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

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

A number of other research firms have also recently issued reports on BTSG. TD Cowen lifted their price target on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of BrightSpring Health Services in a report on Friday, July 31st. Zacks Research raised shares of BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Guggenheim began coverage on shares of BrightSpring Health Services in a research report on Monday, July 13th. They issued a “buy” rating and a $81.00 target price on the stock. Finally, KeyCorp reissued an “overweight” rating on shares of BrightSpring Health Services in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating and eighteen have assigned a Buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $70.71.

BrightSpring Health Services Trading Up 2.5%

BTSG stock opened at $61.71 on Friday. The company’s 50-day simple moving average is $66.64 and its 200-day simple moving average is $53.39. 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 has a 52-week low of $22.36 and a 52-week high of $73.75. The firm has a market cap of $12.21 billion, a P/E ratio of 37.17, a PEG ratio of 0.75 and a beta of 1.88.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.05. The firm 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 for the quarter was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 EPS. As a group, equities analysts forecast that BrightSpring Health Services will post 1.78 EPS for the current fiscal year.

Insider Activity at BrightSpring Health Services

In other BrightSpring Health Services news, insider Lisa A. Nalley sold 35,000 shares of BrightSpring Health Services stock in a transaction on Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $2,056,250.00. Following the sale, the insider owned 131,948 shares of the company’s stock, valued at $7,751,945. The trade was a 20.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jon B. Rousseau sold 130,000 shares of the company’s stock in a transaction on 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 sale, the insider directly owned 1,194,503 shares of the company’s stock, valued at $70,177,051.25. The trade was a 9.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BrightSpring Health Services

A number of institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC purchased a new stake in shares of BrightSpring Health Services in the first quarter valued at approximately $276,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in BrightSpring Health Services by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,429 shares of the company’s stock valued at $587,000 after buying an additional 1,780 shares in the last quarter. Millennium Management LLC increased its stake in shares of BrightSpring Health Services by 0.3% in the 1st quarter. Millennium Management LLC now owns 577,885 shares of the company’s stock worth $10,454,000 after acquiring an additional 1,967 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of BrightSpring Health Services by 11.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,280 shares of the company’s stock worth $2,664,000 after acquiring an additional 14,586 shares during the period. Finally, Prudential Financial Inc. purchased a new position in shares of BrightSpring Health Services during the 2nd quarter worth $351,000.

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.