BrightSpring Health Services (NASDAQ:BTSG) Stock Price Expected to Rise, Leerink Partners Analyst Says

Key Points

• Leerink Partners raised BrightSpring Health Services’ price target to $92 from $72 and maintained an “outperform” rating, implying 39.05% upside from the previous close.
• Analyst sentiment remains broadly positive: BrightSpring has an average “Moderate Buy” rating and a consensus price target of $77.62, with TD Cowen and Goldman Sachs also issuing or reiterating buy ratings.
• The company reported stronger-than-expected quarterly results, posting $0.54 in earnings per share versus the $0.47 consensus estimate and $4.21 billion in revenue, up 26.4% year over year.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) had its target price boosted by investment analysts at Leerink Partners from $72.00 to $92.00 in a report issued on Monday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Leerink Partners's price target suggests a potential upside of 39.05% from the company's previous close.

A number of other brokerages have also weighed in on BTSG. TD Cowen increased their target price on shares of BrightSpring Health Services from $81.00 to $84.00 and gave the stock a "buy" rating in a research report on Monday. The Goldman Sachs Group reissued a "buy" rating and issued a $90.00 price target on shares of BrightSpring Health Services in a research report on Monday. Guggenheim began coverage on shares of BrightSpring Health Services in a research note on Monday, July 13th. They set a "buy" rating and a $81.00 price target on the stock. Raymond James Financial started coverage on shares of BrightSpring Health Services in a report on Thursday, July 9th. They issued an "outperform" rating and a $80.00 price objective for the company. Finally, KeyCorp reiterated an "overweight" rating on shares of BrightSpring Health Services in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, BrightSpring Health Services presently has an average rating of "Moderate Buy" and an average target price of $77.62.

BrightSpring Health Services Stock Performance

Shares of NASDAQ BTSG traded down $0.72 during trading on Monday, reaching $66.17. 2,276,126 shares of the stock traded hands, compared to its average volume of 2,853,355. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.62 and a quick ratio of 1.22. The stock has a market capitalization of $13.09 billion, a P/E ratio of 35.81, a price-to-earnings-growth ratio of 0.87 and a beta of 1.77. BrightSpring Health Services has a 52-week low of $30.64 and a 52-week high of $73.75. The company has a 50-day moving average of $59.94 and a 200-day moving average of $54.54.

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

Institutional Trading of BrightSpring Health Services

Several institutional investors and hedge funds have recently bought and sold shares of the company. Root Financial Partners LLC bought a new position in shares of BrightSpring Health Services in the third quarter worth $25,000. Allworth Financial LP bought a new stake in BrightSpring Health Services during the second quarter valued at $28,000. IFP Advisors Inc grew its position in BrightSpring Health Services by 204.5% during the second quarter. IFP Advisors Inc now owns 606 shares of the company's stock worth $42,000 after buying an additional 407 shares in the last quarter. Kilter Group LLC purchased a new position in BrightSpring Health Services during the second quarter worth about $50,000. Finally, Meeder Asset Management Inc. purchased a new position in BrightSpring Health Services during the first quarter worth about $52,000.

BrightSpring Health Services Company Profile

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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