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

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) hit a new 52-week high on Monday . The company traded as high as $67.76 and last traded at $66.7370, with a volume of 132550 shares traded. The stock had previously closed at $66.25.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BTSG. KeyCorp upped their target price on BrightSpring Health Services from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Weiss Ratings raised BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. The Goldman Sachs Group started coverage on BrightSpring Health Services in a report on Monday, June 8th. They set a “buy” rating and a $71.00 price target on the stock. Zacks Research raised BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. Finally, TD Cowen raised their price objective on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Two investment analysts have rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $61.27.

BrightSpring Health Services Stock Performance

The stock’s 50 day moving average price is $56.13 and its 200 day moving average price is $45.53. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.38 and a current ratio of 1.74. The company has a market capitalization of $13.19 billion, a P/E ratio of 47.40, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87.

BrightSpring Health Services (NASDAQ:BTSG) last announced its earnings results on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. BrightSpring Health Services’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.14 earnings per share. As a group, equities analysts expect that BrightSpring Health Services, Inc. will post 1.67 EPS for the current year.

Insider Activity

In other BrightSpring Health Services news, insider Lisa A. Nalley sold 35,000 shares of BrightSpring Health Services stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $2,056,250.00. Following the completion of the sale, the insider directly owned 131,948 shares in the company, valued at approximately $7,751,945. The trade was a 20.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jon B. Rousseau sold 130,000 shares of the business’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 value of $7,637,500.00. Following the completion of the transaction, the insider directly owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. This trade represents a 9.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.80% of the company’s stock.

Institutional Trading of BrightSpring Health Services

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of BrightSpring Health Services by 30.5% during the 4th quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company’s stock valued at $469,385,000 after acquiring an additional 2,928,953 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in BrightSpring Health Services by 4.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,662,236 shares of the company’s stock worth $399,302,000 after purchasing an additional 478,436 shares during the period. Invesco Ltd. grew its holdings in BrightSpring Health Services by 13.4% in the fourth quarter. Invesco Ltd. now owns 10,595,232 shares of the company’s stock worth $396,791,000 after purchasing an additional 1,248,107 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in BrightSpring Health Services by 21.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,123,865 shares of the company’s stock valued at $229,339,000 after purchasing an additional 1,091,757 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in BrightSpring Health Services by 12.1% in the second quarter. Alliancebernstein L.P. now owns 5,450,085 shares of the company’s stock valued at $128,568,000 after purchasing an additional 588,642 shares in 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.