BrightSpring Health Services (NASDAQ:BTSG) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of BrightSpring Health Services (NASDAQ:BTSG) from a hold rating to a strong-buy rating in a research note published on Tuesday,Zacks.com reports.

A number of other research firms also recently weighed in on BTSG. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $70.00 target price on shares of BrightSpring Health Services in a research report on Monday. Morgan Stanley lifted their price target 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. The Goldman Sachs Group initiated coverage on shares of BrightSpring Health Services in a report on Monday, June 8th. They issued a “buy” rating and a $71.00 price objective for the company. UBS Group increased their target price on shares of BrightSpring Health Services from $63.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Finally, Wells Fargo & Company lifted 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. Two analysts have rated the stock with a Strong Buy rating and eighteen have given a Buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $70.71.

BrightSpring Health Services Stock Up 0.4%

BTSG opened at $63.02 on Tuesday. The business’s fifty day simple moving average is $66.51 and its 200 day simple moving average is $52.44. BrightSpring Health Services has a 52 week low of $19.51 and a 52 week high of $73.75. The company has a quick ratio of 1.22, a current ratio of 1.59 and a debt-to-equity ratio of 1.06. The stock has a market cap of $12.47 billion, a PE ratio of 37.96, a P/E/G ratio of 0.77 and a beta of 1.88.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the previous year, the company posted $0.22 earnings per share. The company’s revenue was up 23.0% compared to the same quarter last year. As a group, research analysts expect that BrightSpring Health Services will post 1.78 earnings per share for the current fiscal year.

Insider Buying and Selling at BrightSpring Health Services

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 130,000 shares of the 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 completion of the sale, the insider owned 1,194,503 shares of the company’s stock, valued at $70,177,051.25. This represents a 9.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Lisa A. Nalley sold 35,000 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction 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. The trade was a 20.96% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On BrightSpring Health Services

Hedge funds have recently made changes to their positions in the business. GHP Investment Advisors Inc. purchased a new position in BrightSpring Health Services during the 1st quarter valued at $31,000. NBC Securities Inc. bought a new stake in shares of BrightSpring Health Services during the 4th quarter valued at about $29,000. Salomon & Ludwin LLC bought a new stake in shares of BrightSpring Health Services during the 4th quarter valued at about $30,000. Meeder Asset Management Inc. purchased a new position in shares of BrightSpring Health Services during the first quarter valued at about $52,000. Finally, Harbor Investment Advisory LLC bought a new position in BrightSpring Health Services in the second quarter worth about $91,000.

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.