BrightSpring Health Services (NASDAQ:BTSG) Stock Rating Upgraded by Raymond James Financial

BrightSpring Health Services (NASDAQ:BTSG) was upgraded by Raymond James Financial to a “moderate buy” rating in a research report issued on Thursday,Zacks.com reports.

BTSG has been the subject of a number of other research reports. Zacks Research lowered shares of BrightSpring Health Services from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Bank of America upped their price target on shares of BrightSpring Health Services from $66.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. The Goldman Sachs Group assumed coverage on shares of BrightSpring Health Services in a research note on Monday, June 8th. They set a “buy” rating and a $71.00 price target for the company. BTIG Research lifted their price target on shares of BrightSpring Health Services from $65.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Finally, Mizuho lifted their price target on shares of BrightSpring Health Services from $52.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $66.56.

BrightSpring Health Services Price Performance

Shares of BTSG opened at $71.43 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.74 and a debt-to-equity ratio of 1.24. The stock has a market cap of $14.09 billion, a PE ratio of 50.66, a PEG ratio of 0.97 and a beta of 1.79. BrightSpring Health Services has a 12-month low of $19.01 and a 12-month high of $72.06. The business has a 50-day simple moving average of $62.03 and a two-hundred day simple moving average of $48.54.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 14.63% and a net margin of 2.27%.The business’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same period last year, the firm posted $0.14 earnings per share. Analysts anticipate that BrightSpring Health Services will post 1.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In related 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 transaction, the insider directly owned 131,948 shares of the company’s stock, valued at $7,751,945. The trade was a 20.96% 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, insider Jon B. Rousseau sold 130,000 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 value of $7,637,500.00. Following the completion of the sale, the insider owned 1,194,503 shares in the company, valued at $70,177,051.25. The trade was a 9.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.80% of the stock is owned by insiders.

Institutional Investors Weigh In On BrightSpring Health Services

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of BrightSpring Health Services by 30.5% during the fourth quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company’s stock worth $469,385,000 after buying an additional 2,928,953 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in BrightSpring Health Services by 936.4% in the second quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company’s stock valued at $53,705,000 after buying an additional 2,056,920 shares during the period. State Street Corp lifted its holdings in BrightSpring Health Services by 99.5% in the fourth quarter. State Street Corp now owns 4,033,149 shares of the company’s stock valued at $151,041,000 after buying an additional 2,011,095 shares during the period. Jane Street Group LLC boosted its position in BrightSpring Health Services by 855.4% during the second quarter. Jane Street Group LLC now owns 2,076,730 shares of the company’s stock valued at $48,990,000 after acquiring an additional 1,859,369 shares during the last quarter. Finally, 8 Knots Management LLC bought a new stake in BrightSpring Health Services during the third quarter valued at $51,244,000.

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.