BrightSpring Health Services (NASDAQ:BTSG) Sets New 1-Year High – Still a Buy?

BrightSpring Health Services, Inc. (NASDAQ:BTSG) reached a new 52-week high during trading on Wednesday . The company traded as high as $62.34 and last traded at $61.9170, with a volume of 244453 shares trading hands. The stock had previously closed at $61.00.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. KeyCorp upped their price objective on BrightSpring Health Services from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, May 4th. UBS Group raised their price objective on shares of BrightSpring Health Services from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, March 18th. BMO Capital Markets set a $70.00 price objective on shares of BrightSpring Health Services in a research note on Thursday, May 21st. 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. Finally, Weiss Ratings raised shares of BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $58.53.

BrightSpring Health Services Stock Performance

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 has a market capitalization of $12.07 billion, a PE ratio of 43.42, a P/E/G ratio of 0.76 and a beta of 1.87. The firm has a fifty day moving average price of $51.95 and a 200 day moving average price of $43.47.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings results on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.39 billion. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.BrightSpring Health Services’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter last year, the company posted $0.14 EPS. Research analysts anticipate 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 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 value of $2,056,250.00. Following the transaction, the insider directly owned 131,948 shares of the company’s stock, valued at $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jon B. Rousseau sold 130,000 shares of the company’s 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 completion of the sale, the insider owned 1,194,503 shares of the company’s stock, valued at approximately $70,177,051.25. This trade represents a 9.82% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On BrightSpring Health Services

A number of large investors have recently made changes to their positions in BTSG. Prescott Group Capital Management L.L.C. purchased a new stake in shares of BrightSpring Health Services during the third quarter worth $887,000. Vanguard Group Inc. increased its position in BrightSpring Health Services by 6.4% in the 3rd quarter. Vanguard Group Inc. now owns 9,604,703 shares of the company’s stock worth $283,915,000 after purchasing an additional 576,906 shares during the last quarter. 8 Knots Management LLC purchased a new stake in shares of BrightSpring Health Services during the 3rd quarter worth about $51,244,000. Victory Capital Management Inc. raised its stake in shares of BrightSpring Health Services by 551.3% during the 3rd quarter. Victory Capital Management Inc. now owns 726,878 shares of the company’s stock worth $21,487,000 after purchasing an additional 615,280 shares in the last quarter. Finally, Iron Triangle Partners LP lifted its holdings in shares of BrightSpring Health Services by 3.2% during the 3rd quarter. Iron Triangle Partners LP now owns 1,238,520 shares of the company’s stock valued at $36,611,000 after buying an additional 38,520 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.