BrightSpring Health Services (NASDAQ:BTSG) Given New $84.00 Price Target at TD Cowen

BrightSpring Health Services (NASDAQ:BTSG) had its price objective boosted by equities researchers at TD Cowen from $81.00 to $84.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen‘s price target indicates a potential upside of 29.18% from the company’s previous close.

A number of other brokerages have also recently issued reports on BTSG. Morgan Stanley increased their target price on BrightSpring Health Services from $71.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $70.00 price objective on shares of BrightSpring Health Services in a research note on Monday, August 3rd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $90.00 price target on shares of BrightSpring Health Services in a research report on Monday. BTIG Research restated a “buy” rating and issued a $90.00 target price on shares of BrightSpring Health Services in a report on Thursday, August 13th. Finally, Weiss Ratings cut BrightSpring Health Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $74.94.

BrightSpring Health Services Trading Down 2.8%

Shares of NASDAQ:BTSG traded down $1.86 during mid-day trading on Monday, reaching $65.03. 1,173,311 shares of the company’s stock were exchanged, compared to its average volume of 2,847,335. The firm has a market capitalization of $12.87 billion, a price-to-earnings ratio of 35.18, a PEG ratio of 0.87 and a beta of 1.77. BrightSpring Health Services has a twelve month low of $30.64 and a twelve month high of $73.75. The business’s fifty day moving average price is $59.94 and its 200-day moving average price is $54.54. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.22 and a current ratio of 1.62.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings data on Friday, October 30th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.07. The company had revenue of $4.21 billion during the quarter, compared to analyst estimates of $3.88 billion. BrightSpring Health Services had a net margin of 2.69% and a return on equity of 18.56%. The company’s quarterly revenue was up 26.4% compared to the same quarter last year. On average, research analysts predict that BrightSpring Health Services will post 1.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BTSG. TD Waterhouse Canada Inc. purchased a new stake in BrightSpring Health Services in the second quarter worth $22,054,000. Bank of America Corp DE boosted its holdings in shares of BrightSpring Health Services by 48.7% in the first quarter. Bank of America Corp DE now owns 1,534,154 shares of the company’s stock worth $65,370,000 after buying an additional 502,786 shares during the last quarter. Ausbil Investment Management Ltd purchased a new position in shares of BrightSpring Health Services during the 2nd quarter worth $2,005,000. Bellars Harris Wealth Management LLC purchased a new position in shares of BrightSpring Health Services during the 2nd quarter worth $4,394,000. Finally, Tidal Investments LLC raised its holdings in BrightSpring Health Services by 186.2% in the 2nd quarter. Tidal Investments LLC now owns 68,900 shares of the company’s stock worth $4,805,000 after purchasing an additional 44,828 shares during the period.

About BrightSpring Health Services

BrightSpring Health Services (NASDAQ:BTSG) is a Louisville, Kentucky-based provider of home- and community-based health services and pharmacy services. The company focuses on supporting individuals with complex or chronic care needs, including older adults and people with disabilities, through care delivered in homes, communities and other non-hospital settings.

Its services include home health, hospice, personal care, behavioral health, primary care, rehabilitation and community living programs.