BrightSpring Health Services, Inc. $BTSG Shares Purchased by Tidal Investments LLC

Tidal Investments LLC raised its stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 186.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 68,900 shares of the company’s stock after acquiring an additional 44,828 shares during the period. Tidal Investments LLC’s holdings in BrightSpring Health Services were worth $4,805,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP acquired a new stake in BrightSpring Health Services during the second quarter worth approximately $28,000. GHP Investment Advisors Inc. acquired a new position in shares of BrightSpring Health Services in the 1st quarter valued at $31,000. IFP Advisors Inc grew its position in shares of BrightSpring Health Services by 204.5% in the 2nd quarter. IFP Advisors Inc now owns 606 shares of the company’s stock valued at $42,000 after buying an additional 407 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in shares of BrightSpring Health Services in the 2nd quarter valued at $43,000. Finally, Kilter Group LLC acquired a new stake in BrightSpring Health Services during the 2nd quarter worth $50,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BTSG shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $70.00 price target on shares of BrightSpring Health Services in a research report on Monday, August 3rd. KeyCorp reiterated an “overweight” rating on shares of BrightSpring Health Services in a research report on Monday, August 3rd. Zacks Research raised BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Bank of America upped their target price on BrightSpring Health Services from $66.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Finally, Wall Street Zen downgraded BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 23rd. Two equities research analysts have rated the stock with a Strong Buy rating and eighteen have assigned a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $70.71.

BrightSpring Health Services Stock Performance

NASDAQ:BTSG opened at $58.73 on Monday. BrightSpring Health Services, Inc. has a 12-month low of $25.93 and a 12-month high of $73.75. The company has a current ratio of 1.59, a quick ratio of 1.22 and a debt-to-equity ratio of 1.06. The stock’s 50 day simple moving average is $64.21 and its 200-day simple moving average is $56.36. The firm has a market cap of $11.62 billion, a P/E ratio of 35.38, a PEG ratio of 0.69 and a beta of 1.84.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.05. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%.The firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same period last year, the company earned $0.22 earnings per share. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. Equities analysts anticipate that BrightSpring Health Services, Inc. will post 1.82 EPS for the current year.

BrightSpring Health Services Profile

BrightSpring Health Services, Inc is a provider of home- and community-based health services and pharmacy services in the United States. The company supports individuals who require assistance with daily living, clinical care, rehabilitation, behavioral health services, or other long-term and post-acute care.

Its businesses include home health, hospice, personal care, residential and community living services, behavioral health programs, primary care, and rehabilitation. Through its PharMerica pharmacy business, BrightSpring provides institutional and specialty pharmacy services, including medication dispensing and related clinical support for long-term care facilities and other healthcare settings.

BrightSpring serves patients and clients across the United States through a network of local operations and care professionals.