BrightSpring Health Services (NASDAQ:BTSG) Sets New 12-Month High – Should You Buy?

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) hit a new 52-week high on Monday . The company traded as high as $67.76 and last traded at $66.7370, with a volume of 132550 shares. The stock had previously closed at $66.25.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Stephens upped their target price on shares of BrightSpring Health Services from $53.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Wall Street Zen raised BrightSpring Health Services from a “buy” rating to a “strong-buy” rating in a research report on Saturday. TD Cowen raised their target price on BrightSpring Health Services from $65.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday. Leerink Partners restated an “outperform” rating and issued a $49.00 price objective on shares of BrightSpring Health Services in a research report on Wednesday, March 18th. Finally, Weiss Ratings raised shares of BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the stock. Based on data from MarketBeat.com, BrightSpring Health Services has an average rating of “Buy” and an average price target of $61.27.

BrightSpring Health Services Price Performance

The stock has a market capitalization of $13.03 billion, a PE ratio of 46.84, a price-to-earnings-growth ratio of 0.85 and a beta of 1.87. The firm has a 50 day moving average price of $55.27 and a 200 day moving average price of $45.08. The company has a current ratio of 1.74, a quick ratio of 1.38 and a debt-to-equity ratio of 1.24.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same period last year, the firm posted $0.14 EPS. The company’s revenue was up 25.6% on a year-over-year basis. Research analysts anticipate that BrightSpring Health Services, Inc. will post 1.67 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jon B. Rousseau sold 130,000 shares of the firm’s stock in a transaction dated 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 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Lisa A. Nalley sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $58.75, for a total transaction of $2,056,250.00. Following the completion of the sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. NBC Securities Inc. purchased a new stake in shares of BrightSpring Health Services in the fourth quarter worth about $29,000. Salomon & Ludwin LLC purchased a new stake in shares of BrightSpring Health Services during the fourth quarter worth $30,000. GHP Investment Advisors Inc. purchased a new stake in BrightSpring Health Services during the 1st quarter valued at about $31,000. EverSource Wealth Advisors LLC acquired a new position in BrightSpring Health Services in the second quarter valued at approximately $43,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of BrightSpring Health Services in the 1st quarter valued at $52,000.

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.