BrightSpring Health Services, Inc. (NASDAQ:BTSG) Receives $70.71 Consensus Price Target from Analysts

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) have been given an average rating of “Buy” by the twenty research firms that are currently covering the firm, Marketbeat Ratings reports. Eighteen equities research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $70.7059.

BTSG has been the topic of several recent research reports. 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 report on Thursday, July 2nd. TD Cowen increased their target price on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. UBS Group raised their target price on shares of BrightSpring Health Services from $63.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $70.00 target price on shares of BrightSpring Health Services in a research note on Monday, August 3rd. Finally, Wall Street Zen downgraded shares of BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th.

BrightSpring Health Services Price Performance

NASDAQ:BTSG opened at $61.45 on Friday. The company has a market cap of $12.16 billion, a P/E ratio of 37.02, a P/E/G ratio of 0.76 and a beta of 1.88. The firm’s fifty day moving average price is $66.55 and its two-hundred day moving average price is $52.91. BrightSpring Health Services has a one year low of $20.63 and a one year high of $73.75. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.59 and a quick ratio of 1.22.

BrightSpring Health Services (NASDAQ:BTSG) last posted its earnings results on Friday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. BrightSpring Health Services had a net margin of 2.55% and a return on equity of 16.73%. The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter last year, the company posted $0.22 EPS. BrightSpring Health Services’s quarterly revenue was up 23.0% compared to the same quarter last year. Equities analysts expect that BrightSpring Health Services will post 1.78 earnings per share for the current year.

Insiders Place Their Bets

In other BrightSpring Health Services news, insider Lisa A. Nalley sold 35,000 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $2,056,250.00. Following the completion of the transaction, the insider owned 131,948 shares of the company’s stock, valued at $7,751,945. This represents a 20.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jon B. Rousseau sold 130,000 shares of the 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 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. 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 acquiring an additional 2,928,953 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of BrightSpring Health Services by 936.4% during the second quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company’s stock worth $53,705,000 after purchasing an additional 2,056,920 shares during the period. State Street Corp lifted its holdings in shares of BrightSpring Health Services by 99.5% during the fourth quarter. State Street Corp now owns 4,033,149 shares of the company’s stock worth $151,041,000 after purchasing an additional 2,011,095 shares during the period. Jane Street Group LLC grew 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 worth $48,990,000 after purchasing an additional 1,859,369 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of BrightSpring Health Services in the second quarter worth $118,162,000.

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.