BrightSpring Health Services (NASDAQ:BTSG) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of BrightSpring Health Services (NASDAQ:BTSG) from a strong-buy rating to a buy rating in a research report report published on Sunday morning.

Several other brokerages also recently commented on BTSG. Stephens lifted their target price on shares of BrightSpring Health Services from $53.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Mizuho upped their price target on shares of BrightSpring Health Services from $52.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. TD Cowen raised their price target on BrightSpring Health Services from $65.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Guggenheim initiated coverage on BrightSpring Health Services in a research report on Monday, July 13th. They issued a “buy” rating and a $81.00 price target on the stock. Finally, Wells Fargo & Company lifted their price objective on BrightSpring Health Services from $61.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating and eighteen have given a Buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $70.71.

BrightSpring Health Services Trading Down 3.8%

Shares of BTSG stock opened at $57.23 on Friday. BrightSpring Health Services has a 12 month low of $22.86 and a 12 month high of $73.75. The company has a quick ratio of 1.22, a current ratio of 1.59 and a debt-to-equity ratio of 1.06. The business’s 50 day moving average is $66.22 and its two-hundred day moving average is $54.47. The company has a market cap of $11.32 billion, a PE ratio of 34.48, a price-to-earnings-growth ratio of 0.71 and a beta of 1.88.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings results on Friday, July 31st. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.66 billion. BrightSpring Health Services had a net margin of 2.55% and a return on equity of 16.73%. The company’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.22 earnings per share. Equities analysts predict that BrightSpring Health Services will post 1.82 EPS for the current year.

Insider Transactions at BrightSpring Health Services

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 130,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the completion of the transaction, the insider owned 1,194,503 shares in the company, valued at $70,177,051.25. This trade represents a 9.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Lisa A. Nalley sold 35,000 shares of the firm’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 transaction, the insider owned 131,948 shares of the company’s stock, valued at approximately $7,751,945. This represents a 20.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On BrightSpring Health Services

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