BrightSpring Health Services (NASDAQ:BTSG) Hits New 12-Month High – Here’s What Happened

BrightSpring Health Services, Inc. (NASDAQ:BTSG)’s share price reached a new 52-week high on Monday . The stock traded as high as $41.26 and last traded at $40.6610, with a volume of 1409046 shares changing hands. The stock had previously closed at $39.27.

Analyst Ratings Changes

BTSG has been the subject of several research analyst reports. Wells Fargo & Company raised their price target on BrightSpring Health Services from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Zacks Research cut BrightSpring Health Services from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. KeyCorp raised BrightSpring Health Services from a “sector weight” rating to an “overweight” rating and set a $45.00 target price for the company in a research report on Friday, December 12th. Jefferies Financial Group set a $36.00 price target on shares of BrightSpring Health Services and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Finally, Mizuho set a $45.00 price objective on shares of BrightSpring Health Services in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, BrightSpring Health Services currently has an average rating of “Moderate Buy” and a consensus price target of $41.33.

BrightSpring Health Services Stock Up 3.1%

The company has a quick ratio of 1.38, a current ratio of 1.79 and a debt-to-equity ratio of 1.36. The stock has a market cap of $7.30 billion, a PE ratio of 66.38, a price-to-earnings-growth ratio of 0.53 and a beta of 2.36. The firm has a fifty day moving average of $37.61 and a 200 day moving average of $30.70.

Institutional Investors Weigh In On BrightSpring Health Services

Several institutional investors have recently added to or reduced their stakes in BTSG. CWM LLC boosted its holdings in BrightSpring Health Services by 17.5% in the fourth quarter. CWM LLC now owns 1,874 shares of the company’s stock valued at $70,000 after purchasing an additional 279 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of BrightSpring Health Services during the 4th quarter worth approximately $29,000. Salomon & Ludwin LLC acquired a new position in shares of BrightSpring Health Services in the 4th quarter valued at $30,000. Farther Finance Advisors LLC grew its position in shares of BrightSpring Health Services by 112.8% in the 4th quarter. Farther Finance Advisors LLC now owns 1,717 shares of the company’s stock valued at $64,000 after buying an additional 910 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in BrightSpring Health Services by 13.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 9,282 shares of the company’s stock worth $274,000 after acquiring an additional 1,121 shares in 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.