BrightSpring Health Services (NASDAQ:BTSG) Shares Up 4.3% – What’s Next?

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) were up 4.3% during mid-day trading on Wednesday . The stock traded as high as $59.30 and last traded at $59.6850. 367,309 shares traded hands during trading, a decline of 88% from the average daily volume of 2,973,729 shares. The stock had previously closed at $57.23.

Wall Street Analyst Weigh In

BTSG has been the subject of several analyst reports. Zacks Research upgraded BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Guggenheim assumed coverage on BrightSpring Health Services in a research note on Monday, July 13th. They issued a “buy” rating and a $81.00 price target on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $70.00 price target on shares of BrightSpring Health Services in a report on Monday, August 3rd. TD Cowen upped their price objective on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Finally, Raymond James Financial assumed coverage on shares of BrightSpring Health Services in a research report on Thursday, July 9th. They issued an “outperform” rating and a $80.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating and eighteen have given a Buy rating to the company. According to data from MarketBeat.com, BrightSpring Health Services has an average rating of “Buy” and a consensus price target of $70.71.

BrightSpring Health Services Stock Down 0.7%

The stock has a fifty day moving average of $66.05 and a two-hundred day moving average of $54.78. The company has a quick ratio of 1.22, a current ratio of 1.59 and a debt-to-equity ratio of 1.06. The stock has a market cap of $12.05 billion, a price-to-earnings ratio of 36.69, a PEG ratio of 0.74 and a beta of 1.88.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.40 by $0.05. The company had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.66 billion. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%.The firm’s revenue was up 23.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.22 earnings per share. As a group, analysts predict that BrightSpring Health Services, Inc. will post 1.82 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Lisa A. Nalley sold 35,000 shares of the firm’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 $2,056,250.00. Following the transaction, the insider owned 131,948 shares in the company, valued at approximately $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $7,637,500.00. Following the transaction, the insider directly owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. This trade represents a 9.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BrightSpring Health Services

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE boosted its position in shares of BrightSpring Health Services by 48.7% in the first quarter. Bank of America Corp DE now owns 1,534,154 shares of the company’s stock worth $65,370,000 after buying an additional 502,786 shares during the period. New York State Teachers Retirement System acquired a new position in BrightSpring Health Services during the 4th quarter worth approximately $1,311,000. Ausbil Investment Management Ltd purchased a new position in BrightSpring Health Services in the 2nd quarter worth approximately $2,005,000. Bellars Harris Wealth Management LLC acquired a new stake in BrightSpring Health Services in the second quarter valued at approximately $4,394,000. Finally, Wealthstar Advisors LLC purchased a new stake in shares of BrightSpring Health Services during the first quarter valued at approximately $1,525,000.

BrightSpring Health Services Company Profile

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.