BrightSpring Health Services (NASDAQ:BTSG) Rating Lowered to “Hold” at Zacks Research

BrightSpring Health Services (NASDAQ:BTSG) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other analysts also recently weighed in on the company. BMO Capital Markets set a $70.00 price objective on BrightSpring Health Services in a research report on Thursday, May 21st. Mizuho lifted their target price on shares of BrightSpring Health Services from $52.00 to $61.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Wall Street Zen lowered shares of BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a report on Saturday. BTIG Research increased their price target on shares of BrightSpring Health Services from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Finally, Leerink Partners reissued an “outperform” rating and set a $49.00 price target on shares of BrightSpring Health Services in a research report on Wednesday, March 18th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, BrightSpring Health Services currently has an average rating of “Buy” and a consensus target price of $63.67.

BrightSpring Health Services Stock Down 0.6%

BTSG opened at $70.17 on Monday. BrightSpring Health Services has a 12 month low of $19.01 and a 12 month high of $72.06. The company has a current ratio of 1.74, a quick ratio of 1.38 and a debt-to-equity ratio of 1.24. The business’s 50-day moving average price is $60.64 and its 200-day moving average price is $47.90. The company has a market cap of $13.84 billion, a P/E ratio of 49.77, a P/E/G ratio of 0.97 and a beta of 1.79.

BrightSpring Health Services (NASDAQ:BTSG) last issued its earnings results on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.10. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the prior year, the business posted $0.14 EPS. BrightSpring Health Services’s quarterly revenue was up 25.6% compared to the same quarter last year. On average, equities analysts expect that BrightSpring Health Services will post 1.64 EPS for the current 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 stock was sold at an average price of $58.75, for a total value of $2,056,250.00. Following the sale, the insider directly owned 131,948 shares in the company, valued at approximately $7,751,945. This trade represents a 20.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the insider directly 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 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 BTSG. NBC Securities Inc. bought a new stake in shares of BrightSpring Health Services during the 4th quarter valued at about $29,000. Salomon & Ludwin LLC bought a new position in BrightSpring Health Services in the fourth quarter worth about $30,000. GHP Investment Advisors Inc. purchased a new stake in BrightSpring Health Services in the first quarter worth about $31,000. EverSource Wealth Advisors LLC purchased a new stake in BrightSpring Health Services in the second quarter worth about $43,000. Finally, Meeder Asset Management Inc. bought a new stake in BrightSpring Health Services during the 1st quarter valued at approximately $52,000.

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.