BrightSpring Health Services (NASDAQ:BTSG) Upgraded by Guggenheim to Strong-Buy Rating

Guggenheim upgraded shares of BrightSpring Health Services (NASDAQ:BTSG) to a strong-buy rating in a research note published on Monday,Zacks.com reports.

BTSG has been the topic of several other reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $60.00 price objective on shares of BrightSpring Health Services in a research note on Monday, May 4th. Leerink Partners restated an “outperform” rating and set a $49.00 price objective on shares of BrightSpring Health Services in a research note on Wednesday, March 18th. Morgan Stanley boosted their price target on shares of BrightSpring Health Services from $62.00 to $71.00 and gave the company an “overweight” rating in a report on Tuesday, June 2nd. Raymond James Financial began coverage on shares of BrightSpring Health Services in a research note on Thursday. They issued an “outperform” rating and a $80.00 price target on the stock. Finally, UBS Group lifted their price target on BrightSpring Health Services from $63.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $68.41.

BrightSpring Health Services Price Performance

Shares of NASDAQ BTSG opened at $69.64 on Monday. BrightSpring Health Services has a 1-year low of $19.01 and a 1-year high of $72.22. The business has a 50-day moving average of $62.46 and a 200-day moving average of $48.84. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.74 and a quick ratio of 1.38. The company has a market capitalization of $13.74 billion, a price-to-earnings ratio of 49.39, a PEG ratio of 0.97 and a beta of 1.79.

BrightSpring Health Services (NASDAQ:BTSG) last announced its earnings results on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.10. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The company’s revenue was up 25.6% on a year-over-year basis. During the same period last year, the firm earned $0.14 earnings per share. On average, equities analysts anticipate that BrightSpring Health Services will post 1.66 EPS for the current fiscal year.

Insider Buying and Selling at BrightSpring Health Services

In other BrightSpring Health Services news, insider Lisa A. Nalley sold 35,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $58.75, for a total transaction of $2,056,250.00. Following the completion of the transaction, the insider directly owned 131,948 shares in the company, valued at $7,751,945. This represents a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the completion of the transaction, the insider owned 1,194,503 shares of the company’s stock, valued at $70,177,051.25. This trade represents a 9.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.80% of the company’s stock.

Institutional Trading of BrightSpring Health Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. NBC Securities Inc. acquired a new position in shares of BrightSpring Health Services during the 4th quarter worth about $29,000. Salomon & Ludwin LLC acquired a new position in BrightSpring Health Services during the fourth quarter valued at approximately $30,000. GHP Investment Advisors Inc. bought a new stake in BrightSpring Health Services in the first quarter valued at approximately $31,000. EverSource Wealth Advisors LLC bought a new stake in BrightSpring Health Services in the second quarter valued at approximately $43,000. Finally, Meeder Asset Management Inc. acquired a new stake in BrightSpring Health Services in the first quarter worth $52,000.

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.