BrightSpring Health Services (NASDAQ:BTSG) Sets New 1-Year High – Should You Buy?

BrightSpring Health Services, Inc. (NASDAQ:BTSG) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $44.90 and last traded at $44.79, with a volume of 1098950 shares trading hands. The stock had previously closed at $43.31.

Wall Street Analyst Weigh In

Several brokerages have commented on BTSG. Zacks Research upgraded shares of BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. KeyCorp upgraded BrightSpring Health Services from a “sector weight” rating to an “overweight” rating and set a $45.00 target price on the stock in a report on Friday, December 12th. Wells Fargo & Company raised their target price on BrightSpring Health Services from $43.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. Morgan Stanley lifted their price target on BrightSpring Health Services from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. Finally, UBS Group increased their price objective on BrightSpring Health Services from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, BrightSpring Health Services has an average rating of “Buy” and a consensus target price of $45.50.

BrightSpring Health Services Price Performance

The firm has a 50-day moving average of $40.18 and a 200-day moving average of $35.52. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.12 and a current ratio of 1.57. The firm has a market capitalization of $8.81 billion, a P/E ratio of 51.72, a PEG ratio of 0.55 and a beta of 2.30.

BrightSpring Health Services (NASDAQ:BTSG) last posted its earnings results on Friday, February 27th. The company reported $0.33 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 business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the previous year, the business posted $0.11 EPS. The firm’s revenue for the quarter was up 29.3% on a year-over-year basis. As a group, analysts predict that BrightSpring Health Services, Inc. will post 0.59 EPS for the current year.

Insider Activity at BrightSpring Health Services

In other BrightSpring Health Services news, CFO Jennifer A. Phipps sold 35,000 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total transaction of $1,440,250.00. Following the transaction, the chief financial officer owned 196,840 shares in the company, valued at approximately $8,099,966. This represents a 15.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jon B. Rousseau sold 220,000 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total transaction of $9,053,000.00. Following the transaction, the insider owned 1,023,880 shares in the company, valued at $42,132,662. This represents a 17.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 285,000 shares of company stock valued at $11,727,750 over the last ninety days. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Lisanti Capital Growth LLC bought a new stake in BrightSpring Health Services in the 3rd quarter worth approximately $1,959,000. Federated Hermes Inc. raised its stake in BrightSpring Health Services by 44.8% during the 3rd quarter. Federated Hermes Inc. now owns 319,200 shares of the company’s stock valued at $9,436,000 after buying an additional 98,745 shares during the last quarter. Prescott Group Capital Management L.L.C. bought a new position in shares of BrightSpring Health Services during the 3rd quarter valued at $887,000. Ellsworth Advisors LLC purchased a new position in shares of BrightSpring Health Services in the 3rd quarter worth $983,000. Finally, Bailard Inc. purchased a new position in shares of BrightSpring Health Services in the 3rd quarter worth $378,000.

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.