BrightSpring Health Services (NASDAQ:BTSG) Reaches New 1-Year High – Time to Buy?

BrightSpring Health Services, Inc. (NASDAQ:BTSG)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $41.40 and last traded at $41.0760, with a volume of 1352614 shares changing hands. The stock had previously closed at $38.46.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BTSG shares. William Blair started coverage on BrightSpring Health Services in a research report on Monday, December 8th. They set an “outperform” rating on the stock. CJS Securities raised shares of BrightSpring Health Services to a “strong-buy” rating in a research note on Thursday, December 11th. Stephens began coverage on shares of BrightSpring Health Services in a report on Wednesday, December 10th. They issued an “overweight” rating and a $44.00 target price for the company. Zacks Research lowered shares of BrightSpring Health Services from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, BTIG Research upped their price target on shares of BrightSpring Health Services from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, BrightSpring Health Services currently has an average rating of “Moderate Buy” and an average target price of $41.33.

BrightSpring Health Services Trading Up 7.0%

The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.38 and a current ratio of 1.79. The stock has a market cap of $7.42 billion, a price-to-earnings ratio of 67.46, a price-to-earnings-growth ratio of 0.52 and a beta of 2.36. The company’s 50 day simple moving average is $38.41 and its two-hundred day simple moving average is $32.28.

Institutional Trading of BrightSpring Health Services

Institutional investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp acquired a new position in BrightSpring Health Services during the fourth quarter valued at approximately $252,000. Fuller & Thaler Asset Management Inc. grew its position in BrightSpring Health Services by 11.5% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,064,258 shares of the company’s stock worth $114,756,000 after purchasing an additional 316,061 shares during the last quarter. VARCOV Co. bought a new position in shares of BrightSpring Health Services during the 4th quarter worth about $538,000. Numerai GP LLC lifted its position in shares of BrightSpring Health Services by 26.9% in the 4th quarter. Numerai GP LLC now owns 9,731 shares of the company’s stock worth $364,000 after acquiring an additional 2,060 shares during the period. Finally, Orbimed Advisors LLC raised its holdings in shares of BrightSpring Health Services by 18.1% in the 4th quarter. Orbimed Advisors LLC now owns 488,500 shares of the company’s stock worth $18,294,000 after buying an additional 74,700 shares in the last quarter.

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.