BrightSpring Health Services (NASDAQ:BTSG) Hits New 1-Year High – Should You Buy?

BrightSpring Health Services, Inc. (NASDAQ:BTSG)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $59.30 and last traded at $59.1430, with a volume of 172687 shares. The stock had previously closed at $58.59.

Analyst Ratings Changes

BTSG has been the subject of several analyst reports. Mizuho raised their target price on shares of BrightSpring Health Services from $52.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. TD Cowen lifted their price objective on shares of BrightSpring Health Services from $60.00 to $65.00 and gave the company a “buy” rating in a report on Monday, May 4th. Zacks Research upgraded shares of BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. Wall Street Zen lowered shares of BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Wells Fargo & Company lifted their price objective on shares of BrightSpring Health Services from $50.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company’s stock. Based on data from MarketBeat, BrightSpring Health Services has a consensus rating of “Buy” and a consensus price target of $57.00.

BrightSpring Health Services Stock Up 0.9%

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 firm has a market cap of $11.34 billion, a PE ratio of 41.49, a P/E/G ratio of 0.76 and a beta of 1.71. The business’s 50-day simple moving average is $47.64 and its 200 day simple moving average is $41.12.

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

Insider Buying and Selling at BrightSpring Health Services

In other BrightSpring Health Services news, CFO Jennifer A. Phipps sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total transaction of $1,440,250.00. Following the transaction, the chief financial officer owned 196,840 shares of the company’s stock, valued at approximately $8,099,966. This trade represents a 15.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lisa A. Nalley sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total transaction of $1,234,500.00. Following the transaction, the insider directly owned 110,594 shares in the company, valued at $4,550,943.10. This trade represents a 21.34% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 285,000 shares of company stock valued at $11,727,750. Company insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Lisanti Capital Growth LLC purchased a new position in shares of BrightSpring Health Services in the 3rd quarter worth approximately $1,959,000. Federated Hermes Inc. grew its position in shares of BrightSpring Health Services by 44.8% in the 3rd quarter. Federated Hermes Inc. now owns 319,200 shares of the company’s stock worth $9,436,000 after buying an additional 98,745 shares during the last quarter. Prescott Group Capital Management L.L.C. purchased a new position in shares of BrightSpring Health Services in the 3rd quarter worth approximately $887,000. Bailard Inc. purchased a new position in shares of BrightSpring Health Services in the 3rd quarter worth approximately $378,000. Finally, Vanguard Group Inc. grew its position in shares of BrightSpring Health Services by 6.4% in the 3rd quarter. Vanguard Group Inc. now owns 9,604,703 shares of the company’s stock worth $283,915,000 after buying an additional 576,906 shares during the last quarter.

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.