Analysts Set BrightSpring Health Services, Inc. (NASDAQ:BTSG) Price Target at $68.41

BrightSpring Health Services, Inc. (NASDAQ:BTSG) has been given a consensus recommendation of “Buy” by the twenty ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $70.1176.

BTSG has been the topic of several research analyst reports. BTIG Research lifted their price target on BrightSpring Health Services from $65.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Bank of America raised their target price on shares of BrightSpring Health Services from $66.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Mizuho upped their price target on shares of BrightSpring Health Services from $52.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Wall Street Zen downgraded shares of BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 4th. Finally, The Goldman Sachs Group initiated coverage on shares of BrightSpring Health Services in a research note on Monday, June 8th. They issued a “buy” rating and a $71.00 price objective on the stock.

BrightSpring Health Services Price Performance

Shares of BTSG opened at $70.69 on Tuesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.74 and a quick ratio of 1.38. BrightSpring Health Services has a 1-year low of $19.01 and a 1-year high of $72.22. The stock has a market cap of $13.95 billion, a PE ratio of 50.14, a price-to-earnings-growth ratio of 0.89 and a beta of 1.79. The firm has a fifty day moving average price of $63.76 and a 200 day moving average price of $49.64.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.10. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter last year, the company posted $0.14 earnings per share. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that BrightSpring Health Services will post 1.7 EPS for the current year.

Insider Buying and Selling

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 130,000 shares of the business’s stock in a transaction 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 approximately $70,177,051.25. The trade was a 9.82% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lisa A. Nalley sold 35,000 shares of the firm’s stock in a transaction 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 owned 131,948 shares of the company’s stock, valued at $7,751,945. This trade represents a 20.96% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BrightSpring Health Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in BrightSpring Health Services by 30.5% in the fourth quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company’s stock valued at $469,385,000 after acquiring an additional 2,928,953 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of BrightSpring Health Services by 936.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company’s stock valued at $53,705,000 after purchasing an additional 2,056,920 shares in the last quarter. State Street Corp increased its holdings in shares of BrightSpring Health Services by 99.5% in the 4th quarter. State Street Corp now owns 4,033,149 shares of the company’s stock valued at $151,041,000 after purchasing an additional 2,011,095 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of BrightSpring Health Services by 855.4% in the second quarter. Jane Street Group LLC now owns 2,076,730 shares of the company’s stock valued at $48,990,000 after purchasing an additional 1,859,369 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of BrightSpring Health Services by 13.4% in the fourth 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 period.

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.