BrightSpring Health Services (NASDAQ:BTSG) Hits New 1-Year High – Here’s What Happened

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) hit a new 52-week high during trading on Thursday . The company traded as high as $56.97 and last traded at $56.50, with a volume of 2794990 shares changing hands. The stock had previously closed at $55.50.

Analyst Upgrades and Downgrades

BTSG has been the subject of a number of analyst reports. Stephens raised their price objective on BrightSpring Health Services from $53.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Wells Fargo & Company boosted their target price on BrightSpring Health Services from $50.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Zacks Research raised BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. Leerink Partners reissued an “outperform” rating and issued a $49.00 target price on shares of BrightSpring Health Services in a report on Wednesday, March 18th. Finally, Mizuho lifted their price target on BrightSpring Health Services from $52.00 to $61.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $56.29.

BrightSpring Health Services Trading Up 1.8%

The firm has a 50-day moving average price of $45.37 and a 200-day moving average price of $39.98. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.38 and a current ratio of 1.74. The stock has a market cap of $10.96 billion, a PE ratio of 40.07, a price-to-earnings-growth ratio of 0.76 and a beta of 1.71.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.10. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.39 billion. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.BrightSpring Health Services’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.14 EPS. As a group, equities analysts anticipate that BrightSpring Health Services, Inc. will post 1.64 EPS for the current fiscal year.

Insider Transactions at BrightSpring Health Services

In other BrightSpring Health Services news, CFO Jennifer A. Phipps sold 35,000 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total value of $1,440,250.00. Following the completion of the transaction, the chief financial officer owned 196,840 shares of the company’s stock, valued at approximately $8,099,966. The trade was a 15.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lisa A. Nalley sold 30,000 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total value of $1,234,500.00. Following the completion of the transaction, the insider directly owned 110,594 shares of the company’s stock, valued at approximately $4,550,943.10. This trade represents a 21.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 285,000 shares of company stock valued at $11,727,750 in the last quarter. 2.80% of the stock is owned by insiders.

Hedge Funds Weigh In On BrightSpring Health Services

A number of hedge funds have recently bought and sold shares of the business. Sei Investments Co. raised its position in BrightSpring Health Services by 142.9% in the 1st quarter. Sei Investments Co. now owns 483,912 shares of the company’s stock worth $20,620,000 after buying an additional 284,678 shares during the last quarter. Globeflex Capital L P purchased a new position in BrightSpring Health Services in the 1st quarter worth about $250,000. State of Wyoming raised its position in BrightSpring Health Services by 4.5% in the 1st quarter. State of Wyoming now owns 7,776 shares of the company’s stock worth $331,000 after buying an additional 336 shares during the last quarter. Cetera Investment Advisers raised its position in BrightSpring Health Services by 13.9% in the 1st quarter. Cetera Investment Advisers now owns 9,765 shares of the company’s stock worth $416,000 after buying an additional 1,191 shares during the last quarter. Finally, Militia Capital Management LLC purchased a new position in BrightSpring Health Services in the 1st quarter worth about $568,000.

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.