BrightSpring Health Services (NASDAQ:BTSG) Rating Increased to Moderate Buy at Raymond James Financial

Raymond James Financial upgraded shares of BrightSpring Health Services (NASDAQ:BTSG) to a moderate buy rating in a research note published on Thursday,Zacks.com reports.

A number of other equities analysts have also weighed in on the stock. BMO Capital Markets set a $70.00 price objective on shares of BrightSpring Health Services in a research report on Thursday, May 21st. The Goldman Sachs Group assumed coverage on shares of BrightSpring Health Services in a research note on Monday, June 8th. They set a “buy” rating and a $71.00 price target on the stock. Zacks Research cut BrightSpring Health Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Wells Fargo & Company raised their price target on BrightSpring Health Services from $50.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Finally, Morgan Stanley upped their price objective on BrightSpring Health Services from $62.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $66.56.

BrightSpring Health Services Stock Performance

Shares of NASDAQ:BTSG traded down $0.15 on Thursday, reaching $71.43. The company’s stock had a trading volume of 1,817,742 shares, compared to its average volume of 3,244,908. BrightSpring Health Services has a 52-week low of $19.01 and a 52-week high of $72.06. The stock has a market capitalization of $14.09 billion, a P/E ratio of 50.66, a PEG ratio of 0.97 and a beta of 1.79. The stock’s 50-day moving average is $62.03 and its two-hundred day moving average is $48.54. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.74 and a quick ratio of 1.38.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly 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 firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.39 billion. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The business’s revenue was up 25.6% on a year-over-year basis. During the same quarter last year, the company posted $0.14 earnings per share. As a group, sell-side analysts forecast that BrightSpring Health Services will post 1.66 EPS for the current year.

Insider Transactions at BrightSpring Health Services

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

Institutional Trading of BrightSpring Health Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BTSG. NBC Securities Inc. acquired a new position in shares of BrightSpring Health Services in the fourth quarter valued at approximately $29,000. Salomon & Ludwin LLC purchased a new stake in BrightSpring Health Services in the 4th quarter worth approximately $30,000. GHP Investment Advisors Inc. purchased a new stake in BrightSpring Health Services in the 1st quarter worth approximately $31,000. EverSource Wealth Advisors LLC acquired a new position in BrightSpring Health Services in the 2nd quarter valued at $43,000. Finally, Meeder Asset Management Inc. acquired a new position in BrightSpring Health Services in the 1st quarter valued at $52,000.

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.