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

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BTSG. UBS Group boosted their price target on BrightSpring Health Services from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. TD Cowen reissued a “buy” rating on shares of BrightSpring Health Services in a research note on Monday, March 2nd. Mizuho boosted their price target on BrightSpring Health Services from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 18th. Cantor Fitzgerald set a $49.00 price objective on BrightSpring Health Services in a research report on Monday, March 2nd. Finally, Leerink Partners restated an “outperform” rating and set a $49.00 price objective on shares of BrightSpring Health Services in a research report on Wednesday, March 18th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $45.50.

BrightSpring Health Services Price Performance

The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.12 and a current ratio of 1.57. The stock has a market capitalization 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 company has a 50-day moving average of $42.03 and a 200-day moving average of $37.66.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings data on Friday, February 27th. The company reported $0.33 earnings per share (EPS) 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 company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the prior year, the firm earned $0.11 earnings per share. The company’s revenue for the quarter was up 29.3% on a year-over-year basis. As a group, equities research analysts expect that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Jennifer A. Phipps sold 35,000 shares of BrightSpring Health Services stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total transaction of $1,440,250.00. Following the completion of the transaction, the chief financial officer directly owned 196,840 shares in the company, valued at $8,099,966. The trade was a 15.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jon B. Rousseau sold 220,000 shares of BrightSpring Health Services stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total value of $9,053,000.00. Following the transaction, the insider owned 1,023,880 shares of the company’s stock, valued at $42,132,662. This represents a 17.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 285,000 shares of company stock worth $11,727,750 in the last ninety days. Insiders own 2.80% of the company’s stock.

Institutional Trading of BrightSpring Health Services

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in BrightSpring Health Services by 30.5% in the 4th quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company’s stock worth $469,385,000 after acquiring an additional 2,928,953 shares during the period. Price T Rowe Associates Inc. MD grew its stake in BrightSpring Health Services by 4.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,662,236 shares of the company’s stock worth $399,302,000 after acquiring an additional 478,436 shares during the period. Invesco Ltd. grew its stake in BrightSpring Health Services by 13.4% in the 4th quarter. Invesco Ltd. now owns 10,595,232 shares of the company’s stock worth $396,791,000 after acquiring an additional 1,248,107 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in BrightSpring Health Services by 21.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,123,865 shares of the company’s stock worth $229,339,000 after acquiring an additional 1,091,757 shares during the period. Finally, Alliancebernstein L.P. grew its stake in BrightSpring Health Services by 12.1% in the 2nd quarter. Alliancebernstein L.P. now owns 5,450,085 shares of the company’s stock worth $128,568,000 after acquiring an additional 588,642 shares during the period.

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.