BrightSpring Health Services (NASDAQ:BTSG) Sets New 52-Week High – Still a Buy?

BrightSpring Health Services, Inc. (NASDAQ:BTSG)’s stock price reached a new 52-week high on Monday . The stock traded as high as $73.82 and last traded at $73.82, with a volume of 2574 shares trading hands. The stock had previously closed at $72.91.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Guggenheim assumed coverage on shares of BrightSpring Health Services in a report on Monday, July 13th. They issued a “buy” rating and a $81.00 price target on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $60.00 price objective on shares of BrightSpring Health Services in a research note on Monday, May 4th. Wells Fargo & Company lifted their price objective on BrightSpring Health Services from $61.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Stephens upped their target price on BrightSpring Health Services from $53.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Finally, KeyCorp increased their target price on BrightSpring Health Services from $60.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $70.12.

BrightSpring Health Services Stock Performance

The firm has a market cap of $14.30 billion, a PE ratio of 51.39, a P/E/G ratio of 0.91 and a beta of 1.79. The stock has a 50-day moving average price of $65.83 and a 200 day moving average price of $51.34. 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 (NASDAQ:BTSG) last released its earnings results on Friday, May 1st. The company reported $0.39 earnings per share 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 firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the prior year, the business posted $0.14 earnings per share. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. Research analysts forecast that BrightSpring Health Services, Inc. will post 1.7 earnings per share for the current year.

Insider Activity

In other news, insider Jon B. Rousseau sold 130,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider owned 1,194,503 shares of the company’s stock, valued at $70,177,051.25. This represents a 9.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Lisa A. Nalley sold 35,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $2,056,250.00. Following the transaction, the insider directly owned 131,948 shares of the company’s stock, valued at approximately $7,751,945. This represents a 20.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is owned by insiders.

Hedge Funds Weigh In On BrightSpring Health Services

Several institutional investors and hedge funds have recently bought and sold shares of BTSG. NBC Securities Inc. acquired a new position in shares of BrightSpring Health Services in the 4th quarter valued at $29,000. Salomon & Ludwin LLC acquired a new stake in shares of BrightSpring Health Services during the 4th quarter worth $30,000. GHP Investment Advisors Inc. acquired a new stake in shares of BrightSpring Health Services during the 1st quarter worth $31,000. EverSource Wealth Advisors LLC purchased a new position in shares of BrightSpring Health Services in the 2nd quarter worth $43,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of BrightSpring Health Services in the 1st quarter worth $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.