Wells Fargo & Company Increases BrightSpring Health Services (NASDAQ:BTSG) Price Target to $16.00

BrightSpring Health Services (NASDAQ:BTSG) had its price target boosted by Wells Fargo & Company from $15.00 to $16.00 in a report published on Monday, Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts also recently commented on the company. HSBC started coverage on BrightSpring Health Services in a report on Wednesday, March 6th. They issued a buy rating and a $13.00 target price on the stock. Leerink Partnrs reaffirmed an outperform rating on shares of BrightSpring Health Services in a research report on Tuesday, February 20th. Bank of America started coverage on BrightSpring Health Services in a research report on Tuesday, February 20th. They set a buy rating and a $14.00 price objective on the stock. The Goldman Sachs Group dropped their price objective on BrightSpring Health Services from $26.00 to $23.00 and set a buy rating on the stock in a research report on Monday, March 4th. Finally, Guggenheim started coverage on BrightSpring Health Services in a research report on Tuesday, February 20th. They set a buy rating and a $15.00 price objective on the stock. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of Buy and an average price target of $15.85.

BrightSpring Health Services Price Performance

BrightSpring Health Services stock opened at $11.37 on Monday. The company has a debt-to-equity ratio of 5.73, a quick ratio of 0.84 and a current ratio of 1.17. The business has a fifty day moving average of $10.06. BrightSpring Health Services has a 12 month low of $7.85 and a 12 month high of $12.14.

BrightSpring Health Services (NASDAQ:BTSG) last released its earnings results on Thursday, May 2nd. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.06 by $0.06. The company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period last year, the firm posted ($0.10) earnings per share. The company’s revenue was up 27.0% compared to the same quarter last year. Sell-side analysts predict that BrightSpring Health Services will post 0.67 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets bought a new stake in BrightSpring Health Services during the 1st quarter valued at approximately $280,000. Capstone Investment Advisors LLC bought a new stake in BrightSpring Health Services during the 1st quarter valued at approximately $9,722,000. Finally, Seven Grand Managers LLC bought a new stake in BrightSpring Health Services during the 1st quarter valued at approximately $1,630,000.

About BrightSpring Health Services

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.