BrightSpring Health Services (NASDAQ:BTSG) Stock Rating Lowered by Wall Street Zen

BrightSpring Health Services (NASDAQ:BTSG) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Sunday.

BTSG has been the topic of several other reports. BMO Capital Markets set a $70.00 target price on shares of BrightSpring Health Services in a report on Thursday, May 21st. BTIG Research reaffirmed a “buy” rating and issued a $90.00 price target on shares of BrightSpring Health Services in a research report on Thursday, August 13th. Guggenheim initiated coverage on shares of BrightSpring Health Services in a report on Monday, July 13th. They set a “buy” rating and a $81.00 price objective on the stock. Zacks Research raised shares of BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $70.00 target price on shares of BrightSpring Health Services in a report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating and eighteen have given a Buy rating to the stock. According to data from MarketBeat, BrightSpring Health Services currently has a consensus rating of “Buy” and a consensus price target of $70.71.

BrightSpring Health Services Stock Up 1.1%

Shares of NASDAQ:BTSG opened at $59.49 on Friday. BrightSpring Health Services has a 52-week low of $22.86 and a 52-week high of $73.75. The stock has a market cap of $11.77 billion, a P/E ratio of 35.84, a price-to-earnings-growth ratio of 0.71 and a beta of 1.88. The business’s 50 day moving average is $66.36 and its 200 day moving average is $54.33. The company has a quick ratio of 1.22, a current ratio of 1.59 and a debt-to-equity ratio of 1.06.

BrightSpring Health Services (NASDAQ:BTSG) last issued its earnings results on Friday, July 31st. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.66 billion. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%.BrightSpring Health Services’s revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 EPS. Sell-side analysts predict that BrightSpring Health Services will post 1.82 EPS for the current year.

Insider Buying and Selling at BrightSpring Health Services

In related news, insider Jon B. Rousseau sold 130,000 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the transaction, the insider directly owned 1,194,503 shares of the company’s stock, valued at $70,177,051.25. This represents a 9.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Lisa A. Nalley sold 35,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $2,056,250.00. Following the completion of the sale, the insider owned 131,948 shares of the company’s stock, valued at approximately $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On BrightSpring Health Services

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allworth Financial LP purchased a new stake in shares of BrightSpring Health Services during the second quarter valued at $28,000. NBC Securities Inc. acquired a new stake in BrightSpring Health Services during the 4th quarter worth about $29,000. GHP Investment Advisors Inc. acquired a new stake in BrightSpring Health Services during the 1st quarter worth about $31,000. EverSource Wealth Advisors LLC purchased a new stake in BrightSpring Health Services during the 2nd quarter valued at about $43,000. Finally, Kilter Group LLC purchased a new stake in BrightSpring Health Services during the 2nd quarter valued at about $50,000.

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.