Wells Fargo & Company Boosts BrightSpring Health Services (NASDAQ:BTSG) Price Target to $16.00

BrightSpring Health Services (NASDAQ:BTSG) had its price target lifted by equities research analysts at Wells Fargo & Company from $15.00 to $16.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 37.81% from the stock’s current price.

Several other equities research analysts have also weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded BrightSpring Health Services from a “hold” rating to a “buy” rating and set a $11.50 price target on the stock in a research report on Tuesday, February 27th. Bank of America assumed coverage on BrightSpring Health Services in a research report on Tuesday, February 20th. They set a “buy” rating and a $14.00 price target on the stock. The Goldman Sachs Group dropped their price target on BrightSpring Health Services from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. UBS Group initiated coverage on BrightSpring Health Services in a report on Tuesday, February 20th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, Morgan Stanley initiated coverage on BrightSpring Health Services in a report on Tuesday, February 20th. They issued an “overweight” rating and a $18.00 target price on the stock. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $15.85.

BrightSpring Health Services Price Performance

Shares of BTSG stock traded up $0.11 during trading hours on Monday, reaching $11.61. The company’s stock had a trading volume of 93,415 shares, compared to its average volume of 2,071,383. BrightSpring Health Services has a one year low of $7.85 and a one year high of $12.14. The business’s fifty day moving average is $9.95. The company has a debt-to-equity ratio of 5.73, a quick ratio of 0.84 and a current ratio of 1.17.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.06. The firm had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the firm earned ($0.10) earnings per share. The company’s revenue for the quarter was up 27.0% compared to the same quarter last year. On average, equities research analysts anticipate that BrightSpring Health Services will post 0.67 earnings per share for the current year.

Insider Transactions at BrightSpring Health Services

In other BrightSpring Health Services news, insider James F. Mattingly, Jr. purchased 12,280 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was purchased at an average price of $8.18 per share, for a total transaction of $100,450.40. Following the completion of the purchase, the insider now directly owns 128,700 shares of the company’s stock, valued at $1,052,766. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other BrightSpring Health Services news, CAO Jennifer A. Phipps purchased 12,300 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was purchased at an average price of $8.14 per share, for a total transaction of $100,122.00. Following the completion of the purchase, the chief accounting officer now directly owns 165,618 shares of the company’s stock, valued at $1,348,130.52. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James F. Mattingly, Jr. purchased 12,280 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average price of $8.18 per share, with a total value of $100,450.40. Following the purchase, the insider now directly owns 128,700 shares of the company’s stock, valued at $1,052,766. The disclosure for this purchase can be found here.

Institutional Trading of BrightSpring Health Services

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new stake in BrightSpring Health Services during the first quarter valued at $280,000. Seven Grand Managers LLC purchased a new stake in BrightSpring Health Services during the first quarter valued at $1,630,000. Finally, Capstone Investment Advisors LLC purchased a new stake in BrightSpring Health Services in the first quarter worth about $9,722,000.

BrightSpring Health Services Company Profile

BrightSpring Health Services, Inc operates a home and community-based healthcare services platform in the United States. The company's platform focuses on delivering pharmacy and provider services, including clinical and supportive care in home and community settings to Medicare, Medicaid, and insured populations.