BrightSpring Health Services (NASDAQ:BTSG) Reaches New 52-Week High – Here’s Why

BrightSpring Health Services, Inc. (NASDAQ:BTSG)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $64.60 and last traded at $64.4890, with a volume of 2061 shares traded. The stock had previously closed at $64.08.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BTSG. Cantor Fitzgerald set a $49.00 price target on BrightSpring Health Services in a research report on Monday, March 2nd. Zacks Research raised BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. KeyCorp lifted their price objective on BrightSpring Health Services from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Weiss Ratings upgraded shares of BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Finally, TD Cowen raised their price objective on BrightSpring Health Services from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $58.53.

BrightSpring Health Services Price Performance

The company has a quick ratio of 1.38, a current ratio of 1.74 and a debt-to-equity ratio of 1.24. The stock’s 50-day moving average price is $53.58 and its 200-day moving average price is $44.26. The company has a market capitalization of $12.71 billion, a price-to-earnings ratio of 45.74, a price-to-earnings-growth ratio of 0.82 and a beta of 1.87.

BrightSpring Health Services (NASDAQ:BTSG) last issued its earnings results on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.10. The company had revenue of $3.61 billion for 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%. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.14 EPS. Equities research analysts anticipate that BrightSpring Health Services, Inc. will post 1.67 earnings per share for the current year.

Insider Transactions at BrightSpring Health Services

In other news, 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 transaction of $2,056,250.00. Following the completion of the transaction, the insider directly owned 131,948 shares in the company, valued at approximately $7,751,945. The trade was a 20.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the transaction, the insider directly owned 1,194,503 shares in the company, valued at $70,177,051.25. The trade was a 9.82% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Militia Capital Management LLC bought a new position in shares of BrightSpring Health Services during the 1st quarter valued at about $568,000. Arete Wealth Advisors LLC acquired a new stake in BrightSpring Health Services during the 1st quarter worth approximately $2,486,000. Bank of America Corp DE boosted its stake in BrightSpring Health Services by 48.7% in the 1st quarter. Bank of America Corp DE now owns 1,534,154 shares of the company’s stock worth $65,370,000 after purchasing an additional 502,786 shares during the period. Janus Henderson Group PLC boosted its stake in BrightSpring Health Services by 452.3% in the 1st quarter. Janus Henderson Group PLC now owns 228,941 shares of the company’s stock worth $9,756,000 after purchasing an additional 187,485 shares during the period. Finally, Smith Group Asset Management LLC boosted its position in shares of BrightSpring Health Services by 1.8% during the first quarter. Smith Group Asset Management LLC now owns 53,170 shares of the company’s stock worth $2,266,000 after buying an additional 927 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.