BrightSpring Health Services (NASDAQ:BTSG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of BrightSpring Health Services (NASDAQ:BTSG) from a buy rating to a strong-buy rating in a research note published on Saturday.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley increased their price objective on BrightSpring Health Services from $71.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Mizuho increased 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 note on Tuesday, May 5th. BTIG Research reissued a “buy” rating and issued a $90.00 price objective on shares of BrightSpring Health Services in a research report on Thursday, August 13th. Guggenheim assumed coverage on shares of BrightSpring Health Services in a research note on Monday, July 13th. They set a “buy” rating and a $81.00 price objective on the stock. Finally, Bank of America upped their target price on shares of BrightSpring Health Services from $66.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating and eighteen have issued a Buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $70.71.

BrightSpring Health Services Price Performance

NASDAQ:BTSG opened at $60.38 on Friday. BrightSpring Health Services has a 52-week low of $22.46 and a 52-week high of $73.75. The company has a market cap of $11.95 billion, a P/E ratio of 36.37, a P/E/G ratio of 0.75 and a beta of 1.88. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.22 and a current ratio of 1.59. The stock’s 50-day simple moving average is $66.66 and its 200 day simple moving average is $53.63.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.40 by $0.05. The firm had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.66 billion. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%.The business’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.22 earnings per share. As a group, sell-side analysts forecast that BrightSpring Health Services will post 1.78 EPS for the current fiscal year.

Insider Activity

In related news, insider Lisa A. Nalley sold 35,000 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 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 trade represents a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jon B. Rousseau sold 130,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the transaction, the insider directly owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. This represents a 9.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Equitable Holdings Inc. bought a new position in shares of BrightSpring Health Services during the second quarter worth approximately $379,000. Formula Growth Ltd. bought a new stake in shares of BrightSpring Health Services in the second quarter valued at approximately $3,511,000. Coastal Bridge Advisors LLC acquired a new stake in BrightSpring Health Services during the second quarter worth approximately $224,000. Public Employees Retirement System of Ohio acquired a new stake in BrightSpring Health Services during the second quarter worth approximately $63,000. Finally, Capstone Investment Advisors LLC bought a new position in BrightSpring Health Services during the 2nd quarter worth $367,000.

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.