BrightSpring Health Services (NASDAQ:BTSG) Reaches New 1-Year High – Still a Buy?

BrightSpring Health Services, Inc. (NASDAQ:BTSG)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $73.82 and last traded at $73.82, with a volume of 2574 shares changing hands. The stock had previously closed at $72.91.

Analyst Ratings Changes

A number of equities analysts recently weighed in on BTSG shares. Wall Street Zen lowered shares of BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. The Goldman Sachs Group initiated coverage on BrightSpring Health Services in a research note on Monday, June 8th. They set a “buy” rating and a $71.00 target price on the stock. Morgan Stanley upped their price target on BrightSpring Health Services from $71.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. BMO Capital Markets set a $70.00 price objective on BrightSpring Health Services in a research report on Thursday, May 21st. Finally, Weiss Ratings raised BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $70.12.

BrightSpring Health Services Stock Up 1.2%

The company has a quick ratio of 1.38, a current ratio of 1.74 and a debt-to-equity ratio of 1.24. The company’s fifty day moving average is $65.20 and its 200-day moving average is $50.89. The company has a market cap of $14.56 billion, a PE ratio of 52.35, a PEG ratio of 0.92 and a beta of 1.79.

BrightSpring Health Services (NASDAQ:BTSG) last posted its earnings results on Friday, May 1st. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The firm’s revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 EPS. On average, analysts predict that BrightSpring Health Services, Inc. will post 1.7 EPS for the current year.

Insider Buying and Selling at BrightSpring Health Services

In related news, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction on Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $7,637,500.00. Following the completion of the sale, the insider 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lisa A. Nalley sold 35,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $2,056,250.00. Following the sale, the insider owned 131,948 shares of the company’s stock, valued at approximately $7,751,945. This trade represents a 20.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On BrightSpring Health Services

Several institutional investors have recently made changes to their positions in BTSG. SG Americas Securities LLC raised its position in BrightSpring Health Services by 1,221.9% in the fourth quarter. SG Americas Securities LLC now owns 183,103 shares of the company’s stock worth $6,857,000 after acquiring an additional 169,251 shares during the period. New York State Teachers Retirement System bought a new stake in shares of BrightSpring Health Services during the 4th quarter valued at $1,311,000. State of Alaska Department of Revenue grew its position in shares of BrightSpring Health Services by 540.6% during the 4th quarter. State of Alaska Department of Revenue now owns 68,973 shares of the company’s stock valued at $2,582,000 after acquiring an additional 58,206 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of BrightSpring Health Services by 701.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 255,902 shares of the company’s stock worth $9,827,000 after purchasing an additional 223,988 shares in the last quarter. Finally, Westover Capital Advisors LLC purchased a new stake in shares of BrightSpring Health Services in the 4th quarter worth $697,000.

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.