Wells Fargo & Company Raises BrightSpring Health Services (NASDAQ:BTSG) Price Target to $50.00

BrightSpring Health Services (NASDAQ:BTSG) had its price objective boosted by analysts at Wells Fargo & Company from $43.00 to $50.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 22.45% from the stock’s previous close.

BTSG has been the subject of several other reports. TD Cowen reaffirmed a “buy” rating on shares of BrightSpring Health Services in a report on Tuesday, January 27th. Zacks Research cut shares of BrightSpring Health Services from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. BMO Capital Markets reiterated an “outperform” rating and issued a $46.00 price objective on shares of BrightSpring Health Services in a research report on Friday, January 23rd. Wall Street Zen lowered shares of BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 15th. Finally, Bank of America lifted their price target on BrightSpring Health Services from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, BrightSpring Health Services has an average rating of “Moderate Buy” and a consensus price target of $41.92.

BrightSpring Health Services Stock Performance

Shares of NASDAQ BTSG traded down $0.60 during trading on Monday, reaching $40.83. 418,856 shares of the company traded hands, compared to its average volume of 1,688,221. The stock has a market cap of $7.36 billion, a P/E ratio of 46.41, a PEG ratio of 0.60 and a beta of 2.30. The firm’s fifty day simple moving average is $39.13 and its 200 day simple moving average is $33.40. The company has a current ratio of 1.57, a quick ratio of 1.12 and a debt-to-equity ratio of 1.32. BrightSpring Health Services has a 12-month low of $15.48 and a 12-month high of $44.87.

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

Institutional Trading of BrightSpring Health Services

Several large investors have recently made changes to their positions in BTSG. Mcguire Capital Advisors Inc. purchased a new position in BrightSpring Health Services in the 4th quarter valued at $288,000. T. Rowe Price Investment Management Inc. raised its position in shares of BrightSpring Health Services by 21.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,123,865 shares of the company’s stock valued at $229,339,000 after buying an additional 1,091,757 shares during the last quarter. Invesco Ltd. lifted its stake in shares of BrightSpring Health Services by 13.4% in the fourth quarter. Invesco Ltd. now owns 10,595,232 shares of the company’s stock worth $396,791,000 after buying an additional 1,248,107 shares in the last quarter. Virtue Capital Management LLC boosted its position in BrightSpring Health Services by 45.9% during the fourth quarter. Virtue Capital Management LLC now owns 32,984 shares of the company’s stock worth $1,267,000 after acquiring an additional 10,371 shares during the last quarter. Finally, State of Tennessee Department of Treasury purchased a new stake in BrightSpring Health Services during the 4th quarter valued at about $1,915,000.

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.