BrightSpring Health Services (NASDAQ:BTSG) Sets New 52-Week High – Should You Buy?

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

Analyst Upgrades and Downgrades

BTSG has been the topic of a number of analyst reports. Stephens increased their target price on BrightSpring Health Services from $53.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, May 4th. KeyCorp upped their price objective on BrightSpring Health Services from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Wall Street Zen lowered BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 23rd. Cantor Fitzgerald set a $49.00 price objective on BrightSpring Health Services in a research report on Monday, March 2nd. Finally, Weiss Ratings raised shares of BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $58.53.

BrightSpring Health Services Price Performance

The company has a fifty day simple moving average of $52.74 and a two-hundred day simple moving average of $43.87. 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 market capitalization of $12.45 billion, a price-to-earnings ratio of 44.74, a P/E/G ratio of 0.78 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 (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 analysts’ expectations of $3.39 billion. During the same quarter last year, the firm earned $0.14 earnings per share. The business’s revenue was up 25.6% on a year-over-year basis. As a group, research analysts anticipate that BrightSpring Health Services, Inc. will post 1.67 earnings per share for the current year.

Insider Activity at BrightSpring Health Services

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

Hedge Funds Weigh In On BrightSpring Health Services

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GHP Investment Advisors Inc. acquired a new position in shares of BrightSpring Health Services during the first quarter worth $31,000. NBC Securities Inc. acquired a new stake in BrightSpring Health Services during the 4th quarter valued at $29,000. Salomon & Ludwin LLC acquired a new stake in BrightSpring Health Services during the 4th quarter valued at $30,000. Meeder Asset Management Inc. acquired a new stake in BrightSpring Health Services during the first quarter worth about $52,000. Finally, Farther Finance Advisors LLC boosted its stake in BrightSpring Health Services by 112.8% in the fourth quarter. Farther Finance Advisors LLC now owns 1,717 shares of the company’s stock valued at $64,000 after acquiring an additional 910 shares during the period.

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.