BrightSpring Health Services (NASDAQ:BTSG) Sets New 1-Year High – What’s Next?

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $47.55 and last traded at $47.3750, with a volume of 42091 shares. The stock had previously closed at $47.27.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BTSG. Morgan Stanley raised their price objective on BrightSpring Health Services from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, March 4th. Leerink Partners reaffirmed an “outperform” rating and set a $49.00 price objective on shares of BrightSpring Health Services in a report on Wednesday, March 18th. Cantor Fitzgerald set a $49.00 price objective on BrightSpring Health Services in a report on Monday, March 2nd. BMO Capital Markets reiterated an “outperform” rating and set a $46.00 target price on shares of BrightSpring Health Services in a research note on Friday, January 23rd. Finally, Zacks Research upgraded shares of BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $45.50.

BrightSpring Health Services Stock Down 0.1%

The firm has a market cap of $9.12 billion, a price-to-earnings ratio of 53.41, a P/E/G ratio of 0.62 and a beta of 2.03. The firm’s 50 day moving average price is $42.03 and its two-hundred day moving average price is $37.66. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.57 and a quick ratio of 1.12.

BrightSpring Health Services (NASDAQ:BTSG) last announced its earnings results on Friday, February 27th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.01). BrightSpring Health Services had a return on equity of 12.66% and a net margin of 1.48%.The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter last year, the company posted $0.11 EPS. BrightSpring Health Services’s quarterly revenue was up 29.3% on a year-over-year basis. As a group, sell-side analysts forecast that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Activity at BrightSpring Health Services

In related news, CFO Jennifer A. Phipps sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total value of $1,440,250.00. Following the completion of the sale, the chief financial officer owned 196,840 shares in the company, valued at $8,099,966. This trade represents a 15.10% 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 Jon B. Rousseau sold 220,000 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total transaction of $9,053,000.00. Following the completion of the sale, the insider owned 1,023,880 shares of the company’s stock, valued at approximately $42,132,662. The trade was a 17.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 285,000 shares of company stock worth $11,727,750 over the last 90 days. Company insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On BrightSpring Health Services

A number of hedge funds have recently added to or reduced their stakes in BTSG. CWM LLC boosted its stake in shares of BrightSpring Health Services by 17.5% during the 4th quarter. CWM LLC now owns 1,874 shares of the company’s stock worth $70,000 after acquiring an additional 279 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of BrightSpring Health Services by 17.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,826 shares of the company’s stock worth $143,000 after acquiring an additional 565 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of BrightSpring Health Services during the 4th quarter worth approximately $29,000. Salomon & Ludwin LLC purchased a new stake in shares of BrightSpring Health Services during the 4th quarter worth approximately $30,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of BrightSpring Health Services by 112.8% during the 4th quarter. Farther Finance Advisors LLC now owns 1,717 shares of the company’s stock worth $64,000 after acquiring an additional 910 shares in the last quarter.

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.