BrightSpring Health Services, Inc. (NASDAQ:BTSG) Stock Has Average Target Price of $70.71

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) have earned an average rating of “Buy” from the twenty research firms that are presently covering the company, Marketbeat reports. Eighteen equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $70.71.

A number of equities analysts have recently weighed in on BTSG shares. KeyCorp restated an “overweight” rating on shares of BrightSpring Health Services in a research note on Monday, August 3rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of BrightSpring Health Services in a research report on Friday, July 31st. The Goldman Sachs Group started coverage on BrightSpring Health Services in a report on Monday, June 8th. They set a “buy” rating and a $71.00 price target on the stock. Wells Fargo & Company boosted their price objective on BrightSpring Health Services from $61.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Finally, Raymond James Financial initiated coverage on BrightSpring Health Services in a research note on Thursday, July 9th. They issued an “outperform” rating and a $80.00 price objective for the company.

BrightSpring Health Services Stock Down 1.5%

BTSG opened at $55.69 on Friday. BrightSpring Health Services has a fifty-two week low of $27.11 and a fifty-two week high of $73.75. The firm has a market capitalization of $11.02 billion, a P/E ratio of 33.55, a PEG ratio of 0.66 and a beta of 1.84. The company’s 50-day moving average is $61.02 and its 200 day moving average is $57.70. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.59 and a quick ratio of 1.22.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.66 billion. BrightSpring Health Services had a net margin of 2.55% and a return on equity of 16.73%. The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.22 EPS. Research analysts expect that BrightSpring Health Services will post 1.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BrightSpring Health Services

Several institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its position in BrightSpring Health Services by 48.7% in the first quarter. Bank of America Corp DE now owns 1,534,154 shares of the company’s stock worth $65,370,000 after acquiring an additional 502,786 shares during the period. Ausbil Investment Management Ltd bought a new position in shares of BrightSpring Health Services during the 2nd quarter valued at approximately $2,005,000. Wealthstar Advisors LLC bought a new position in shares of BrightSpring Health Services during the 1st quarter valued at approximately $1,525,000. Bellars Harris Wealth Management LLC purchased a new stake in shares of BrightSpring Health Services during the 2nd quarter worth approximately $4,394,000. Finally, OP Asset Management Ltd purchased a new stake in shares of BrightSpring Health Services during the 1st quarter worth approximately $753,000.

BrightSpring Health Services Company Profile

BrightSpring Health Services, Inc is a U.S. provider of pharmacy and health services focused on individuals with complex or chronic medical needs. The company delivers care across home and community-based settings, serving older adults, people with disabilities, and patients requiring specialized support.

Its services include pharmacy care through PharMerica, home health and hospice, primary and urgent care, behavioral health, rehabilitation, and personal care. BrightSpring also provides residential and community-based services, including assistance with daily living, clinical support, and care coordination for individuals who need ongoing support outside traditional hospital settings.

The company was formed in 2019 through the combination of PharMerica and ResCare.