BrightSpring Health Services (NASDAQ:BTSG) Sets New 12-Month High – Time to Buy?

BrightSpring Health Services, Inc. (NASDAQ:BTSG) shares hit a new 52-week high during trading on Monday . The company traded as high as $73.06 and last traded at $73.1580, with a volume of 139080 shares traded. The stock had previously closed at $70.69.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on BrightSpring Health Services from $61.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. UBS Group boosted their price target on BrightSpring Health Services from $63.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. BTIG Research upped their price target on BrightSpring Health Services from $65.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Bank of America increased their price objective on shares of BrightSpring Health Services from $66.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Finally, Morgan Stanley increased their price objective on shares of BrightSpring Health Services from $71.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, BrightSpring Health Services has a consensus rating of “Buy” and a consensus target price of $70.12.

BrightSpring Health Services Trading Up 2.9%

The business’s 50-day simple moving average is $64.41 and its two-hundred day simple moving average is $50.20. 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 market capitalization of $14.32 billion, a PE ratio of 51.46, a PEG ratio of 0.89 and a beta of 1.79.

BrightSpring Health Services (NASDAQ:BTSG) last announced its earnings results on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $3.39 billion. During the same period in the previous year, the company earned $0.14 earnings per share. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. On average, analysts predict that BrightSpring Health Services, Inc. will post 1.7 earnings per share for the current year.

Insider Activity at BrightSpring Health Services

In other news, insider Lisa A. Nalley sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $2,056,250.00. Following the completion of the sale, the insider owned 131,948 shares of the company’s stock, valued at approximately $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction 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 completion of the sale, the insider owned 1,194,503 shares of the company’s stock, valued at approximately $70,177,051.25. This trade represents a 9.82% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC increased its holdings in BrightSpring Health Services by 1,221.9% in the fourth quarter. SG Americas Securities LLC now owns 183,103 shares of the company’s stock valued at $6,857,000 after buying an additional 169,251 shares during the last quarter. New York State Teachers Retirement System bought a new position in BrightSpring Health Services during the 4th quarter worth approximately $1,311,000. State of Alaska Department of Revenue lifted its holdings in BrightSpring Health Services by 540.6% during the 4th quarter. State of Alaska Department of Revenue now owns 68,973 shares of the company’s stock worth $2,582,000 after buying an additional 58,206 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in BrightSpring Health Services by 701.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 255,902 shares of the company’s stock worth $9,827,000 after buying an additional 223,988 shares during the last quarter. Finally, Capricorn Fund Managers Ltd acquired a new position in shares of BrightSpring Health Services in the 4th quarter worth approximately $3,745,000.

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.