Bank of America Issues Positive Forecast for BrightSpring Health Services (NASDAQ:BTSG) Stock Price

BrightSpring Health Services (NASDAQ:BTSG) had its price target lifted by equities research analysts at Bank of America from $66.00 to $77.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective would indicate a potential upside of 12.07% from the company’s previous close.

Several other research firms have also commented on BTSG. Wall Street Zen raised BrightSpring Health Services from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 20th. UBS Group increased their price objective on BrightSpring Health Services from $53.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, March 18th. Stephens raised their target price on shares of BrightSpring Health Services from $53.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Leerink Partners reiterated an “outperform” rating and issued a $49.00 price target on shares of BrightSpring Health Services in a research report on Wednesday, March 18th. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $63.67.

BrightSpring Health Services Stock Down 1.6%

NASDAQ:BTSG traded down $1.14 during midday trading on Thursday, hitting $68.71. 395,212 shares of the company were exchanged, compared to its average volume of 2,754,437. BrightSpring Health Services has a fifty-two week low of $19.01 and a fifty-two week high of $70.91. The company has a market capitalization of $13.56 billion, a PE ratio of 48.60, a price-to-earnings-growth ratio of 0.90 and a beta of 1.79. 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 has a fifty day simple moving average of $58.84 and a 200 day simple moving average of $46.96.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.14 earnings per share. As a group, equities analysts anticipate that BrightSpring Health Services will post 1.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jon B. Rousseau sold 130,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider owned 1,194,503 shares of the company’s stock, valued at approximately $70,177,051.25. The trade was a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Lisa A. Nalley sold 35,000 shares of the company’s stock in a transaction that occurred on 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 sale, the insider owned 131,948 shares of the company’s stock, valued at $7,751,945. This trade represents a 20.96% decrease in their position. The SEC filing for this sale provides additional information. 2.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BrightSpring Health Services

Several hedge funds have recently modified their holdings of BTSG. Vanguard Group Inc. grew its position in BrightSpring Health Services by 30.5% in the 4th quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company’s stock valued at $469,385,000 after buying an additional 2,928,953 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of BrightSpring Health Services by 936.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company’s stock worth $53,705,000 after acquiring an additional 2,056,920 shares during the period. State Street Corp lifted its stake in shares of BrightSpring Health Services by 99.5% in the 4th quarter. State Street Corp now owns 4,033,149 shares of the company’s stock worth $151,041,000 after acquiring an additional 2,011,095 shares during the period. Jane Street Group LLC boosted its holdings in shares of BrightSpring Health Services by 855.4% in the second quarter. Jane Street Group LLC now owns 2,076,730 shares of the company’s stock valued at $48,990,000 after acquiring an additional 1,859,369 shares in the last quarter. Finally, 8 Knots Management LLC purchased a new stake in shares of BrightSpring Health Services in the third quarter valued at about $51,244,000.

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.