BrightSpring Health Services (NASDAQ:BTSG) Cut to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded BrightSpring Health Services from strong-buy to hold, even as the broader analyst view remains positive with a consensus rating of Buy and an average price target of $63.67.
• BrightSpring’s stock was down 0.6% and recently traded near its 52-week high of $72.06, reflecting a strong run after opening at $70.17. The company also carries a market cap of about $13.84 billion.
• The company posted a solid quarterly beat, reporting $0.39 EPS versus the expected $0.29 and $3.61 billion in revenue, up 25.6% from a year earlier. However, insiders recently sold shares, including CEO Jon B. Rousseau and insider Lisa A. Nalley.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research analysts have also weighed in on BTSG. Wall Street Zen lowered BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a report on Saturday. Weiss Ratings raised shares of BrightSpring Health Services from a "hold (c)" rating to a "buy (b-)" rating in a research note on Monday, May 4th. 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. KeyCorp increased their target price on shares of BrightSpring Health Services from $55.00 to $60.00 and gave the stock an "overweight" rating in a research note on Monday, May 4th. Finally, BTIG Research raised their price target on shares of BrightSpring Health Services from $65.00 to $90.00 and gave the company a "buy" rating in a report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, BrightSpring Health Services presently has a consensus rating of "Buy" and an average price target of $63.67.

BrightSpring Health Services Trading Down 0.6%

NASDAQ:BTSG opened at $70.17 on Monday. BrightSpring Health Services has a 1 year low of $19.01 and a 1 year high of $72.06. The stock's fifty day moving average price is $60.64 and its two-hundred day moving average price is $47.90. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.74 and a quick ratio of 1.38. The company has a market cap of $13.84 billion, a P/E ratio of 49.77, a P/E/G ratio of 0.97 and a beta of 1.79.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.10. The company had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $3.39 billion. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The firm's quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 earnings per share. As a group, analysts expect that BrightSpring Health Services will post 1.64 EPS for the current year.

Insider Activity at BrightSpring Health Services

In related news, insider Lisa A. Nalley sold 35,000 shares of the firm'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 $2,056,250.00. Following the sale, the insider directly owned 131,948 shares of the company's stock, valued at $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jon B. Rousseau sold 130,000 shares of the business'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 completion of the transaction, the insider directly owned 1,194,503 shares of the company's stock, valued at approximately $70,177,051.25. This represents a 9.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Iron Triangle Partners LP lifted its position in BrightSpring Health Services by 3.2% in the 3rd quarter. Iron Triangle Partners LP now owns 1,238,520 shares of the company's stock worth $36,611,000 after buying an additional 38,520 shares during the last quarter. 8 Knots Management LLC bought a new position in BrightSpring Health Services during the third quarter valued at approximately $51,244,000. SG Americas Securities LLC raised its stake in shares of BrightSpring Health Services by 1,221.9% during the fourth quarter. SG Americas Securities LLC now owns 183,103 shares of the company's stock worth $6,857,000 after acquiring an additional 169,251 shares in the last quarter. Brevan Howard Capital Management LP lifted its holdings in shares of BrightSpring Health Services by 808.4% in the 3rd quarter. Brevan Howard Capital Management LP now owns 113,671 shares of the company's stock worth $3,360,000 after acquiring an additional 101,157 shares during the last quarter. Finally, New York State Teachers Retirement System bought a new stake in shares of BrightSpring Health Services in the 4th quarter worth approximately $1,311,000.

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.