BrightSpring Health Services (NASDAQ:BTSG) Upgraded to “Strong-Buy” at Wall Street Zen

BrightSpring Health Services (NASDAQ:BTSG) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Several other equities analysts have also weighed in on BTSG. TD Cowen assumed coverage on shares of BrightSpring Health Services in a report on Monday, June 23rd. They set a “buy” rating and a $37.00 price objective on the stock. Wells Fargo & Company upped their price objective on shares of BrightSpring Health Services from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Tuesday, May 13th. Morgan Stanley upped their price objective on shares of BrightSpring Health Services from $20.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Finally, Mizuho set a $26.00 price objective on shares of BrightSpring Health Services in a report on Monday, May 5th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $24.90.

BrightSpring Health Services Stock Performance

Shares of BTSG opened at $22.12 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.37 and a debt-to-equity ratio of 1.48. The stock has a market capitalization of $3.89 billion, a P/E ratio of 78.98 and a beta of 2.30. The firm’s fifty day simple moving average is $22.42 and its two-hundred day simple moving average is $20.07. BrightSpring Health Services has a 12 month low of $10.15 and a 12 month high of $25.57.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings data on Friday, May 2nd. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.10. BrightSpring Health Services had a net margin of 0.49% and a return on equity of 7.76%. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the prior year, the business earned $0.12 earnings per share. The business’s quarterly revenue was up 25.9% compared to the same quarter last year. As a group, analysts predict that BrightSpring Health Services will post 0.59 EPS for the current year.

Insider Transactions at BrightSpring Health Services

In related news, insider Jon B. Rousseau sold 531,840 shares of the company’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $21.75, for a total value of $11,567,520.00. Following the sale, the insider owned 1,184,133 shares in the company, valued at $25,754,892.75. This represents a 30.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Phoenix Aggregator L.P. Kkr sold 2,100,000 shares of the company’s stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $21.15, for a total transaction of $44,415,000.00. Following the completion of the sale, the insider owned 77,096,337 shares in the company, valued at $1,630,587,527.55. This represents a 2.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,919,941 shares of company stock worth $337,025,856 in the last 90 days. 3.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BrightSpring Health Services

A number of institutional investors and hedge funds have recently made changes to their positions in BTSG. FMR LLC grew its position in BrightSpring Health Services by 21.6% in the 4th quarter. FMR LLC now owns 22,102,490 shares of the company’s stock worth $376,405,000 after purchasing an additional 3,933,303 shares in the last quarter. Vanguard Group Inc. grew its position in BrightSpring Health Services by 24.6% in the 1st quarter. Vanguard Group Inc. now owns 6,633,744 shares of the company’s stock worth $120,004,000 after purchasing an additional 1,308,651 shares in the last quarter. Invesco Ltd. grew its position in BrightSpring Health Services by 41.0% in the 1st quarter. Invesco Ltd. now owns 6,172,597 shares of the company’s stock worth $111,662,000 after purchasing an additional 1,794,035 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in BrightSpring Health Services by 264.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,772,772 shares of the company’s stock worth $104,430,000 after purchasing an additional 4,189,805 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in BrightSpring Health Services by 13.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,698,629 shares of the company’s stock worth $45,959,000 after purchasing an additional 328,977 shares in the last quarter.

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.