BrightSpring Health Services (NASDAQ:BTSG) Shares Down 4.9% – Here’s What Happened

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) fell 4.9% during trading on Tuesday . The stock traded as low as $58.61 and last traded at $58.4510. 410,014 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 3,013,340 shares. The stock had previously closed at $61.45.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BTSG shares. Raymond James Financial started coverage on shares of BrightSpring Health Services in a report on Thursday, July 9th. They set an “outperform” rating and a $80.00 price target for the company. TD Cowen increased their price objective on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. The Goldman Sachs Group initiated coverage on shares of BrightSpring Health Services in a research note on Monday, June 8th. They set a “buy” rating and a $71.00 target price for the company. Mizuho boosted their target price on shares of BrightSpring Health Services from $52.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Finally, Bank of America upped their price target on shares of BrightSpring Health Services from $66.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating and eighteen have issued a Buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $70.71.

BrightSpring Health Services Trading Down 5.1%

The business has a fifty day moving average of $66.55 and a 200-day moving average of $52.91. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.22 and a current ratio of 1.59. The company has a market capitalization of $11.54 billion, a P/E ratio of 35.15, a PEG ratio of 0.76 and a beta of 1.88.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.66 billion. BrightSpring Health Services had a net margin of 2.55% and a return on equity of 16.73%. BrightSpring Health Services’s quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.22 EPS. Analysts anticipate that BrightSpring Health Services, Inc. will post 1.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Lisa A. Nalley sold 35,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $2,056,250.00. Following the completion of the sale, the insider directly owned 131,948 shares of the company’s stock, valued at approximately $7,751,945. This represents a 20.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jon B. Rousseau sold 130,000 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $7,637,500.00. Following the transaction, the insider owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. This trade represents a 9.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.80% of the stock is owned by company insiders.

Institutional Trading of BrightSpring Health Services

Several institutional investors and hedge funds have recently made changes to their positions in BTSG. NBC Securities Inc. purchased a new position in BrightSpring Health Services during the fourth quarter worth about $29,000. Salomon & Ludwin LLC purchased a new position in shares of BrightSpring Health Services in the 4th quarter worth approximately $30,000. GHP Investment Advisors Inc. bought a new position in shares of BrightSpring Health Services in the first quarter valued at approximately $31,000. EverSource Wealth Advisors LLC purchased a new stake in shares of BrightSpring Health Services during the second quarter valued at approximately $43,000. Finally, Meeder Asset Management Inc. bought a new stake in BrightSpring Health Services during the first quarter worth $52,000.

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.