Wells Fargo & Company Issues Positive Forecast for BrightSpring Health Services (NASDAQ:BTSG) Stock Price

BrightSpring Health Services (NASDAQ:BTSG) had its price objective boosted by Wells Fargo & Company from $17.00 to $21.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities research analysts also recently issued reports about the company. KeyCorp initiated coverage on BrightSpring Health Services in a report on Friday, October 11th. They issued a “sector weight” rating for the company. Guggenheim boosted their target price on shares of BrightSpring Health Services from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Mizuho raised their price target on shares of BrightSpring Health Services from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. BTIG Research lifted their price target on shares of BrightSpring Health Services from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, UBS Group increased 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 report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $17.21.

BrightSpring Health Services Stock Up 1.7 %

Shares of NASDAQ BTSG opened at $19.05 on Wednesday. The company’s 50 day moving average price is $16.51 and its 200-day moving average price is $13.42. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.97 and a current ratio of 1.35. BrightSpring Health Services has a 52-week low of $7.85 and a 52-week high of $20.25. The company has a market capitalization of $3.32 billion and a P/E ratio of -74.77.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings results on Friday, November 1st. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). BrightSpring Health Services had a negative net margin of 0.38% and a positive return on equity of 4.16%. The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.72 billion. The firm’s quarterly revenue was up 28.8% compared to the same quarter last year. Equities analysts forecast that BrightSpring Health Services will post 0.59 earnings per share for the current year.

Insider Buying and Selling at BrightSpring Health Services

In other news, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of BrightSpring Health Services stock in a transaction on Wednesday, September 11th. The stock was acquired at an average cost of $11.13 per share, with a total value of $129,330,577.74. Following the transaction, the insider now owns 92,959,984 shares of the company’s stock, valued at approximately $1,034,644,621.92. This trade represents a 14.29 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On BrightSpring Health Services

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. bought a new stake in BrightSpring Health Services during the first quarter worth $54,638,000. FMR LLC increased its position in shares of BrightSpring Health Services by 17.2% during the 3rd quarter. FMR LLC now owns 18,169,187 shares of the company’s stock valued at $266,724,000 after purchasing an additional 2,664,582 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of BrightSpring Health Services during the 1st quarter worth $16,260,000. Magnetar Financial LLC boosted its holdings in shares of BrightSpring Health Services by 46.9% in the 2nd quarter. Magnetar Financial LLC now owns 1,188,302 shares of the company’s stock worth $13,499,000 after buying an additional 379,149 shares during the last quarter. Finally, Lisanti Capital Growth LLC bought a new position in BrightSpring Health Services during the third quarter valued at about $4,659,000.

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.