BrightSpring Health Services (NASDAQ:BTSG) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) saw unusually-high trading volume on Thursday . Approximately 2,525,745 shares traded hands during mid-day trading, an increase of 3% from the previous session’s volume of 2,444,837 shares.The stock last traded at $58.82 and had previously closed at $60.88.

Wall Street Analysts Forecast Growth

BTSG has been the topic of a number of analyst reports. BMO Capital Markets set a $70.00 price target on BrightSpring Health Services in a research report on Thursday, May 21st. Stephens upped their price target on BrightSpring Health Services from $53.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Wall Street Zen cut BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 23rd. Weiss Ratings upgraded BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. Finally, Mizuho increased their target price on BrightSpring Health Services from $52.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $57.64.

BrightSpring Health Services Price Performance

The stock’s 50-day moving average price is $50.72 and its 200-day moving average price is $42.71. The company has a market capitalization of $11.36 billion, a price-to-earnings ratio of 41.55, a price-to-earnings-growth ratio of 0.78 and a beta of 1.87. 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 announced its earnings results 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 company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.39 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. BrightSpring Health Services’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.14 earnings per share. Equities research analysts anticipate that BrightSpring Health Services, Inc. will post 1.64 earnings per share for the current year.

Hedge Funds Weigh In On BrightSpring Health Services

Several hedge funds have recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new position in BrightSpring Health Services during the fourth quarter worth about $29,000. Salomon & Ludwin LLC bought a new position in BrightSpring Health Services during the fourth quarter worth about $30,000. GHP Investment Advisors Inc. bought a new position in BrightSpring Health Services during the first quarter worth about $31,000. EverSource Wealth Advisors LLC acquired a new stake in BrightSpring Health Services in the second quarter worth $43,000. Finally, Meeder Asset Management Inc. acquired a new stake in BrightSpring Health Services in the first quarter worth $52,000.

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.