BrightSpring Health Services (NASDAQ:BTSG) Upgraded by Wall Street Zen to “Strong-Buy” Rating

Wall Street Zen upgraded shares of BrightSpring Health Services (NASDAQ:BTSG) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday.

Several other equities research analysts also recently weighed in on BTSG. Morgan Stanley lifted their price target on shares of BrightSpring Health Services from $48.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday. Stephens lifted their price target on shares of BrightSpring Health Services from $53.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Wells Fargo & Company lifted their price target on shares of BrightSpring Health Services from $50.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. KeyCorp lifted their price target on shares of BrightSpring Health Services from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Finally, TD Cowen lifted their price target on shares of BrightSpring Health Services from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the stock. According to data from MarketBeat.com, BrightSpring Health Services presently has an average rating of “Buy” and a consensus target price of $56.29.

BrightSpring Health Services Price Performance

Shares of NASDAQ BTSG opened at $54.83 on Friday. BrightSpring Health Services has a twelve month low of $19.01 and a twelve month high of $54.95. The firm has a fifty day simple moving average of $44.21 and a 200 day simple moving average of $39.32. The company has a market capitalization of $10.63 billion, a PE ratio of 38.89, a P/E/G ratio of 0.75 and a beta of 1.71. The company has a quick ratio of 1.38, a current ratio of 1.74 and a debt-to-equity ratio of 1.24.

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, topping analysts’ consensus estimates of $0.29 by $0.10. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter last year, the firm earned $0.14 earnings per share. BrightSpring Health Services’s quarterly revenue was up 25.6% on a year-over-year basis. On average, sell-side analysts forecast that BrightSpring Health Services will post 1.64 EPS for the current year.

Insider Activity

In other news, insider Jon B. Rousseau sold 220,000 shares of BrightSpring Health Services stock in a transaction dated Wednesday, March 4th. The shares were 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 in the company, valued at $42,132,662. This trade represents a 17.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lisa A. Nalley sold 30,000 shares of BrightSpring Health Services 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 owned 110,594 shares of the company’s stock, valued at $4,550,943.10. This represents a 21.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 285,000 shares of company stock worth $11,727,750 over the last three months. 2.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BTSG. GHP Investment Advisors Inc. purchased a new position in BrightSpring Health Services during the first quarter worth about $31,000. NBC Securities Inc. purchased a new position in BrightSpring Health Services during the fourth quarter worth about $29,000. Salomon & Ludwin LLC purchased a new position in BrightSpring Health Services during the fourth quarter worth about $30,000. Meeder Asset Management Inc. purchased a new position in BrightSpring Health Services during the first quarter worth about $52,000. Finally, CWM LLC boosted its holdings in BrightSpring Health Services by 105.3% during the third quarter. CWM LLC now owns 1,595 shares of the company’s stock worth $47,000 after purchasing an additional 818 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.