BrightSpring Health Services (NASDAQ:BTSG) Sees Unusually-High Trading Volume – Time to Buy?

BrightSpring Health Services, Inc. (NASDAQ:BTSG) saw unusually-high trading volume on Thursday . Approximately 2,525,745 shares changed hands during trading, an increase of 3% from the previous session’s volume of 2,444,837 shares.The stock last traded at $58.82 and had previously closed at $60.88.

Wall Street Analyst Weigh In

BTSG has been the topic of several analyst reports. Wall Street Zen downgraded shares of BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 23rd. TD Cowen lifted their price target on shares of BrightSpring Health Services from $60.00 to $65.00 and gave the company a “buy” rating in a report on Monday, May 4th. Leerink Partners reaffirmed an “outperform” rating and set a $49.00 price target on shares of BrightSpring Health Services in a report on Wednesday, March 18th. Cantor Fitzgerald set a $49.00 price target on shares of BrightSpring Health Services in a report on Monday, March 2nd. Finally, BMO Capital Markets set a $70.00 price target on shares of BrightSpring Health Services in a report on Thursday, May 21st. Two analysts have rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $57.64.

BrightSpring Health Services Stock Performance

The stock has a market cap of $11.13 billion, a P/E ratio of 40.71, a PEG ratio of 0.74 and a beta of 1.87. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.74 and a quick ratio of 1.38. The firm’s 50-day moving average price is $51.25 and its 200-day moving average price is $42.99.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings data on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.10. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.39 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.14 earnings per share. Sell-side analysts expect that BrightSpring Health Services, Inc. will post 1.67 earnings per share for the current fiscal year.

Insider Activity at BrightSpring Health Services

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

Institutional Investors Weigh In On BrightSpring Health Services

Several institutional investors and hedge funds have recently modified their holdings of the stock. GHP Investment Advisors Inc. bought a new stake in BrightSpring Health Services in the first quarter worth $31,000. NBC Securities Inc. bought a new stake in BrightSpring Health Services in the fourth quarter worth $29,000. Salomon & Ludwin LLC bought a new stake in BrightSpring Health Services in the fourth quarter worth $30,000. Meeder Asset Management Inc. bought a new stake in BrightSpring Health Services in the first quarter worth $52,000. Finally, Farther Finance Advisors LLC increased its position in BrightSpring Health Services by 112.8% in the fourth quarter. Farther Finance Advisors LLC now owns 1,717 shares of the company’s stock worth $64,000 after purchasing an additional 910 shares during the last quarter.

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.