Brokerages Set BrightSpring Health Services, Inc. (NASDAQ:BTSG) Price Target at $57.00

BrightSpring Health Services, Inc. (NASDAQ:BTSG) has been given a consensus recommendation of “Buy” by the seventeen research firms that are currently covering the company, MarketBeat.com reports. Fifteen analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $57.00.

BTSG has been the topic of a number of recent analyst reports. UBS Group lifted their price target on shares of BrightSpring Health Services from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, March 18th. BTIG Research lifted their price target on shares of BrightSpring Health Services from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, May 4th. TD Cowen lifted their price target on shares of BrightSpring Health Services from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Morgan Stanley lifted their price target on shares of BrightSpring Health Services from $48.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, Cantor Fitzgerald set a $49.00 price target on shares of BrightSpring Health Services in a research report on Monday, March 2nd.

Insider Activity

In other news, CFO Jennifer A. Phipps sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total transaction of $1,440,250.00. Following the completion of the transaction, the chief financial officer directly owned 196,840 shares in the company, valued at $8,099,966. The trade was a 15.10% decrease in their ownership of the stock. 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 220,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total value of $9,053,000.00. Following the transaction, the insider owned 1,023,880 shares of the company’s stock, valued at approximately $42,132,662. This trade represents a 17.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 285,000 shares of company stock valued at $11,727,750 over the last 90 days. 2.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BrightSpring Health Services

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Arete Wealth Advisors LLC bought a new position in BrightSpring Health Services during the first quarter worth $2,486,000. Bank of America Corp DE increased its position in BrightSpring Health Services by 48.7% during the first quarter. Bank of America Corp DE now owns 1,534,154 shares of the company’s stock worth $65,370,000 after acquiring an additional 502,786 shares during the period. Janus Henderson Group PLC increased its position in BrightSpring Health Services by 452.3% during the first quarter. Janus Henderson Group PLC now owns 228,941 shares of the company’s stock worth $9,756,000 after acquiring an additional 187,485 shares during the period. Smith Group Asset Management LLC increased its position in BrightSpring Health Services by 1.8% during the first quarter. Smith Group Asset Management LLC now owns 53,170 shares of the company’s stock worth $2,266,000 after acquiring an additional 927 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in BrightSpring Health Services by 23.3% during the first quarter. EverSource Wealth Advisors LLC now owns 4,718 shares of the company’s stock worth $201,000 after acquiring an additional 892 shares during the period.

BrightSpring Health Services Price Performance

Shares of BTSG opened at $61.68 on Monday. The firm has a market cap of $11.96 billion, a PE ratio of 43.74, a PEG ratio of 0.81 and a beta of 1.87. The firm’s 50 day moving average price is $49.66 and its 200 day moving average price is $42.14. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.38 and a current ratio of 1.74. BrightSpring Health Services has a twelve month low of $19.01 and a twelve month high of $62.11.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings data 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. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.39 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The company’s revenue for the quarter 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, research analysts expect that BrightSpring Health Services will post 1.64 EPS for the current fiscal year.

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.