Wells Fargo & Company Boosts BrightSpring Health Services (NASDAQ:BTSG) Price Target to $16.00

BrightSpring Health Services (NASDAQ:BTSG) had its price objective boosted by Wells Fargo & Company from $15.00 to $16.00 in a research note published on Monday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also recently issued reports on BTSG. The Goldman Sachs Group cut their price objective on BrightSpring Health Services from $26.00 to $23.00 and set a buy rating for the company in a report on Monday, March 4th. Bank of America started coverage on BrightSpring Health Services in a research report on Tuesday, February 20th. They issued a buy rating and a $14.00 target price for the company. HSBC started coverage on BrightSpring Health Services in a research report on Wednesday, March 6th. They set a buy rating and a $13.00 price objective for the company. UBS Group began coverage on BrightSpring Health Services in a research note on Tuesday, February 20th. They set a buy rating and a $15.00 target price on the stock. Finally, Morgan Stanley began coverage on BrightSpring Health Services in a report on Tuesday, February 20th. They issued an overweight rating and a $18.00 target price for the company. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of Buy and a consensus price target of $15.85.

BrightSpring Health Services Stock Performance

Shares of BTSG opened at $11.37 on Monday. The company has a fifty day moving average price of $10.06. The company has a debt-to-equity ratio of 5.73, a quick ratio of 0.84 and a current ratio of 1.17. BrightSpring Health Services has a 1 year low of $7.85 and a 1 year high of $12.14.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the previous year, the firm posted ($0.10) earnings per share. The business’s revenue for the quarter was up 27.0% compared to the same quarter last year. As a group, analysts forecast that BrightSpring Health Services will post 0.67 EPS for the current year.

Insiders Place Their Bets

In related news, insider James F. Mattingly, Jr. acquired 12,280 shares of BrightSpring Health Services stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $8.18 per share, with a total value of $100,450.40. Following the completion of the purchase, the insider now directly owns 128,700 shares of the company’s stock, valued at approximately $1,052,766. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Jennifer A. Phipps acquired 12,300 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average price of $8.14 per share, with a total value of $100,122.00. Following the completion of the purchase, the chief accounting officer now directly owns 165,618 shares in the company, valued at $1,348,130.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James F. Mattingly, Jr. acquired 12,280 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $8.18 per share, for a total transaction of $100,450.40. Following the purchase, the insider now owns 128,700 shares of the company’s stock, valued at $1,052,766. The disclosure for this purchase can be found here.

Institutional Trading of BrightSpring Health Services

Hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets purchased a new stake in BrightSpring Health Services during the first quarter worth $280,000. Seven Grand Managers LLC purchased a new position in BrightSpring Health Services in the 1st quarter worth $1,630,000. Finally, Capstone Investment Advisors LLC purchased a new position in BrightSpring Health Services in the 1st quarter worth $9,722,000.

BrightSpring Health Services Company Profile

BrightSpring Health Services, Inc operates a home and community-based healthcare services platform in the United States. The company's platform focuses on delivering pharmacy and provider services, including clinical and supportive care in home and community settings to Medicare, Medicaid, and insured populations.