BrightSpring Health Services' (BTSG) "Buy" Rating Reiterated at BTIG Research

Key Points

• BTIG Research reiterated its “Buy” rating on BrightSpring Health Services and set a $90 price target, implying approximately 50.8% upside from the reported $59.68 share price. The broader analyst consensus is also “Buy,” with an average target of $70.71.
• BrightSpring reported quarterly EPS of $0.45, exceeding the $0.40 consensus estimate, while revenue rose 23% year over year to $3.87 billion, above expectations of $3.66 billion.
• Institutional ownership increased, including larger positions from Vanguard, State Street and Jane Street, although two company insiders sold a combined 165,000 shares. Insiders retain 2.8% of the company.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report)'s stock had its "buy" rating restated by investment analysts at BTIG Research in a note issued to investors on Thursday,Benzinga reports. They currently have a $90.00 price target on the stock. BTIG Research's price target points to a potential upside of 50.80% from the stock's current price.

BTSG has been the topic of several other research reports. UBS Group upped their price objective on shares of BrightSpring Health Services from $63.00 to $85.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. Raymond James Financial assumed coverage on shares of BrightSpring Health Services in a research report on Thursday, July 9th. They set an "outperform" rating and a $80.00 target price for the company. Stephens upped their target price on shares of BrightSpring Health Services from $53.00 to $64.00 and gave the stock an "overweight" rating in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $70.00 price target on shares of BrightSpring Health Services in a research report on Monday, August 3rd. Finally, The Goldman Sachs Group started coverage on BrightSpring Health Services in a report on Monday, June 8th. They set a "buy" rating and a $71.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating and eighteen have issued a Buy rating to the stock. Based on data from MarketBeat.com, BrightSpring Health Services currently has a consensus rating of "Buy" and a consensus target price of $70.71.

BrightSpring Health Services Stock Up 3.1%

Shares of NASDAQ:BTSG opened at $59.68 on Thursday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.22 and a current ratio of 1.59. BrightSpring Health Services has a 52-week low of $21.58 and a 52-week high of $73.75. The business's 50 day simple moving average is $66.50 and its two-hundred day simple moving average is $53.19. The firm has a market cap of $11.81 billion, a P/E ratio of 35.95, a PEG ratio of 0.71 and a beta of 1.88.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.40 by $0.05. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%.The firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the previous year, the company posted $0.22 earnings per share. The company's quarterly revenue was up 23.0% on a year-over-year basis. As a group, research analysts forecast that BrightSpring Health Services will post 1.78 EPS for the current fiscal year.

Insider Activity at BrightSpring Health Services

In related news, insider Lisa A. Nalley sold 35,000 shares of the company's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $2,056,250.00. Following the transaction, the insider owned 131,948 shares in the company, valued at approximately $7,751,945. This represents a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jon B. Rousseau sold 130,000 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $7,637,500.00. Following the transaction, the insider directly owned 1,194,503 shares of the company's stock, valued at approximately $70,177,051.25. This trade represents a 9.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.80% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BTSG. Vanguard Group Inc. lifted its holdings in BrightSpring Health Services by 30.5% during the fourth quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company's stock valued at $469,385,000 after purchasing an additional 2,928,953 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of BrightSpring Health Services by 936.4% in the second quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company's stock worth $53,705,000 after purchasing an additional 2,056,920 shares in the last quarter. State Street Corp raised its position in shares of BrightSpring Health Services by 99.5% in the fourth quarter. State Street Corp now owns 4,033,149 shares of the company's stock valued at $151,041,000 after purchasing an additional 2,011,095 shares during the period. Jane Street Group LLC raised its position in shares of BrightSpring Health Services by 855.4% in the second quarter. Jane Street Group LLC now owns 2,076,730 shares of the company's stock valued at $48,990,000 after purchasing an additional 1,859,369 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in shares of BrightSpring Health Services during the 2nd quarter valued at approximately $118,162,000.

BrightSpring Health Services Company Profile

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.

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