BrightSpring Health Services’ (BTSG) Buy Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of BrightSpring Health Services (NASDAQ:BTSG) in a research note issued to investors on Monday morning,Benzinga reports. They currently have a $90.00 price objective on the stock.

BTSG has been the subject of several other research reports. The Goldman Sachs Group initiated coverage on BrightSpring Health Services in a research note on Monday, June 8th. They issued a “buy” rating and a $71.00 target price for the company. UBS Group upped their price target on BrightSpring Health Services from $63.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Stephens increased their price target on shares of BrightSpring Health Services from $53.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. TD Cowen raised their price objective on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Finally, Mizuho boosted their price objective on shares of BrightSpring Health Services from $52.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $70.71.

BrightSpring Health Services Trading Up 0.4%

NASDAQ:BTSG opened at $63.02 on Monday. BrightSpring Health Services has a 1 year low of $19.51 and a 1 year high of $73.75. The stock’s fifty day moving average price is $66.51 and its two-hundred day moving average price is $52.44. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.59 and a quick ratio of 1.22. The company has a market cap of $12.47 billion, a P/E ratio of 37.96, a P/E/G ratio of 0.77 and a beta of 1.88.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.05. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%.The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the previous year, the business earned $0.22 earnings per share. The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. As a group, analysts expect that BrightSpring Health Services will post 1.78 EPS for the current year.

Insider Transactions at BrightSpring Health Services

In other BrightSpring Health Services news, insider Lisa A. Nalley sold 35,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $7,751,945. This represents a 20.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jon B. Rousseau sold 130,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $7,637,500.00. Following the completion of the sale, the insider directly owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. The trade was a 9.82% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BrightSpring Health Services

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. NBC Securities Inc. purchased a new position in BrightSpring Health Services in the 4th quarter worth approximately $29,000. Salomon & Ludwin LLC bought a new position in shares of BrightSpring Health Services in the 4th quarter worth $30,000. GHP Investment Advisors Inc. purchased a new stake in shares of BrightSpring Health Services during the 1st quarter valued at $31,000. EverSource Wealth Advisors LLC purchased a new stake in shares of BrightSpring Health Services during the 2nd quarter valued at $43,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of BrightSpring Health Services during the 1st quarter worth $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.