BrightSpring Health Services (NASDAQ:BTSG) Reaches New 1-Year High – Still a Buy?

BrightSpring Health Services, Inc. (NASDAQ:BTSG) shares reached a new 52-week high during trading on Monday . The company traded as high as $73.82 and last traded at $73.82, with a volume of 2574 shares changing hands. The stock had previously closed at $72.91.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BTSG. BTIG Research increased their price objective on BrightSpring Health Services from $65.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Wells Fargo & Company upped their target price on BrightSpring Health Services from $61.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, July 13th. The Goldman Sachs Group started coverage on BrightSpring Health Services in a research note on Monday, June 8th. They issued a “buy” rating and a $71.00 price target for the company. Wall Street Zen cut shares of BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. Finally, Weiss Ratings raised shares of BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. One 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $70.12.

BrightSpring Health Services Price Performance

The stock has a market cap of $14.56 billion, a PE ratio of 52.35, a P/E/G ratio of 0.92 and a beta of 1.79. The business has a fifty day simple moving average of $65.20 and a two-hundred day simple moving average of $50.89. The company has a current ratio of 1.74, a quick ratio of 1.38 and a debt-to-equity ratio of 1.24.

BrightSpring Health Services (NASDAQ:BTSG) last released its earnings results on Friday, May 1st. The company reported $0.39 EPS for the quarter, beating 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 company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter last year, the business posted $0.14 EPS. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. Research analysts forecast that BrightSpring Health Services, Inc. will post 1.7 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On BrightSpring Health Services

Several hedge funds have recently bought and sold shares of BTSG. NBC Securities Inc. bought a new stake in shares of BrightSpring Health Services in the 4th quarter worth approximately $29,000. Salomon & Ludwin LLC purchased a new position in shares of BrightSpring Health Services in the 4th quarter worth about $30,000. GHP Investment Advisors Inc. bought a new position in BrightSpring Health Services in the 1st quarter worth about $31,000. EverSource Wealth Advisors LLC bought a new stake in BrightSpring Health Services during the 2nd quarter valued at about $43,000. Finally, Meeder Asset Management Inc. bought a new stake in BrightSpring Health Services during the 1st quarter valued at about $52,000.

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.