services’s revenue was up 29.3% on a year-over-year basis. During the same quarter last year, the business earned $0.11 EPS. On average, equities research analysts predict that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current fiscal year.

About BrightSpring Health Services

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.