BrightSpring Health Services (NASDAQ:BTSG) Price Target Raised to $16.00

BrightSpring Health Services (NASDAQ:BTSG) had its price objective lifted by Wells Fargo & Company from $15.00 to $16.00 in a research note released on Monday, Benzinga reports. The firm currently has an overweight rating on the stock.

BTSG has been the subject of several other research reports. Leerink Partnrs reissued an outperform rating on shares of BrightSpring Health Services in a report on Tuesday, February 20th. SVB Leerink began coverage on BrightSpring Health Services in a research report on Tuesday, February 20th. They set an outperform rating and a $15.00 price target on the stock. Morgan Stanley assumed coverage on BrightSpring Health Services in a report on Tuesday, February 20th. They set an overweight rating and a $18.00 price objective on the stock. HSBC started coverage on BrightSpring Health Services in a research note on Wednesday, March 6th. They set a buy rating and a $13.00 target price for the company. Finally, The Goldman Sachs Group cut their price target on shares of BrightSpring Health Services from $26.00 to $23.00 and set a buy rating on the stock in a research note on Monday, March 4th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of Buy and a consensus price target of $15.85.

BrightSpring Health Services Price Performance

BTSG stock opened at $11.51 on Monday. The company has a fifty day moving average of $10.12. The company has a debt-to-equity ratio of 5.73, a quick ratio of 0.84 and a current ratio of 1.17. BrightSpring Health Services has a twelve month low of $7.85 and a twelve month high of $12.14.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. The firm had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.31 billion. The business’s revenue was up 27.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.10) earnings per share. On average, equities research analysts forecast that BrightSpring Health Services will post 0.67 EPS for the current year.

Insider Activity

In other BrightSpring Health Services news, CAO Jennifer A. Phipps bought 12,300 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $8.14 per share, with a total value of $100,122.00. Following the completion of the transaction, the chief accounting officer now owns 165,618 shares in the company, valued at $1,348,130.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Jennifer A. Phipps bought 12,300 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $8.14 per share, for a total transaction of $100,122.00. Following the completion of the acquisition, the chief accounting officer now owns 165,618 shares of the company’s stock, valued at approximately $1,348,130.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider James F. Mattingly, Jr. purchased 12,280 shares of BrightSpring Health Services stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average cost of $8.18 per share, with a total value of $100,450.40. Following the completion of the transaction, the insider now directly owns 128,700 shares of the company’s stock, valued at approximately $1,052,766. The disclosure for this purchase can be found here.

Hedge Funds Weigh In On BrightSpring Health Services

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Capstone Investment Advisors LLC bought a new stake in BrightSpring Health Services during the first quarter worth $9,722,000. Seven Grand Managers LLC acquired a new position in shares of BrightSpring Health Services during the 1st quarter worth about $1,630,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of BrightSpring Health Services in the 1st quarter valued at about $280,000.

BrightSpring Health Services Company Profile

BrightSpring Health Services, Inc operates a home and community-based healthcare services platform in the United States. The company's platform focuses on delivering pharmacy and provider services, including clinical and supportive care in home and community settings to Medicare, Medicaid, and insured populations.