BrightSpring Health Services (NASDAQ:BTSG) Stock Moved Up to “Strong-Buy” by 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 Thursday,Zacks reports.

BTSG has been the topic of a number of other reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of BrightSpring Health Services in a research note on Friday, October 2nd. KeyCorp reiterated an “overweight” rating on shares of BrightSpring Health Services in a research report on Monday, August 3rd. Leerink Partners increased their price objective on BrightSpring Health Services from $72.00 to $92.00 and gave the company an “outperform” rating in a research note on Monday, November 2nd. Raymond James Financial started coverage on BrightSpring Health Services in a research note on Thursday, July 9th. They set an “outperform” rating and a $80.00 price objective for the company. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $90.00 target price on shares of BrightSpring Health Services in a report on Monday, November 2nd. Two research analysts have rated the stock with a Strong Buy rating and seventeen have given a Buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $77.81.

BrightSpring Health Services Trading Up 2.0%

Shares of BTSG stock traded up $1.29 on Thursday, hitting $67.15. 2,482,830 shares of the company’s stock traded hands, compared to its average volume of 2,300,796. The stock has a market capitalization of $13.36 billion, a price-to-earnings ratio of 36.30, a P/E/G ratio of 0.80 and a beta of 1.77. The company’s fifty day simple moving average is $60.76 and its 200 day simple moving average is $55.26. BrightSpring Health Services has a one year low of $30.64 and a one year high of $73.75. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.22 and a current ratio of 1.62.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings results on Friday, October 30th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.07. BrightSpring Health Services had a net margin of 2.69% and a return on equity of 18.56%. The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $3.88 billion. BrightSpring Health Services’s quarterly revenue was up 26.4% compared to the same quarter last year. Equities analysts forecast that BrightSpring Health Services will post 1.70 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. WESPAC Advisors LLC raised its holdings in shares of BrightSpring Health Services by 1.9% during the third quarter. WESPAC Advisors LLC now owns 11,942 shares of the company’s stock valued at $678,000 after acquiring an additional 228 shares in the last quarter. Allworth Financial LP boosted its holdings in BrightSpring Health Services by 179.3% in the second quarter. Allworth Financial LP now owns 405 shares of the company’s stock valued at $28,000 after acquiring an additional 260 shares in the last quarter. Hohimer Wealth Management LLC increased its position in BrightSpring Health Services by 4.8% during the 3rd quarter. Hohimer Wealth Management LLC now owns 6,281 shares of the company’s stock valued at $356,000 after purchasing an additional 285 shares during the period. State of Wyoming increased its position in BrightSpring Health Services by 4.5% during the 1st quarter. State of Wyoming now owns 7,776 shares of the company’s stock valued at $331,000 after purchasing an additional 336 shares during the period. Finally, IFP Advisors Inc increased its position in BrightSpring Health Services by 204.5% during the 2nd quarter. IFP Advisors Inc now owns 606 shares of the company’s stock valued at $42,000 after purchasing an additional 407 shares during the period.

About BrightSpring Health Services

BrightSpring Health Services (NASDAQ:BTSG) is a Louisville, Kentucky-based provider of home- and community-based health services and pharmacy services. The company focuses on supporting individuals with complex or chronic care needs, including older adults and people with disabilities, through care delivered in homes, communities and other non-hospital settings.

Its services include home health, hospice, personal care, behavioral health, primary care, rehabilitation and community living programs.