BrightSpring Health Services (NASDAQ:BTSG) Reaches New 12-Month High – Here’s What Happened

BrightSpring Health Services, Inc. (NASDAQ:BTSG)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $44.74 and last traded at $44.6690, with a volume of 882666 shares changing hands. The stock had previously closed at $40.13.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BTSG. Stephens initiated coverage on shares of BrightSpring Health Services in a research note on Wednesday, December 10th. They issued an “overweight” rating and a $44.00 price objective on the stock. Bank of America raised their target price on BrightSpring Health Services from $38.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of BrightSpring Health Services in a research note on Monday, December 29th. KeyCorp raised BrightSpring Health Services from a “sector weight” rating to an “overweight” rating and set a $45.00 price target for the company in a report on Friday, December 12th. Finally, BTIG Research raised their price objective on BrightSpring Health Services from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.33.

BrightSpring Health Services Price Performance

The stock has a market cap of $8.00 billion, a P/E ratio of 73.03, a P/E/G ratio of 0.55 and a beta of 2.36. The company’s 50 day moving average price is $39.05 and its 200-day moving average price is $33.10. The company has a quick ratio of 1.38, a current ratio of 1.79 and a debt-to-equity ratio of 1.36.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings data on Friday, February 27th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.38 billion. BrightSpring Health Services had a net margin of 1.04% and a return on equity of 11.61%. The firm’s revenue for the quarter was up 29.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.11 earnings per share. As a group, sell-side analysts expect that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current year.

Hedge Funds Weigh In On BrightSpring Health Services

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Lisanti Capital Growth LLC purchased a new stake in shares of BrightSpring Health Services in the 3rd quarter worth $1,959,000. Federated Hermes Inc. lifted its position in BrightSpring Health Services by 44.8% during the third quarter. Federated Hermes Inc. now owns 319,200 shares of the company’s stock valued at $9,436,000 after purchasing an additional 98,745 shares in the last quarter. Prescott Group Capital Management L.L.C. purchased a new position in BrightSpring Health Services during the third quarter valued at approximately $887,000. Ellsworth Advisors LLC bought a new position in shares of BrightSpring Health Services in the third quarter worth about $983,000. Finally, Bailard Inc. bought a new position in BrightSpring Health Services in the 3rd quarter worth approximately $378,000.

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.