BrightSpring Health Services (NASDAQ:BTSG) Reaches New 52-Week High – Here’s Why

BrightSpring Health Services, Inc. (NASDAQ:BTSG)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $62.34 and last traded at $61.9170, with a volume of 244453 shares trading hands. The stock had previously closed at $61.00.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Cantor Fitzgerald set a $49.00 target price on BrightSpring Health Services in a report on Monday, March 2nd. Leerink Partners reissued an “outperform” rating and set a $49.00 price target on shares of BrightSpring Health Services in a research report on Wednesday, March 18th. The Goldman Sachs Group initiated coverage on BrightSpring Health Services in a research note on Monday. They set a “buy” rating and a $71.00 price objective on the stock. TD Cowen lifted their price objective on shares of BrightSpring Health Services from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $60.00 target price on shares of BrightSpring Health Services in a research note on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $58.53.

BrightSpring Health Services Price Performance

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 company has a fifty day moving average price of $51.95 and a 200 day moving average price of $43.47. The company has a market capitalization of $12.07 billion, a P/E ratio of 43.42, a price-to-earnings-growth ratio of 0.76 and a beta of 1.87.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.10. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter last year, the business posted $0.14 EPS. The business’s revenue was up 25.6% on a year-over-year basis. On average, sell-side analysts forecast that BrightSpring Health Services, Inc. will post 1.67 EPS for the current fiscal year.

Insider Transactions at BrightSpring Health Services

In other news, insider Jon B. Rousseau sold 130,000 shares of the business’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 transaction of $7,637,500.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Lisa A. Nalley sold 35,000 shares of the 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 $2,056,250.00. Following the completion of the transaction, the insider directly owned 131,948 shares of the company’s stock, valued at $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. NBC Securities Inc. bought a new stake in shares of BrightSpring Health Services during the fourth quarter valued at about $29,000. Salomon & Ludwin LLC bought a new position in BrightSpring Health Services in the 4th quarter valued at about $30,000. GHP Investment Advisors Inc. bought a new position in BrightSpring Health Services in the 1st quarter valued at about $31,000. EverSource Wealth Advisors LLC acquired a new position in BrightSpring Health Services during the 2nd quarter valued at about $43,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of BrightSpring Health Services during the 1st quarter worth about $52,000.

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.