BrightSpring Health Services (NASDAQ:BTSG) Price Target Raised to $48.00

BrightSpring Health Services (NASDAQ:BTSG) had its target price increased by investment analysts at Morgan Stanley from $40.00 to $48.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 15.33% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company raised their price target on BrightSpring Health Services from $43.00 to $50.00 and gave the company an “overweight” rating in a report on Monday. Weiss Ratings restated a “hold (c)” rating on shares of BrightSpring Health Services in a research report on Monday, December 29th. KeyCorp raised shares of BrightSpring Health Services from a “sector weight” rating to an “overweight” rating and set a $45.00 target price on the stock in a research note on Friday, December 12th. CJS Securities raised shares of BrightSpring Health Services to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, TD Cowen reaffirmed a “buy” rating on shares of BrightSpring Health Services in a research note on Monday. One research 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’s stock. Based on data from MarketBeat, BrightSpring Health Services has an average rating of “Moderate Buy” and an average price target of $44.08.

BrightSpring Health Services Price Performance

Shares of BTSG traded up $0.97 during mid-day trading on Wednesday, hitting $41.62. 2,853,559 shares of the company traded hands, compared to its average volume of 1,959,274. The company has a current ratio of 1.57, a quick ratio of 1.12 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $8.06 billion, a price-to-earnings ratio of 47.30, a PEG ratio of 0.65 and a beta of 2.31. The business has a 50-day moving average of $39.26 and a 200 day moving average of $33.67. BrightSpring Health Services has a one year low of $15.48 and a one year high of $44.87.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. NBC Securities Inc. bought a new stake in BrightSpring Health Services in the 4th quarter valued at $29,000. Salomon & Ludwin LLC bought a new stake in shares of BrightSpring Health Services in the fourth quarter valued at about $30,000. CWM LLC boosted its position in shares of BrightSpring Health Services by 105.3% during the third quarter. CWM LLC now owns 1,595 shares of the company’s stock worth $47,000 after buying an additional 818 shares during the period. Farther Finance Advisors LLC boosted its position in shares of BrightSpring Health Services by 112.8% during the fourth quarter. Farther Finance Advisors LLC now owns 1,717 shares of the company’s stock worth $64,000 after buying an additional 910 shares during the period. Finally, EverSource Wealth Advisors LLC bought a new position in shares of BrightSpring Health Services during the second quarter worth about $43,000.

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.