BrightSpring Health Services (NASDAQ:BTSG) Sets New 1-Year High – What’s Next?

BrightSpring Health Services, Inc. (NASDAQ:BTSG) shares reached a new 52-week high during trading on Friday . The stock traded as high as $54.77 and last traded at $54.1010, with a volume of 655008 shares. The stock had previously closed at $52.94.

Analyst Ratings Changes

BTSG has been the subject of a number of recent analyst reports. Cantor Fitzgerald set a $49.00 price objective on BrightSpring Health Services in a research report on Monday, March 2nd. TD Cowen lifted their price target on BrightSpring Health Services from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. UBS Group lifted their price target on BrightSpring Health Services from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Leerink Partners reaffirmed an “outperform” rating and set a $49.00 price target on shares of BrightSpring Health Services in a research report on Wednesday, March 18th. Finally, Zacks Research raised BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 3rd. Two research analysts have rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the stock. According to data from MarketBeat.com, BrightSpring Health Services currently has an average rating of “Buy” and a consensus price target of $56.29.

BrightSpring Health Services Trading Up 3.6%

The firm has a market cap of $10.63 billion, a price-to-earnings ratio of 38.89, a PEG ratio of 0.75 and a beta of 1.71. The company has a fifty day moving average price of $44.21 and a 200-day moving average price of $39.32. The company has a current ratio of 1.74, a quick ratio of 1.38 and a debt-to-equity ratio of 1.24.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.10. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The company’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 EPS. As a group, research analysts expect that BrightSpring Health Services, Inc. will post 1.64 EPS for the current year.

Insider Activity

In other news, CFO Jennifer A. Phipps sold 35,000 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total value of $1,440,250.00. Following the completion of the transaction, the chief financial officer owned 196,840 shares of the company’s stock, valued at $8,099,966. The trade was a 15.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Lisa A. Nalley sold 30,000 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total value of $1,234,500.00. Following the completion of the transaction, the insider directly owned 110,594 shares of the company’s stock, valued at approximately $4,550,943.10. This trade represents a 21.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 285,000 shares of company stock valued at $11,727,750 in the last quarter. 2.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BrightSpring Health Services

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of BrightSpring Health Services by 30.5% in the 4th quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company’s stock valued at $469,385,000 after purchasing an additional 2,928,953 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of BrightSpring Health Services by 4.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,662,236 shares of the company’s stock valued at $399,302,000 after purchasing an additional 478,436 shares in the last quarter. Invesco Ltd. increased its stake in shares of BrightSpring Health Services by 13.4% in the 4th quarter. Invesco Ltd. now owns 10,595,232 shares of the company’s stock valued at $396,791,000 after purchasing an additional 1,248,107 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of BrightSpring Health Services by 21.7% in the 4th 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 shares of BrightSpring Health Services by 12.1% in the 2nd 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.

About BrightSpring Health Services

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.