BrightSpring Health Services (NASDAQ:BTSG) Sets New 12-Month High – Here’s Why

BrightSpring Health Services, Inc. (NASDAQ:BTSG)’s stock price reached a new 52-week high on Thursday . The company traded as high as $70.73 and last traded at $70.1550, with a volume of 2301 shares trading hands. The stock had previously closed at $69.85.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, May 4th. TD Cowen upped their price target on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Wells Fargo & Company increased their price target on shares of BrightSpring Health Services from $50.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Mizuho raised their price target on shares of BrightSpring Health Services from $52.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Finally, UBS Group boosted their price objective on shares of BrightSpring Health Services from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, March 18th. Two analysts have rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the stock. Based on data from MarketBeat.com, BrightSpring Health Services currently has a consensus rating of “Buy” and an average target price of $61.27.

BrightSpring Health Services Stock Down 1.5%

The company has a market capitalization of $13.58 billion, a P/E ratio of 48.81, a price-to-earnings-growth ratio of 0.90 and a beta of 1.79. The company has a 50-day moving average of $58.84 and a two-hundred day moving average of $46.96. The company has a quick ratio of 1.38, a current ratio of 1.74 and a debt-to-equity ratio of 1.24.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.14 earnings per share. On average, research analysts predict that BrightSpring Health Services, Inc. will post 1.67 EPS for the current year.

Insider Transactions at BrightSpring Health Services

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 shares were sold at an average price of $58.75, for a total value of $2,056,250.00. Following the sale, the insider owned 131,948 shares in the company, valued at approximately $7,751,945. This represents a 20.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction that occurred on 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 transaction, the insider owned 1,194,503 shares of the company’s stock, valued at $70,177,051.25. The trade was a 9.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.80% of the stock is owned by corporate insiders.

Institutional Trading of BrightSpring Health Services

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC increased its position in BrightSpring Health Services by 17.5% during the 4th quarter. CWM LLC now owns 1,874 shares of the company’s stock valued at $70,000 after buying an additional 279 shares in the last quarter. State of Wyoming boosted its holdings in BrightSpring Health Services by 4.5% in the first quarter. State of Wyoming now owns 7,776 shares of the company’s stock worth $331,000 after acquiring an additional 336 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in BrightSpring Health Services by 17.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,826 shares of the company’s stock worth $143,000 after acquiring an additional 565 shares in the last quarter. Moran Wealth Management LLC grew its stake in shares of BrightSpring Health Services by 9.0% in the first quarter. Moran Wealth Management LLC now owns 6,925 shares of the company’s stock worth $295,000 after acquiring an additional 572 shares during the last quarter. Finally, GHP Investment Advisors Inc. purchased a new stake in shares of BrightSpring Health Services in the first quarter worth $31,000.

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.