BrightSpring Health Services (NASDAQ:BTSG) Raised to "Strong-Buy" at Zacks Research

Key Points

• Zacks Research upgraded BrightSpring Health Services from “hold” to “strong-buy.” Other analysts have also raised ratings or price targets; the consensus rating is “Buy,” with an average target of $77.81.
• BrightSpring reported quarterly EPS of $0.54, beating the $0.47 estimate, and revenue of $4.21 billion versus $3.88 billion expected. Revenue increased 26.4% year over year.
• The stock opened at $67.15 and was up 2.0% in Thursday trading, with a 52-week range of $30.64 to $73.75.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Thursday, Zacks reports.

A number of other equities analysts also recently commented on BTSG. Morgan Stanley boosted their price objective on BrightSpring Health Services from $71.00 to $80.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 14th. Weiss Ratings upgraded BrightSpring Health Services from a "hold (c+)" rating to a "buy (b)" rating in a research report on Monday. BTIG Research restated a "buy" rating and issued a $90.00 target price on shares of BrightSpring Health Services in a report on Thursday, August 13th. Wall Street Zen upgraded shares of BrightSpring Health Services from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 31st. Finally, TD Cowen lifted their target price on shares of BrightSpring Health Services from $81.00 to $84.00 and gave the stock a "buy" rating in a report on Monday, November 2nd. Two research analysts have rated the stock with a Strong Buy rating and seventeen have issued a Buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $77.81.

BrightSpring Health Services Trading Up 2.0%

Shares of BTSG stock opened at $67.15 on Thursday. The stock has a 50 day simple moving average of $60.76 and a two-hundred day simple moving average of $55.26. The company has a market cap of $13.36 billion, a P/E ratio of 36.30, a PEG ratio of 0.80 and a beta of 1.77. BrightSpring Health Services has a fifty-two week low of $30.64 and a fifty-two week high of $73.75. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.22 and a current ratio of 1.62.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last posted its quarterly earnings data on Friday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.07. The company had revenue of $4.21 billion during 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 firm's quarterly revenue was up 26.4% compared to the same quarter last year. Research analysts forecast that BrightSpring Health Services will post 1.70 earnings per share for the current year.

Institutional Trading of BrightSpring Health Services

Several hedge funds have recently modified their holdings of BTSG. WESPAC Advisors LLC grew its position in shares of BrightSpring Health Services by 1.9% during the 3rd quarter. WESPAC Advisors LLC now owns 11,942 shares of the company's stock valued at $678,000 after buying an additional 228 shares during the last quarter. Allworth Financial LP raised its stake in BrightSpring Health Services by 179.3% during the second quarter. Allworth Financial LP now owns 405 shares of the company's stock worth $28,000 after buying an additional 260 shares during the last quarter. Hohimer Wealth Management LLC increased its position in BrightSpring Health Services by 4.8% in the third quarter. Hohimer Wealth Management LLC now owns 6,281 shares of the company's stock worth $356,000 after buying an additional 285 shares during the last quarter. State of Wyoming boosted its stake in shares of BrightSpring Health Services by 4.5% during the first quarter. State of Wyoming now owns 7,776 shares of the company's stock valued at $331,000 after purchasing an additional 336 shares during the period. Finally, IFP Advisors Inc increased its holdings in shares of BrightSpring Health Services by 204.5% in the 2nd quarter. IFP Advisors Inc now owns 606 shares of the company's stock worth $42,000 after purchasing an additional 407 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.

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