BrightSpring Health Services (NASDAQ:BTSG) Trading 4.9% Higher Following Analyst Upgrade

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) rose 4.9% during trading on Wednesday after UBS Group raised their price target on the stock from $53.00 to $55.00. UBS Group currently has a buy rating on the stock. BrightSpring Health Services traded as high as $44.60 and last traded at $44.1530. Approximately 1,071,334 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 2,264,648 shares. The stock had previously closed at $42.10.

BTSG has been the topic of a number of other reports. BTIG Research reiterated a “buy” rating and set a $55.00 price objective on shares of BrightSpring Health Services in a research note on Monday, March 2nd. CJS Securities raised shares of BrightSpring Health Services to a “strong-buy” rating in a report on Thursday, December 11th. Mizuho increased their price target on shares of BrightSpring Health Services from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday. Stephens initiated coverage on shares of BrightSpring Health Services in a research note on Wednesday, December 10th. They issued an “overweight” rating and a $44.00 price objective on the stock. Finally, Wells Fargo & Company boosted their price objective on shares of BrightSpring Health Services from $43.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $45.23.

Insiders Place Their Bets

In other BrightSpring Health Services news, insider Lisa A. Nalley sold 30,000 shares of BrightSpring Health Services 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 $1,234,500.00. Following the completion of the sale, the insider directly owned 110,594 shares in the company, valued at approximately $4,550,943.10. The trade was a 21.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jon B. Rousseau sold 220,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total value of $9,053,000.00. Following the completion of the transaction, the insider directly owned 1,023,880 shares in the company, valued at approximately $42,132,662. This trade represents a 17.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 285,000 shares of company stock worth $11,727,750. 3.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BrightSpring Health Services

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in 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 buying an additional 2,928,953 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in BrightSpring Health Services by 4.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,662,236 shares of the company’s stock worth $399,302,000 after acquiring an additional 478,436 shares in the last quarter. Invesco Ltd. boosted its holdings in BrightSpring Health Services by 13.4% in the fourth quarter. Invesco Ltd. now owns 10,595,232 shares of the company’s stock worth $396,791,000 after acquiring an additional 1,248,107 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in BrightSpring Health Services by 21.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,123,865 shares of the company’s stock valued at $229,339,000 after acquiring an additional 1,091,757 shares during the period. Finally, Alliancebernstein L.P. grew its stake in BrightSpring Health Services by 12.1% in the second quarter. Alliancebernstein L.P. now owns 5,450,085 shares of the company’s stock valued at $128,568,000 after acquiring an additional 588,642 shares during the period.

BrightSpring Health Services Stock Performance

The company has a debt-to-equity ratio of 1.32, a current ratio of 1.57 and a quick ratio of 1.12. The company has a fifty day moving average price of $39.79 and a 200 day moving average price of $34.86. The stock has a market cap of $8.56 billion, a P/E ratio of 50.17, a P/E/G ratio of 0.51 and a beta of 2.31.

BrightSpring Health Services (NASDAQ:BTSG) last issued its earnings results on Friday, February 27th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). BrightSpring Health Services had a return on equity of 12.66% and a net margin of 1.48%.The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the business earned $0.11 earnings per share. BrightSpring Health Services’s revenue for the quarter was up 29.3% on a year-over-year basis. On average, equities analysts expect that BrightSpring Health Services, Inc. will post 0.59 EPS for the current 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.