BrightSpring Health Services (NASDAQ:BTSG) Stock Rating Upgraded by Zacks Research

BrightSpring Health Services (NASDAQ:BTSG) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on BTSG. Bank of America lifted 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. Weiss Ratings reissued a “buy (b-)” rating on shares of BrightSpring Health Services in a research report on Friday, July 31st. TD Cowen lifted their price objective on BrightSpring Health Services from $65.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Wells Fargo & Company lifted their price objective on BrightSpring Health Services from $61.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Finally, KeyCorp reiterated an “overweight” rating on shares of BrightSpring Health Services in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating and eighteen have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $70.71.

BrightSpring Health Services Trading Up 0.4%

BTSG stock opened at $63.02 on Tuesday. BrightSpring Health Services has a 52 week low of $19.51 and a 52 week high of $73.75. The company has a market capitalization of $12.47 billion, a PE ratio of 37.96, a price-to-earnings-growth ratio of 0.77 and a beta of 1.88. The company’s 50-day simple moving average is $66.51 and its 200 day simple moving average is $52.44. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.22 and a current ratio of 1.59.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.05. The business had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.66 billion. BrightSpring Health Services had a net margin of 2.55% and a return on equity of 16.73%. The business’s revenue was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.22 EPS. As a group, sell-side analysts anticipate that BrightSpring Health Services will post 1.78 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services 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 transaction, the insider directly owned 1,194,503 shares of the company’s stock, valued at $70,177,051.25. This trade represents a 9.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Lisa A. Nalley sold 35,000 shares of the business’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 of the company’s stock, valued at approximately $7,751,945. This represents a 20.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On BrightSpring Health Services

Several hedge funds and other institutional investors have recently modified their holdings of BTSG. Vanguard Group Inc. lifted its position in shares of BrightSpring Health Services by 30.5% during the 4th 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 last quarter. Price T Rowe Associates Inc. MD boosted 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. grew its holdings in shares of BrightSpring Health Services by 13.4% during 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 during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in 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 during the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of BrightSpring Health Services by 12.1% during the second quarter. Alliancebernstein L.P. now owns 5,450,085 shares of the company’s stock worth $128,568,000 after buying an additional 588,642 shares during 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.