BrightSpring Health Services, Inc. (NASDAQ:BTSG) Given Average Recommendation of "Buy" by Brokerages

Key Points

• BrightSpring Health Services has a consensus analyst rating of "Buy" from 20 brokerages, with an average 12-month price target of about $68.41.
• The company posted strong quarterly results, reporting EPS of $0.39 versus the $0.29 estimate and revenue of $3.61 billion, up 25.6% year over year.
• Recent insider activity included significant share sales by executives Lisa A. Nalley and Jon B. Rousseau, while institutional investors such as Vanguard and State Street also increased their stakes.

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Get Free Report) have been given a consensus rating of "Buy" by the twenty brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation, eighteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $68.4118.

Several analysts recently weighed in on the stock. Stephens boosted their price objective on shares of BrightSpring Health Services from $53.00 to $64.00 and gave the stock an "overweight" rating in a research note on Monday, May 4th. Zacks Research downgraded BrightSpring Health Services from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Weiss Ratings raised BrightSpring Health Services from a "hold (c)" rating to a "buy (b-)" rating in a report on Monday, May 4th. Guggenheim assumed coverage on BrightSpring Health Services in a research report on Monday. They issued a "buy" rating and a $81.00 price target on the stock. Finally, BTIG Research increased their price target on BrightSpring Health Services from $65.00 to $90.00 and gave the company a "buy" rating in a research note on Monday, June 22nd.

BrightSpring Health Services Stock Down 2.5%

Shares of NASDAQ:BTSG opened at $69.64 on Tuesday. BrightSpring Health Services has a 52-week low of $19.01 and a 52-week high of $72.22. The company has a market capitalization of $13.74 billion, a PE ratio of 49.39, a price-to-earnings-growth ratio of 0.97 and a beta of 1.79. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.38 and a current ratio of 1.74. The company has a fifty day moving average of $62.46 and a 200-day moving average of $48.84.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.10. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same quarter last year, the business earned $0.14 EPS. The firm's quarterly revenue was up 25.6% on a year-over-year basis. On average, equities analysts predict that BrightSpring Health Services will post 1.66 EPS for the current fiscal year.

Insider Activity at BrightSpring Health Services

In other BrightSpring Health Services news, insider Lisa A. Nalley sold 35,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $2,056,250.00. Following the completion of the sale, the insider owned 131,948 shares of the company's stock, valued at approximately $7,751,945. This represents a 20.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jon B. Rousseau sold 130,000 shares of the firm'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 transaction of $7,637,500.00. Following the transaction, the insider owned 1,194,503 shares of the company's stock, valued at approximately $70,177,051.25. The trade was a 9.82% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.80% of the company's stock.

Hedge Funds Weigh In On BrightSpring Health Services

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in BrightSpring Health Services by 30.5% during the 4th quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company's stock worth $469,385,000 after acquiring an additional 2,928,953 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of BrightSpring Health Services by 936.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company's stock valued at $53,705,000 after purchasing an additional 2,056,920 shares during the period. State Street Corp lifted its stake in shares of BrightSpring Health Services by 99.5% in the 4th 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 boosted its position in shares of BrightSpring Health Services by 855.4% during the 2nd 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 in the last quarter. Finally, Invesco Ltd. grew its stake in BrightSpring Health Services by 13.4% during the fourth quarter. Invesco Ltd. now owns 10,595,232 shares of the company's stock worth $396,791,000 after purchasing an additional 1,248,107 shares during the period.

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.

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.