BrightSpring Health Services (NASDAQ:BTSG) Reaches New 12-Month High – Time to Buy?

BrightSpring Health Services, Inc. (NASDAQ:BTSG) shares hit a new 52-week high on Thursday . The stock traded as high as $56.97 and last traded at $56.50, with a volume of 2794990 shares changing hands. The stock had previously closed at $55.50.

Wall Street Analysts Forecast Growth

BTSG has been the subject of several analyst reports. Wells Fargo & Company increased their price target on shares of BrightSpring Health Services from $50.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Morgan Stanley upped their price objective on shares of BrightSpring Health Services from $48.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $60.00 price objective on shares of BrightSpring Health Services in a report on Monday, May 4th. BTIG Research upped their price objective on shares of BrightSpring Health Services from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, Weiss Ratings upgraded shares of BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $56.29.

BrightSpring Health Services Stock Performance

The company has a current ratio of 1.74, a quick ratio of 1.38 and a debt-to-equity ratio of 1.24. The company’s 50 day moving average is $46.05 and its 200-day moving average is $40.28. The company has a market capitalization of $11.23 billion, a P/E ratio of 41.06, a price-to-earnings-growth ratio of 0.76 and a beta of 1.71.

BrightSpring Health Services (NASDAQ:BTSG) last issued 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. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.39 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. BrightSpring Health Services’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period last year, the business earned $0.14 EPS. Equities analysts anticipate that BrightSpring Health Services, Inc. will post 1.64 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Jennifer A. Phipps sold 35,000 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total value of $1,440,250.00. Following the completion of the transaction, the chief financial officer directly owned 196,840 shares in the company, valued at $8,099,966. This trade represents a 15.10% 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 Lisa A. Nalley sold 30,000 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total transaction of $1,234,500.00. Following the completion of the transaction, the insider owned 110,594 shares of the company’s stock, valued at approximately $4,550,943.10. The trade was a 21.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 285,000 shares of company stock worth $11,727,750 in the last three months. 2.80% of the stock is owned by corporate insiders.

Institutional Trading of BrightSpring Health Services

A number of institutional investors and hedge funds have recently bought and sold shares of BTSG. AQR Capital Management LLC bought a new stake in BrightSpring Health Services during the 1st quarter valued at about $276,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in BrightSpring Health Services by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,429 shares of the company’s stock valued at $587,000 after purchasing an additional 1,780 shares in the last quarter. Millennium Management LLC increased its stake in BrightSpring Health Services by 0.3% during the 1st quarter. Millennium Management LLC now owns 577,885 shares of the company’s stock valued at $10,454,000 after purchasing an additional 1,967 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in BrightSpring Health Services by 11.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,280 shares of the company’s stock valued at $2,664,000 after purchasing an additional 14,586 shares in the last quarter. Finally, Prudential Financial Inc. bought a new stake in BrightSpring Health Services during the 2nd quarter valued at about $351,000.

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.