BrightSpring Health Services (NASDAQ:BTSG) Reaches New 12-Month High – Still a Buy?

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) hit a new 52-week high on Friday . The company traded as high as $54.77 and last traded at $54.1010, with a volume of 655008 shares traded. The stock had previously closed at $52.94.

Wall Street Analysts Forecast Growth

BTSG has been the topic of several research reports. Cantor Fitzgerald set a $49.00 price target on BrightSpring Health Services in a report on Monday, March 2nd. BTIG Research upped their price target on shares of BrightSpring Health Services from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Monday. Wells Fargo & Company raised their price target on shares of BrightSpring Health Services from $50.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday. Morgan Stanley boosted their price objective on shares of BrightSpring Health Services from $48.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Mizuho increased their price objective on BrightSpring Health Services from $52.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $56.29.

BrightSpring Health Services Trading Up 3.3%

The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.38 and a current ratio of 1.74. The firm’s fifty day simple moving average is $44.21 and its 200-day simple moving average is $39.32. The stock has a market cap of $10.61 billion, a P/E ratio of 38.80, a price-to-earnings-growth ratio of 0.74 and a beta of 1.71.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.10. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the prior year, the company posted $0.14 earnings per share. BrightSpring Health Services’s revenue for the quarter was up 25.6% compared to the same quarter last year. Equities research analysts expect that BrightSpring Health Services, Inc. will post 1.61 EPS for the current fiscal year.

Insider Transactions at BrightSpring Health Services

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 220,000 shares of BrightSpring Health Services stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total value of $9,053,000.00. Following the completion of the sale, the insider directly owned 1,023,880 shares in the company, valued at approximately $42,132,662. The trade was a 17.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lisa A. Nalley sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total value of $1,234,500.00. Following the completion of the transaction, the insider directly owned 110,594 shares in the company, valued at approximately $4,550,943.10. This trade represents a 21.34% 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. Corporate insiders own 2.80% of the company’s stock.

Institutional Trading of BrightSpring Health Services

Hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its holdings in BrightSpring Health Services by 18.9% in the first quarter. PNC Financial Services Group Inc. now owns 13,612 shares of the company’s stock worth $580,000 after purchasing an additional 2,162 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of BrightSpring Health Services during the first quarter valued at about $52,000. SEB Asset Management AB bought a new position in shares of BrightSpring Health Services during the 1st quarter worth about $14,550,000. Swiss National Bank grew its stake in shares of BrightSpring Health Services by 47.9% in the 1st quarter. Swiss National Bank now owns 284,100 shares of the company’s stock valued at $12,106,000 after buying an additional 92,000 shares during the period. Finally, Hanseatic Management Services Inc. bought a new stake in BrightSpring Health Services in the 1st quarter valued at about $331,000.

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.