TD Cowen Begins Coverage on BrightSpring Health Services (NASDAQ:BTSG)

TD Cowen began coverage on shares of BrightSpring Health Services (NASDAQ:BTSG) in a research report sent to investors on Monday, Marketbeat.com reports. The brokerage issued a buy rating and a $37.00 price target on the stock.

BTSG has been the subject of several other research reports. Morgan Stanley raised their price target on BrightSpring Health Services from $20.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Mizuho set a $26.00 target price on BrightSpring Health Services in a research report on Monday, May 5th. Finally, Wells Fargo & Company upped their price objective on BrightSpring Health Services from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Tuesday, May 13th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, BrightSpring Health Services currently has an average rating of “Moderate Buy” and a consensus target price of $24.90.

BrightSpring Health Services Stock Down 1.2%

Shares of BTSG opened at $22.61 on Monday. The business’s 50 day moving average is $21.54 and its 200 day moving average is $19.82. The company has a market capitalization of $3.97 billion, a PE ratio of 80.75 and a beta of 2.58. BrightSpring Health Services has a 12-month low of $10.15 and a 12-month high of $25.57. The company has a current ratio of 1.73, a quick ratio of 1.37 and a debt-to-equity ratio of 1.48.

BrightSpring Health Services (NASDAQ:BTSG) last issued its earnings results on Friday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.10. The company had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.74 billion. BrightSpring Health Services had a return on equity of 7.76% and a net margin of 0.49%. The firm’s quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter last year, the company earned $0.12 EPS. Research analysts expect that BrightSpring Health Services will post 0.59 earnings per share for the current fiscal year.

Insider Activity

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 531,840 shares of the firm’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $21.75, for a total transaction of $11,567,520.00. Following the completion of the sale, the insider now owns 1,184,133 shares of the company’s stock, valued at $25,754,892.75. This trade represents a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Phoenix Aggregator L.P. Kkr sold 13,288,101 shares of the business’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $21.15, for a total value of $281,043,336.15. Following the transaction, the insider now directly owns 79,671,883 shares of the company’s stock, valued at $1,685,060,325.45. The trade was a 14.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

Institutional Trading of BrightSpring Health Services

Institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers increased its holdings in shares of BrightSpring Health Services by 1.5% in the fourth quarter. Rhumbline Advisers now owns 73,583 shares of the company’s stock valued at $1,253,000 after purchasing an additional 1,118 shares during the period. Bank of New York Mellon Corp increased its position in BrightSpring Health Services by 28.5% during the 4th quarter. Bank of New York Mellon Corp now owns 157,213 shares of the company’s stock worth $2,677,000 after purchasing an additional 34,907 shares during the period. Charles Schwab Investment Management Inc. increased its position in BrightSpring Health Services by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 450,993 shares of the company’s stock worth $7,680,000 after purchasing an additional 10,658 shares during the period. Raymond James Financial Inc. acquired a new position in BrightSpring Health Services during the 4th quarter worth approximately $18,257,000. Finally, Lisanti Capital Growth LLC grew its holdings in shares of BrightSpring Health Services by 4.6% in the 4th quarter. Lisanti Capital Growth LLC now owns 331,910 shares of the company’s stock worth $5,652,000 after acquiring an additional 14,565 shares during the period.

BrightSpring Health Services Company Profile

BrightSpring Health Services, Inc operates a home and community-based healthcare services platform in the United States. The company's platform focuses on delivering pharmacy and provider services, including clinical and supportive care in home and community settings to Medicare, Medicaid, and insured populations.