BrightSpring Health Services (NASDAQ:BTSG) Reaches New 52-Week High – Time to Buy?

BrightSpring Health Services, Inc. (NASDAQ:BTSG) shares reached a new 52-week high during trading on Thursday . The company traded as high as $18.47 and last traded at $18.41, with a volume of 6833 shares traded. The stock had previously closed at $18.35.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BTSG shares. Mizuho raised their target price on BrightSpring Health Services from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday. UBS Group lifted their price objective on shares of BrightSpring Health Services from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Guggenheim boosted their target price on shares of BrightSpring Health Services from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. KeyCorp initiated coverage on shares of BrightSpring Health Services in a report on Friday, October 11th. They set a “sector weight” rating for the company. Finally, BTIG Research upped their price target on BrightSpring Health Services from $15.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.79.

BrightSpring Health Services Price Performance

The company has a market capitalization of $3.16 billion and a P/E ratio of -70.58. The company’s 50-day simple moving average is $14.87 and its 200 day simple moving average is $12.61. The company has a quick ratio of 1.00, a current ratio of 1.33 and a debt-to-equity ratio of 1.62.

BrightSpring Health Services (NASDAQ:BTSG) last posted its earnings results on Friday, November 1st. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.07). The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.72 billion. BrightSpring Health Services had a negative net margin of 0.38% and a positive return on equity of 4.47%. The business’s quarterly revenue was up 28.8% compared to the same quarter last year. As a group, sell-side analysts expect that BrightSpring Health Services, Inc. will post 0.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were bought at an average price of $11.13 per share, with a total value of $129,330,577.74. Following the completion of the transaction, the insider now directly owns 92,959,984 shares in the company, valued at $1,034,644,621.92. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BTSG. Kohlberg Kravis Roberts & Co. L.P. acquired a new stake in shares of BrightSpring Health Services in the first quarter worth $884,166,000. 8 Knots Management LLC acquired a new stake in BrightSpring Health Services in the 1st quarter worth $67,678,000. Vanguard Group Inc. acquired a new stake in BrightSpring Health Services in the 1st quarter worth $54,638,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of BrightSpring Health Services during the 1st quarter worth about $35,328,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of BrightSpring Health Services during the first quarter valued at about $16,260,000.

BrightSpring Health Services Company Profile

BrightSpring Health Services, Inc operates a home and community-based healthcare services platform in the United States. The company's platform focuses on delivering pharmacy and provider services, including clinical and supportive care in home and community settings to Medicare, Medicaid, and insured populations.