BrightSpring Health Services (NASDAQ:BTSG) Price Target Raised to $82.00

Key Points

• Wells Fargo raised BrightSpring Health Services’ price target to $82 from $78 and maintained an “overweight” rating, implying 22.59% upside from the reported $66.89 share price.
• Analyst sentiment remains broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $74.75; ratings include 16 Buys, one Strong Buy, and two Holds.
• BrightSpring exceeded quarterly expectations, reporting $0.54 in EPS versus a $0.47 consensus estimate and $4.21 billion in revenue versus $3.88 billion expected, with revenue up 26.4% year over year.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) had its price target boosted by Wells Fargo & Company from $78.00 to $82.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective points to a potential upside of 22.59% from the stock's current price.

A number of other brokerages also recently issued reports on BTSG. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $70.00 price target on shares of BrightSpring Health Services in a report on Monday, August 3rd. Guggenheim started coverage on shares of BrightSpring Health Services in a report on Monday, July 13th. They set a "buy" rating and a $81.00 price objective for the company. Weiss Ratings lowered BrightSpring Health Services from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, October 15th. BTIG Research restated a "buy" rating and set a $90.00 price objective on shares of BrightSpring Health Services in a research report on Thursday, August 13th. Finally, KeyCorp reiterated an "overweight" rating on shares of BrightSpring Health Services in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $74.75.

BrightSpring Health Services Price Performance

Shares of NASDAQ:BTSG opened at $66.89 on Monday. The company has a current ratio of 1.62, a quick ratio of 1.22 and a debt-to-equity ratio of 0.99. The stock has a fifty day simple moving average of $59.94 and a two-hundred day simple moving average of $54.54. BrightSpring Health Services has a 12-month low of $30.64 and a 12-month high of $73.75. The stock has a market capitalization of $13.23 billion, a price-to-earnings ratio of 36.16, a PEG ratio of 0.87 and a beta of 1.77.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last announced its quarterly earnings results on Friday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.07. The firm had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $3.88 billion. BrightSpring Health Services had a net margin of 2.69% and a return on equity of 18.56%. The business's revenue was up 26.4% on a year-over-year basis. On average, research analysts anticipate that BrightSpring Health Services will post 1.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BrightSpring Health Services

Large investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company acquired a new stake in shares of BrightSpring Health Services in the 2nd quarter worth $239,377,000. Bank of America Corp DE purchased a new stake in BrightSpring Health Services in the second quarter valued at about $127,475,000. Bank of New York Mellon Corp purchased a new stake in BrightSpring Health Services in the second quarter valued at about $118,162,000. Arrowstreet Capital Limited Partnership raised its stake in BrightSpring Health Services by 109.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,370,440 shares of the company's stock valued at $58,394,000 after buying an additional 716,949 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in BrightSpring Health Services by 236.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 860,134 shares of the company's stock worth $36,151,000 after acquiring an additional 604,232 shares in the last quarter.

About BrightSpring Health Services

BrightSpring Health Services NASDAQ: BTSG is a Louisville, Kentucky-based provider of home- and community-based health services and pharmacy services. The company focuses on supporting individuals with complex or chronic care needs, including older adults and people with disabilities, through care delivered in homes, communities and other non-hospital settings.

Its services include home health, hospice, personal care, behavioral health, primary care, rehabilitation and community living programs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.