BrightSpring Health Services (NASDAQ:BTSG) Upgraded by Zacks Research to “Strong-Buy” Rating

BrightSpring Health Services (NASDAQ:BTSG) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other analysts have also weighed in on BTSG. Morgan Stanley lifted their price objective on BrightSpring Health Services from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday. Stephens initiated coverage on BrightSpring Health Services in a research report on Wednesday, December 10th. They issued an “overweight” rating and a $44.00 target price for the company. Weiss Ratings reissued a “hold (c)” rating on shares of BrightSpring Health Services in a report on Monday, December 29th. Mizuho increased their price objective on shares of BrightSpring Health Services from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $46.00 target price on shares of BrightSpring Health Services in a research report on Friday, January 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $44.08.

BrightSpring Health Services Price Performance

Shares of BrightSpring Health Services stock opened at $41.96 on Tuesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.57 and a quick ratio of 1.12. The company has a market cap of $8.12 billion, a PE ratio of 47.68, a price-to-earnings-growth ratio of 0.56 and a beta of 2.31. The firm has a fifty day moving average price of $39.34 and a two-hundred day moving average price of $33.72. BrightSpring Health Services has a fifty-two week low of $15.48 and a fifty-two week high of $44.87.

BrightSpring Health Services (NASDAQ:BTSG) last announced 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). BrightSpring Health Services had a net margin of 1.48% and a return on equity of 12.66%. The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period in the prior year, the company posted $0.11 EPS. The firm’s quarterly revenue was up 29.3% on a year-over-year basis. Analysts expect that BrightSpring Health Services will post 0.59 EPS for the current year.

Hedge Funds Weigh In On BrightSpring Health Services

A number of institutional investors have recently modified their holdings of BTSG. AQR Capital Management LLC acquired a new position in shares of BrightSpring Health Services during the first quarter worth approximately $276,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in BrightSpring Health Services by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,429 shares of the company’s stock worth $587,000 after buying an additional 1,780 shares in the last quarter. Millennium Management LLC boosted its position in BrightSpring Health Services by 0.3% in the 1st quarter. Millennium Management LLC now owns 577,885 shares of the company’s stock valued at $10,454,000 after buying an additional 1,967 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in BrightSpring Health Services by 11.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,280 shares of the company’s stock valued at $2,664,000 after buying an additional 14,586 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of BrightSpring Health Services by 38.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 20,226 shares of the company’s stock valued at $477,000 after buying an additional 5,663 shares during the period.

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.