BrightSpring Health Services (NASDAQ:BTSG) Reaches New 12-Month High – What’s Next?

BrightSpring Health Services, Inc. (NASDAQ:BTSG)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $60.48 and last traded at $60.32, with a volume of 2050206 shares trading hands. The stock had previously closed at $58.50.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BTSG shares. Wall Street Zen downgraded BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Wells Fargo & Company lifted their target price on BrightSpring Health Services from $50.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. TD Cowen lifted their target price on BrightSpring Health Services from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, May 4th. UBS Group lifted their target price on BrightSpring Health Services from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, March 18th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $60.00 target price on shares of BrightSpring Health Services in a research report on Monday, May 4th. 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, the company has an average rating of “Buy” and a consensus target price of $57.00.

BrightSpring Health Services Price Performance

The stock has a market capitalization of $11.70 billion, a price-to-earnings ratio of 42.78, a PEG ratio of 0.77 and a beta of 1.71. 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 company has a 50 day moving average of $48.48 and a 200 day moving average of $41.55.

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

Insider Buying and Selling

In related news, insider Jon B. Rousseau sold 220,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total transaction of $9,053,000.00. Following the completion of the transaction, the insider directly owned 1,023,880 shares of the company’s stock, valued at $42,132,662. The trade was a 17.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jennifer A. Phipps sold 35,000 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer directly owned 196,840 shares of the company’s stock, valued at $8,099,966. The trade was a 15.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 285,000 shares of company stock valued at $11,727,750 in the last three months. 2.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Arete Wealth Advisors LLC acquired a new position in BrightSpring Health Services during the 1st quarter worth $2,486,000. Bank of America Corp DE boosted its position in shares of BrightSpring Health Services by 48.7% during the 1st 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 in the last quarter. Janus Henderson Group PLC boosted its position in shares of BrightSpring Health Services by 452.3% during the 1st quarter. Janus Henderson Group PLC now owns 228,941 shares of the company’s stock worth $9,756,000 after acquiring an additional 187,485 shares in the last quarter. Smith Group Asset Management LLC boosted its position in shares of BrightSpring Health Services by 1.8% during the 1st quarter. Smith Group Asset Management LLC now owns 53,170 shares of the company’s stock worth $2,266,000 after acquiring an additional 927 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of BrightSpring Health Services by 23.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,718 shares of the company’s stock worth $201,000 after acquiring an additional 892 shares in the last quarter.

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.