BrightSpring Health Services (NASDAQ:BTSG) Earns Buy Rating from BTIG Research

Key Points

• BTIG Research reaffirmed its “Buy” rating on BrightSpring Health Services and set a $90 price target, implying approximately 50.7% upside from the stock’s $59.71 opening price.
• Analyst sentiment remains strongly positive: 18 analysts rate the stock “Buy,” one rates it “Strong Buy,” and one has a “Hold” rating, with a consensus price target of $70.12.
• BrightSpring exceeded quarterly expectations, reporting $0.45 in EPS versus the $0.40 consensus and $3.87 billion in revenue, up 23% year over year. Two insiders also sold a combined 165,000 shares in June.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report)'s stock had its "buy" rating restated by BTIG Research in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $90.00 price target on the stock. BTIG Research's price objective points to a potential upside of 50.73% from the stock's current price.

Several other analysts also recently commented on BTSG. Morgan Stanley raised their target price on shares of BrightSpring Health Services from $71.00 to $80.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. Raymond James Financial initiated coverage on shares of BrightSpring Health Services in a report on Thursday, July 9th. They set an "outperform" rating and a $80.00 price objective on the stock. TD Cowen upped their target price on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the stock a "buy" rating in a research note on Thursday, June 18th. Weiss Ratings reissued a "buy (b-)" rating on shares of BrightSpring Health Services in a research note on Friday. Finally, The Goldman Sachs Group initiated coverage on BrightSpring Health Services in a report on Monday, June 8th. They issued a "buy" rating and a $71.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $70.12.

BrightSpring Health Services Price Performance

BTSG opened at $59.71 on Monday. The stock has a market cap of $11.78 billion, a P/E ratio of 35.97, a P/E/G ratio of 0.75 and a beta of 1.88. BrightSpring Health Services has a 12 month low of $19.01 and a 12 month high of $73.75. The company has a quick ratio of 1.22, a current ratio of 1.59 and a debt-to-equity ratio of 1.06. The company has a fifty day simple moving average of $66.37 and a 200 day simple moving average of $51.95.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last posted its earnings results on Friday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $3.66 billion. During the same period in the previous year, the firm earned $0.22 earnings per share. The company's revenue was up 23.0% on a year-over-year basis. On average, research analysts expect that BrightSpring Health Services will post 1.71 EPS for the current year.

Insider Transactions at BrightSpring Health Services

In other news, insider Jon B. Rousseau sold 130,000 shares of the firm's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $7,637,500.00. Following the completion of the transaction, the insider owned 1,194,503 shares in the company, valued at $70,177,051.25. This trade represents a 9.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lisa A. Nalley sold 35,000 shares of BrightSpring Health Services stock in a transaction dated 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 completion of the sale, the insider directly owned 131,948 shares in the company, valued at approximately $7,751,945. This represents a 20.96% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.80% of the company's stock.

Institutional Investors Weigh In On BrightSpring Health Services

Institutional investors and hedge funds have recently made changes to their positions in the stock. GHP Investment Advisors Inc. bought a new position in shares of BrightSpring Health Services in the first quarter valued at $31,000. NBC Securities Inc. acquired a new position in BrightSpring Health Services during the fourth quarter worth $29,000. Salomon & Ludwin LLC bought a new stake in BrightSpring Health Services during the fourth quarter worth $30,000. Meeder Asset Management Inc. bought a new stake in BrightSpring Health Services during the first quarter worth $52,000. Finally, Harbor Investment Advisory LLC acquired a new stake in BrightSpring Health Services in the second quarter valued at $91,000.

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.

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.