Wells Fargo & Company Increases BrightSpring Health Services (NASDAQ:BTSG) Price Target to $27.00

BrightSpring Health Services (NASDAQ:BTSG) had its price target increased by Wells Fargo & Company from $25.00 to $27.00 in a research note released on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms also recently commented on BTSG. UBS Group raised their price objective on BrightSpring Health Services from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Mizuho set a $26.00 price objective on BrightSpring Health Services in a research note on Monday, May 5th. Finally, Morgan Stanley lifted their target price on BrightSpring Health Services from $20.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, BrightSpring Health Services presently has an average rating of “Moderate Buy” and an average price target of $23.56.

BrightSpring Health Services Trading Up 4.0%

BrightSpring Health Services stock opened at $23.24 on Tuesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 0.97. BrightSpring Health Services has a one year low of $10.15 and a one year high of $24.82. The stock has a market capitalization of $4.05 billion, a PE ratio of -89.38 and a beta of 2.06. The business’s fifty day moving average is $18.16 and its 200 day moving average is $18.82.

BrightSpring Health Services (NASDAQ:BTSG) last announced its earnings results on Friday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.10. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.74 billion. BrightSpring Health Services had a positive return on equity of 4.16% and a negative net margin of 0.38%. The business’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same period last year, the firm posted $0.12 earnings per share. On average, sell-side analysts predict that BrightSpring Health Services will post 0.59 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in BrightSpring Health Services by 275.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 163,618 shares of the company’s stock valued at $2,402,000 after buying an additional 120,005 shares in the last quarter. Legato Capital Management LLC boosted its stake in shares of BrightSpring Health Services by 40.0% in the fourth quarter. Legato Capital Management LLC now owns 66,910 shares of the company’s stock worth $1,139,000 after buying an additional 19,120 shares during the last quarter. SG Americas Securities LLC boosted its position in BrightSpring Health Services by 50.9% during the fourth quarter. SG Americas Securities LLC now owns 37,000 shares of the company’s stock worth $630,000 after purchasing an additional 12,486 shares in the last quarter. Barclays PLC boosted its position in BrightSpring Health Services by 22.2% during the third quarter. Barclays PLC now owns 393,725 shares of the company’s stock worth $5,780,000 after purchasing an additional 71,633 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in BrightSpring Health Services during the fourth quarter worth approximately $18,257,000.

About BrightSpring Health Services

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.