BrightSpring Health Services (NASDAQ:BTSG) Rating Increased to Strong-Buy at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of BrightSpring Health Services (NASDAQ:BTSG) to a strong-buy rating in a research report released on Monday,Zacks.com reports.

A number of other research firms have also recently issued reports on BTSG. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $60.00 price objective on shares of BrightSpring Health Services in a research report on Monday, May 4th. Morgan Stanley lifted their price objective on shares of BrightSpring Health Services from $62.00 to $71.00 and gave the company an “overweight” rating in a report on Tuesday, June 2nd. 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. 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 research report on Monday, May 4th. Finally, Cantor Fitzgerald set a $49.00 price objective on shares of BrightSpring Health Services in a research report on Monday, March 2nd. Three analysts have rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $58.53.

BrightSpring Health Services Price Performance

BTSG stock opened at $59.22 on Monday. BrightSpring Health Services has a 52-week low of $19.01 and a 52-week high of $62.11. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.38 and a current ratio of 1.74. The company has a fifty day moving average price of $51.58 and a 200-day moving average price of $43.27. The company has a market capitalization of $11.68 billion, a P/E ratio of 42.00, a PEG ratio of 0.74 and a beta of 1.87.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.10. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the prior year, the company posted $0.14 earnings per share. BrightSpring Health Services’s revenue for the quarter was up 25.6% compared to the same quarter last year. As a group, equities analysts expect that BrightSpring Health Services will post 1.67 EPS for the current year.

Insider Activity

In other news, insider Lisa A. Nalley sold 35,000 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $58.75, for a total transaction of $2,056,250.00. Following the transaction, the insider directly owned 131,948 shares in the company, valued at approximately $7,751,945. This represents a 20.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jon B. Rousseau sold 130,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $7,637,500.00. Following the transaction, the insider owned 1,194,503 shares in the company, valued at $70,177,051.25. This trade represents a 9.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BrightSpring Health Services

Institutional investors have recently added to or reduced their stakes in the company. CWM LLC increased its holdings in BrightSpring Health Services by 17.5% during the 4th quarter. CWM LLC now owns 1,874 shares of the company’s stock valued at $70,000 after purchasing an additional 279 shares during the period. State of Wyoming increased its holdings in BrightSpring Health Services by 4.5% during the 1st quarter. State of Wyoming now owns 7,776 shares of the company’s stock valued at $331,000 after purchasing an additional 336 shares during the period. EverSource Wealth Advisors LLC increased its holdings in BrightSpring Health Services by 17.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,826 shares of the company’s stock valued at $143,000 after purchasing an additional 565 shares during the period. Moran Wealth Management LLC increased its holdings in BrightSpring Health Services by 9.0% during the 1st quarter. Moran Wealth Management LLC now owns 6,925 shares of the company’s stock valued at $295,000 after purchasing an additional 572 shares during the period. Finally, GHP Investment Advisors Inc. purchased a new stake in shares of BrightSpring Health Services in the 1st quarter worth about $31,000.

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.