BrightSpring Health Services (NASDAQ:BTSG) Shares Down 4.9% – Here’s What Happened

BrightSpring Health Services, Inc. (NASDAQ:BTSG) dropped 4.9% on Tuesday . The company traded as low as $58.61 and last traded at $58.4510. 410,014 shares changed hands during trading, a decline of 86% from the average daily volume of 3,013,340 shares. The stock had previously closed at $61.45.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BTSG. Zacks Research raised BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. TD Cowen boosted their target price on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $70.00 price target on shares of BrightSpring Health Services in a research report on Monday, August 3rd. The Goldman Sachs Group began coverage on shares of BrightSpring Health Services in a report on Monday, June 8th. They issued a “buy” rating and a $71.00 price target on the stock. Finally, Wells Fargo & Company lifted their price objective on shares of BrightSpring Health Services from $61.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating and eighteen have issued a Buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $70.71.

BrightSpring Health Services Price Performance

The stock has a 50-day moving average price of $66.50 and a two-hundred day moving average price of $53.19. The company has a current ratio of 1.59, a quick ratio of 1.22 and a debt-to-equity ratio of 1.06. The stock has a market cap of $11.81 billion, a price-to-earnings ratio of 35.95, a PEG ratio of 0.71 and a beta of 1.88.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings results on Friday, July 31st. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%.The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period last year, the business posted $0.22 earnings per share. The firm’s revenue was up 23.0% compared to the same quarter last year. As a group, equities research analysts forecast that BrightSpring Health Services, Inc. will post 1.78 EPS for the current year.

Insider Activity at BrightSpring Health Services

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

Institutional Investors Weigh In On BrightSpring Health Services

A number of large investors have recently bought and sold shares of the company. Allworth Financial LP purchased a new stake in shares of BrightSpring Health Services in the 2nd quarter valued at $28,000. NBC Securities Inc. acquired a new position in shares of BrightSpring Health Services in the 4th quarter valued at $29,000. Salomon & Ludwin LLC acquired a new position in shares of BrightSpring Health Services in the 4th quarter valued at $30,000. GHP Investment Advisors Inc. purchased a new stake in BrightSpring Health Services during the first quarter worth $31,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in BrightSpring Health Services during the second quarter valued at $43,000.

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.