BrightSpring Health Services (NASDAQ:BTSG) Stock Price Expected to Rise, Mizuho Analyst Says

BrightSpring Health Services (NASDAQ:BTSG) had its price target boosted by research analysts at Mizuho from $52.00 to $61.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s target price suggests a potential upside of 13.93% from the stock’s previous close.

A number of other research firms have also weighed in on BTSG. Morgan Stanley raised their price target on shares of BrightSpring Health Services from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. Zacks Research raised shares of BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 3rd. BTIG Research raised their price target on shares of BrightSpring Health Services from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Monday. Cantor Fitzgerald set a $49.00 price target on shares of BrightSpring Health Services in a research report on Monday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $60.00 price target on shares of BrightSpring Health Services in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $55.29.

BrightSpring Health Services Trading Up 1.8%

NASDAQ:BTSG opened at $53.54 on Tuesday. The company has a current ratio of 1.74, a quick ratio of 1.38 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of 37.97, a PEG ratio of 0.74 and a beta of 1.71. The firm has a fifty day simple moving average of $43.50 and a two-hundred day simple moving average of $38.85. BrightSpring Health Services has a 12 month low of $19.01 and a 12 month high of $54.68.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The business’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period last year, the company posted $0.14 earnings per share. Analysts expect that BrightSpring Health Services will post 1.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 220,000 shares of BrightSpring Health Services stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total value of $9,053,000.00. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jennifer A. Phipps sold 35,000 shares of BrightSpring Health Services stock in a transaction dated 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 sale, the chief financial officer directly owned 196,840 shares in the company, valued at approximately $8,099,966. This represents a 15.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 285,000 shares of company stock valued at $11,727,750. Company insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On BrightSpring Health Services

Several large investors have recently modified their holdings of BTSG. AQR Capital Management LLC purchased a new position in shares of BrightSpring Health Services in the first quarter worth about $276,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of BrightSpring Health Services by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,429 shares of the company’s stock worth $587,000 after purchasing an additional 1,780 shares in the last quarter. Millennium Management LLC increased its stake in shares of BrightSpring Health Services by 0.3% in the first quarter. Millennium Management LLC now owns 577,885 shares of the company’s stock worth $10,454,000 after purchasing an additional 1,967 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of BrightSpring Health Services by 11.0% in 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 worth $2,664,000 after purchasing an additional 14,586 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new position in shares of BrightSpring Health Services in the second quarter worth about $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.