BrightSpring Health Services (NASDAQ:BTSG) Earns “Buy” Rating from BTIG Research

BrightSpring Health Services (NASDAQ:BTSG)‘s stock had its “buy” rating reissued by investment analysts at BTIG Research in a research note issued to investors on Thursday,Benzinga reports. They presently have a $90.00 price objective on the stock. BTIG Research’s price target suggests a potential upside of 50.80% from the stock’s previous close.

Several other brokerages have also issued reports on BTSG. Bank of America lifted their price target on BrightSpring Health Services from $66.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of BrightSpring Health Services in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $70.00 price objective on shares of BrightSpring Health Services in a research note on Monday, August 3rd. The Goldman Sachs Group began coverage on BrightSpring Health Services in a research note on Monday, June 8th. They issued a “buy” rating and a $71.00 price target on the stock. Finally, Wall Street Zen lowered shares of BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. Two research analysts have rated the stock with a Strong Buy rating and eighteen have given a Buy rating to the company’s stock. According to data from MarketBeat.com, BrightSpring Health Services has a consensus rating of “Buy” and an average target price of $70.71.

BrightSpring Health Services Stock Up 3.1%

Shares of NASDAQ BTSG opened at $59.68 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.59 and a debt-to-equity ratio of 1.06. The company has a market cap of $11.81 billion, a P/E ratio of 35.95, a P/E/G ratio of 0.71 and a beta of 1.88. BrightSpring Health Services has a 52 week low of $21.58 and a 52 week high of $73.75. The business has a 50-day simple moving average of $66.50 and a two-hundred day simple moving average of $53.19.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC bought a new position in BrightSpring Health Services in the first quarter worth $276,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of 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 valued at $587,000 after buying an additional 1,780 shares in the last quarter. Millennium Management LLC grew its position in shares of BrightSpring Health Services by 0.3% in the 1st quarter. Millennium Management LLC now owns 577,885 shares of the company’s stock worth $10,454,000 after buying an additional 1,967 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of 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 worth $2,664,000 after buying an additional 14,586 shares during the period. Finally, Prudential Financial Inc. bought a new position in shares of BrightSpring Health Services in the 2nd quarter worth about $351,000.

About BrightSpring Health Services

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.