BrightSpring Health Services (NASDAQ:BTSG) Reaches New 52-Week High – What’s Next?

BrightSpring Health Services, Inc. (NASDAQ:BTSG)’s share price reached a new 52-week high on Monday . The company traded as high as $73.06 and last traded at $73.1580, with a volume of 139080 shares traded. The stock had previously closed at $70.69.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BTSG. BMO Capital Markets set a $70.00 target price on BrightSpring Health Services in a research report on Thursday, May 21st. Morgan Stanley raised their price target on BrightSpring Health Services from $71.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Zacks Research lowered BrightSpring Health Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. KeyCorp upped their price objective on shares of BrightSpring Health Services from $60.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Finally, Weiss Ratings raised shares of BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $70.12.

BrightSpring Health Services Stock Up 2.2%

The firm has a market capitalization of $14.25 billion, a price-to-earnings ratio of 51.40, a price-to-earnings-growth ratio of 0.89 and a beta of 1.79. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.74 and a quick ratio of 1.38. The business has a fifty day moving average price of $63.76 and a two-hundred day moving average price of $49.72.

BrightSpring Health Services (NASDAQ:BTSG) last released its earnings results on Friday, May 1st. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The company’s revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 earnings per share. On average, equities analysts expect that BrightSpring Health Services, Inc. will post 1.7 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Lisa A. Nalley sold 35,000 shares of the 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 sale, the insider owned 131,948 shares in the company, valued at $7,751,945. This represents a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jon B. Rousseau sold 130,000 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 transaction of $7,637,500.00. Following the transaction, the insider directly owned 1,194,503 shares of the company’s stock, valued at approximately $70,177,051.25. This trade represents a 9.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On BrightSpring Health Services

Several hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC purchased a new position in shares of BrightSpring Health Services during the 1st quarter valued at about $276,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of BrightSpring Health Services by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,429 shares of the company’s stock valued at $587,000 after buying an additional 1,780 shares during the period. Millennium Management LLC boosted its stake in shares of BrightSpring Health Services by 0.3% in the first quarter. Millennium Management LLC now owns 577,885 shares of the company’s stock worth $10,454,000 after buying an additional 1,967 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of BrightSpring Health Services by 11.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,280 shares of the company’s stock worth $2,664,000 after buying an additional 14,586 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new stake in BrightSpring Health Services during the second quarter worth about $351,000.

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.