BrightSpring Health Services (NASDAQ:BTSG) Hits New 1-Year High - Time to Buy?

Key Points

• BrightSpring Health Services hit a new 52-week high, trading as high as $59.30, reflecting strong recent momentum in the stock.
• Analysts remain constructive on the company: several firms raised price targets, and the stock now carries a consensus “Buy” rating with an average target price of $57.00.
• The company posted a strong quarterly report, beating EPS and revenue estimates, while revenue rose 25.6% year over year; however, insiders have recently sold shares even as institutions increased holdings.

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $59.30 and last traded at $59.1430, with a volume of 172687 shares changing hands. The stock had previously closed at $58.59.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BTSG shares. UBS Group raised their target price on BrightSpring Health Services from $53.00 to $55.00 and gave the stock a "buy" rating in a report on Wednesday, March 18th. Cantor Fitzgerald set a $49.00 target price on BrightSpring Health Services in a report on Monday, March 2nd. Mizuho raised their target price on BrightSpring Health Services from $52.00 to $61.00 and gave the stock an "outperform" rating in a report on Tuesday, May 5th. Wall Street Zen raised BrightSpring Health Services from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 9th. Finally, Morgan Stanley raised their target price on BrightSpring Health Services from $48.00 to $62.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $57.00.

BrightSpring Health Services Trading Up 1.2%

The company has a quick ratio of 1.38, a current ratio of 1.74 and a debt-to-equity ratio of 1.24. The stock has a fifty day simple moving average of $46.97 and a 200 day simple moving average of $40.82. The firm has a market capitalization of $11.50 billion, a P/E ratio of 41.98, a PEG ratio of 0.74 and a beta of 1.71.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.10. The business had revenue of $3.61 billion for 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 business's quarterly revenue was up 25.6% on a year-over-year basis. During the same period last year, the firm earned $0.14 earnings per share. As a group, research analysts forecast that BrightSpring Health Services, Inc. will post 1.64 EPS for the current year.

Insider Buying and Selling at BrightSpring Health Services

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 220,000 shares of the firm's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total transaction of $9,053,000.00. Following the sale, the insider directly owned 1,023,880 shares of the company's stock, valued at $42,132,662. This trade represents a 17.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lisa A. Nalley sold 30,000 shares of the firm's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total value of $1,234,500.00. Following the sale, the insider directly owned 110,594 shares in the company, valued at approximately $4,550,943.10. This represents a 21.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 285,000 shares of company stock valued at $11,727,750 over the last ninety days. 2.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BrightSpring Health Services

Several institutional investors have recently added to or reduced their stakes in the company. Arete Wealth Advisors LLC purchased a new position in BrightSpring Health Services during the 1st quarter valued at approximately $2,486,000. Bank of America Corp DE raised its holdings in shares of BrightSpring Health Services by 48.7% during the 1st quarter. Bank of America Corp DE now owns 1,534,154 shares of the company's stock worth $65,370,000 after acquiring an additional 502,786 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of BrightSpring Health Services by 452.3% during the 1st quarter. Janus Henderson Group PLC now owns 228,941 shares of the company's stock worth $9,756,000 after acquiring an additional 187,485 shares in the last quarter. Smith Group Asset Management LLC raised its holdings in shares of BrightSpring Health Services by 1.8% during the 1st quarter. Smith Group Asset Management LLC now owns 53,170 shares of the company's stock worth $2,266,000 after acquiring an additional 927 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of BrightSpring Health Services by 23.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,718 shares of the company's stock worth $201,000 after acquiring an additional 892 shares in 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.

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