Brokerages Set BrightSpring Health Services, Inc. (NASDAQ:BTSG) PT at $59.60

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) have been assigned a consensus recommendation of “Buy” from the eighteen brokerages that are covering the company, Marketbeat.com reports. Sixteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $61.2667.

A number of analysts recently commented on the stock. Wells Fargo & Company upped their price objective on shares of BrightSpring Health Services from $50.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Wall Street Zen upgraded shares of BrightSpring Health Services from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Leerink Partners restated an “outperform” rating and issued a $49.00 price objective on shares of BrightSpring Health Services in a research report on Wednesday, March 18th. Morgan Stanley upped their price objective on shares of BrightSpring Health Services from $62.00 to $71.00 and gave the company an “overweight” rating in a research report on Tuesday, June 2nd. Finally, BTIG Research upped their price objective on shares of BrightSpring Health Services from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Monday.

Insiders Place Their Bets

In related news, insider Lisa A. Nalley sold 35,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $2,056,250.00. Following the completion of the sale, the insider owned 131,948 shares in the company, valued at $7,751,945. This represents a 20.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jon B. Rousseau sold 130,000 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the completion of the transaction, the insider directly owned 1,194,503 shares of the company’s stock, valued at approximately $70,177,051.25. The trade was a 9.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BrightSpring Health Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC boosted its stake in BrightSpring Health Services by 17.5% in the 4th quarter. CWM LLC now owns 1,874 shares of the company’s stock worth $70,000 after purchasing an additional 279 shares during the period. State of Wyoming boosted its stake in shares of BrightSpring Health Services by 4.5% during the 1st quarter. State of Wyoming now owns 7,776 shares of the company’s stock worth $331,000 after buying an additional 336 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of BrightSpring Health Services by 17.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,826 shares of the company’s stock worth $143,000 after buying an additional 565 shares during the last quarter. Moran Wealth Management LLC boosted its stake in shares of BrightSpring Health Services by 9.0% during the 1st quarter. Moran Wealth Management LLC now owns 6,925 shares of the company’s stock worth $295,000 after buying an additional 572 shares during the last quarter. Finally, GHP Investment Advisors Inc. acquired a new position in shares of BrightSpring Health Services during the 1st quarter worth about $31,000.

BrightSpring Health Services Stock Performance

Shares of BrightSpring Health Services stock opened at $66.84 on Friday. The firm has a fifty day moving average of $56.13 and a two-hundred day moving average of $45.53. The stock has a market capitalization of $13.19 billion, a price-to-earnings ratio of 47.40, a PEG ratio of 0.87 and a beta of 1.87. BrightSpring Health Services has a 52 week low of $19.01 and a 52 week high of $67.86. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.38 and a current ratio of 1.74.

BrightSpring Health Services (NASDAQ:BTSG) last issued its earnings results on Friday, May 1st. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.29 by $0.10. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS. As a group, equities research analysts predict that BrightSpring Health Services will post 1.67 EPS for the current year.

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.