BrightSpring Health Services, Inc. (NASDAQ:BTSG) Receives Average Rating of "Buy" from Analysts

Key Points

• Analysts maintain a bullish outlook: All 20 covering brokerages rate BrightSpring Health Services “Buy” or “Strong Buy,” with an average 12-month price target of $70.71 versus the reported share price of $62.43.
• Quarterly results exceeded expectations: BrightSpring reported adjusted EPS of $0.45, topping the $0.40 consensus estimate, while revenue rose 23% year over year to $3.87 billion, above the $3.66 billion forecast.
• Insiders recently sold shares: Two insiders sold a combined 165,000 shares for approximately $9.7 million, while company insiders retain 2.8% ownership; several institutional investors also increased or initiated positions.

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Get Free Report) have been given an average recommendation of "Buy" by the twenty brokerages that are presently covering the company, Marketbeat.com reports. Eighteen analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $70.7059.

A number of brokerages have issued reports on BTSG. Wells Fargo & Company lifted their target price on shares of BrightSpring Health Services from $61.00 to $78.00 and gave the company an "overweight" rating in a research note on Monday, July 13th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of BrightSpring Health Services in a research note on Friday, July 31st. Bank of America increased their price objective on BrightSpring Health Services from $66.00 to $77.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. The Goldman Sachs Group initiated coverage on BrightSpring Health Services in a research report on Monday, June 8th. They set a "buy" rating and a $71.00 price objective for the company. Finally, Stephens boosted their target price on BrightSpring Health Services from $53.00 to $64.00 and gave the company an "overweight" rating in a research note on Monday, May 4th.

BrightSpring Health Services Price Performance

NASDAQ BTSG opened at $62.43 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.59 and a quick ratio of 1.22. The firm has a market capitalization of $12.35 billion, a price-to-earnings ratio of 37.61, a price-to-earnings-growth ratio of 0.74 and a beta of 1.88. The company has a 50 day simple moving average of $66.52 and a 200-day simple moving average of $52.66. BrightSpring Health Services has a 52-week low of $20.51 and a 52-week high of $73.75.

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

Insider Transactions at BrightSpring Health Services

In other news, insider Lisa A. Nalley sold 35,000 shares of BrightSpring Health Services stock in a transaction dated Friday, June 5th. The stock was 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 directly owned 131,948 shares in the company, valued at $7,751,945. The trade was a 20.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jon B. Rousseau sold 130,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider directly 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. 2.80% of the stock is owned by company insiders.

Institutional Trading of BrightSpring Health Services

Several large investors have recently added to or reduced their stakes in the business. New York State Teachers Retirement System bought a new position in shares of BrightSpring Health Services in the fourth quarter valued at approximately $1,311,000. State of Alaska Department of Revenue boosted its holdings in shares of BrightSpring Health Services by 540.6% during the 4th quarter. State of Alaska Department of Revenue now owns 68,973 shares of the company's stock worth $2,582,000 after buying an additional 58,206 shares during the period. Westover Capital Advisors LLC bought a new stake in shares of BrightSpring Health Services during the 4th quarter worth $697,000. Wealthstar Advisors LLC acquired a new position in BrightSpring Health Services in the 1st quarter valued at $1,525,000. Finally, Roberts Foundation grew its stake in BrightSpring Health Services by 59.7% in the 4th quarter. Roberts Foundation now owns 82,025 shares of the company's stock valued at $3,072,000 after buying an additional 30,661 shares during the last quarter.

About BrightSpring Health Services

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.

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