BrightSpring Health Services (NASDAQ:BTSG) Reaches New 52-Week High – What’s Next?

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) hit a new 52-week high during trading on Friday . The company traded as high as $72.52 and last traded at $71.4810, with a volume of 4796 shares. The stock had previously closed at $71.58.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BTSG. BTIG Research raised their target price on BrightSpring Health Services from $65.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Leerink Partners reiterated an “outperform” rating and issued a $49.00 price target on shares of BrightSpring Health Services in a research note on Wednesday, March 18th. UBS Group increased their price target on BrightSpring Health Services from $63.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday. Mizuho raised their price objective on BrightSpring Health Services from $52.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings upgraded BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, BrightSpring Health Services has a consensus rating of “Buy” and an average price target of $66.56.

BrightSpring Health Services Trading Down 0.5%

The firm has a market cap of $14.06 billion, a price-to-earnings ratio of 50.70, a price-to-earnings-growth ratio of 0.96 and a beta of 1.79. The business’s 50 day moving average price is $61.57 and its 200-day moving average price is $48.38. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.38 and a current ratio of 1.74.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period last year, the firm earned $0.14 earnings per share. Equities analysts expect that BrightSpring Health Services, Inc. will post 1.66 EPS for the current year.

Insider Activity at BrightSpring Health Services

In other BrightSpring Health Services news, insider Lisa A. Nalley sold 35,000 shares of the 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 $2,056,250.00. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 value of $7,637,500.00. Following the completion of 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 position. The SEC filing for this sale provides additional information. Corporate insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On BrightSpring Health Services

Hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC bought a new stake in BrightSpring Health Services during the first quarter valued at $276,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of BrightSpring Health Services by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,429 shares of the company’s stock worth $587,000 after buying an additional 1,780 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of BrightSpring Health Services by 0.3% in the 1st quarter. Millennium Management LLC now owns 577,885 shares of the company’s stock valued at $10,454,000 after buying an additional 1,967 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of BrightSpring Health Services by 11.0% in 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 buying an additional 14,586 shares during the period. Finally, Prudential Financial Inc. bought a new stake in shares of 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.