BrightSpring Health Services (NASDAQ:BTSG) Shares Gap Up – Time to Buy?

BrightSpring Health Services, Inc. (NASDAQ:BTSG) gapped up prior to trading on Tuesday . The stock had previously closed at $39.05, but opened at $40.66. BrightSpring Health Services shares last traded at $41.0460, with a volume of 667,182 shares.

Analyst Ratings Changes

BTSG has been the topic of several recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of BrightSpring Health Services in a report on Monday, December 29th. BTIG Research reissued a “buy” rating and set a $55.00 target price on shares of BrightSpring Health Services in a research report on Monday, March 2nd. Cantor Fitzgerald set a $49.00 price target on shares of BrightSpring Health Services in a research note on Monday, March 2nd. Wells Fargo & Company raised their price target on shares of BrightSpring Health Services from $43.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Finally, Mizuho lifted their price objective on shares of BrightSpring Health Services from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $44.08.

BrightSpring Health Services Price Performance

The stock has a fifty day moving average of $39.76 and a 200 day moving average of $34.73. The stock has a market cap of $7.89 billion, a price-to-earnings ratio of 46.41, a P/E/G ratio of 0.50 and a beta of 2.30. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.57 and a quick ratio of 1.12.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings results on Friday, February 27th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). BrightSpring Health Services had a return on equity of 12.66% and a net margin of 1.48%.The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same period in the prior year, the business posted $0.11 earnings per share. The business’s quarterly revenue was up 29.3% compared to the same quarter last year. On average, analysts expect that BrightSpring Health Services, Inc. will post 0.59 EPS for the current fiscal year.

Insider Activity at BrightSpring Health Services

In related news, insider Lisa A. Nalley sold 30,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total transaction of $1,234,500.00. Following the completion of the transaction, the insider directly owned 110,594 shares in the company, valued at $4,550,943.10. The trade was a 21.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jon B. Rousseau sold 220,000 shares of BrightSpring Health Services stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total value of $9,053,000.00. Following the transaction, the insider owned 1,023,880 shares of the company’s stock, valued at $42,132,662. The trade was a 17.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 285,000 shares of company stock worth $11,727,750 over the last three months. Company insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Lisanti Capital Growth LLC acquired a new position in shares of BrightSpring Health Services in the 3rd quarter valued at $1,959,000. Federated Hermes Inc. grew its position in BrightSpring Health Services by 44.8% during the third quarter. Federated Hermes Inc. now owns 319,200 shares of the company’s stock valued at $9,436,000 after buying an additional 98,745 shares during the period. Prescott Group Capital Management L.L.C. acquired a new stake in BrightSpring Health Services during the third quarter valued at $887,000. Ellsworth Advisors LLC purchased a new position in BrightSpring Health Services in the third quarter valued at $983,000. Finally, Bailard Inc. acquired a new position in shares of BrightSpring Health Services in the third quarter worth about $378,000.

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.