BrightSpring Health Services (NASDAQ:BTSG) Stock Rating Upgraded by Wall Street Zen

BrightSpring Health Services (NASDAQ:BTSG) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

BTSG has been the subject of several other research reports. Stephens lifted their price objective on BrightSpring Health Services from $53.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. The Goldman Sachs Group started coverage on shares of BrightSpring Health Services in a report on Monday, June 8th. They set a “buy” rating and a $71.00 price objective on the stock. Wells Fargo & Company increased their target price on shares of BrightSpring Health Services from $61.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Morgan Stanley lifted their target price on shares of BrightSpring Health Services from $71.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Finally, BTIG Research reissued a “buy” rating and issued a $90.00 price target on shares of BrightSpring Health Services in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating and eighteen have issued a Buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $70.71.

BrightSpring Health Services Price Performance

Shares of NASDAQ BTSG opened at $61.71 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.22 and a debt-to-equity ratio of 1.06. The stock has a fifty day simple moving average of $66.64 and a two-hundred day simple moving average of $53.48. BrightSpring Health Services has a 1-year low of $22.36 and a 1-year high of $73.75. The firm has a market cap of $12.21 billion, a price-to-earnings ratio of 37.17, a price-to-earnings-growth ratio of 0.75 and a beta of 1.88.

BrightSpring Health Services (NASDAQ:BTSG) last issued its earnings results on Friday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.05. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%.The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same period in the previous year, the company posted $0.22 earnings per share. The business’s revenue was up 23.0% on a year-over-year basis. Analysts anticipate that BrightSpring Health Services will post 1.78 earnings per share for the current year.

Insiders Place Their Bets

In other BrightSpring Health Services news, 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 value of $2,056,250.00. Following the completion of the transaction, the insider owned 131,948 shares in the company, valued at $7,751,945. This trade represents a 20.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $7,637,500.00. Following the transaction, the insider directly owned 1,194,503 shares of the company’s stock, valued at $70,177,051.25. The trade was a 9.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On BrightSpring Health Services

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allworth Financial LP bought a new position in shares of BrightSpring Health Services in the second quarter valued at approximately $28,000. NBC Securities Inc. bought a new stake in BrightSpring Health Services during the 4th quarter worth approximately $29,000. Salomon & Ludwin LLC bought a new stake in BrightSpring Health Services during the 4th quarter worth approximately $30,000. GHP Investment Advisors Inc. purchased a new stake in BrightSpring Health Services in the 1st quarter worth approximately $31,000. Finally, EverSource Wealth Advisors LLC purchased a new stake in BrightSpring Health Services in the 2nd quarter worth approximately $43,000.

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.