Analysts Set BrightSpring Health Services, Inc. (NASDAQ:BTSG) Price Target at $70.71

BrightSpring Health Services, Inc. (NASDAQ:BTSG) has been assigned a consensus recommendation of “Buy” from the twenty brokerages that are covering the company, MarketBeat reports. Eighteen investment analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $70.7059.

Several equities analysts recently issued reports on BTSG shares. BMO Capital Markets set a $70.00 target price on BrightSpring Health Services in a research report on Thursday, May 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of BrightSpring Health Services in a report on Friday, July 31st. BTIG Research restated a “buy” rating and issued a $90.00 price objective on shares of BrightSpring Health Services in a research note on Thursday, August 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $70.00 price objective on shares of BrightSpring Health Services in a research note on Monday, August 3rd. Finally, The Goldman Sachs Group initiated coverage on BrightSpring Health Services in a research report on Monday, June 8th. They issued a “buy” rating and a $71.00 target price on the stock.

Institutional Trading of BrightSpring Health Services

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE boosted its holdings in 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 valued at $65,370,000 after purchasing an additional 502,786 shares during the last quarter. New York State Teachers Retirement System acquired a new stake in BrightSpring Health Services during the 4th quarter worth about $1,311,000. Ausbil Investment Management Ltd purchased a new position in shares of BrightSpring Health Services during the 2nd quarter valued at about $2,005,000. Wealthstar Advisors LLC purchased a new position in shares of BrightSpring Health Services during the 1st quarter valued at about $1,525,000. Finally, Bellars Harris Wealth Management LLC acquired a new position in shares of BrightSpring Health Services in the 2nd quarter valued at about $4,394,000.

BrightSpring Health Services Trading Down 1.1%

Shares of BrightSpring Health Services stock opened at $60.73 on Wednesday. The company has a current ratio of 1.59, a quick ratio of 1.22 and a debt-to-equity ratio of 1.06. BrightSpring Health Services has a 12-month low of $23.69 and a 12-month high of $73.75. The firm has a market capitalization of $12.02 billion, a price-to-earnings ratio of 36.58, a PEG ratio of 0.72 and a beta of 1.84. The firm’s 50 day simple moving average is $65.10 and its two-hundred day simple moving average is $55.54.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly 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 business 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 earnings per share. The business’s quarterly revenue was up 23.0% on a year-over-year basis. Analysts predict that BrightSpring Health Services will post 1.82 EPS for the current year.

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.