BrightSpring Health Services (NASDAQ:BTSG) Hits New 12-Month High - Here's Why

Key Points

• Shares of BrightSpring Health Services reached a new 52-week high intraday at $48.68 and are trading up about 1.5%, backed by widespread analyst support with a consensus Buy rating and a $45.50 average price target after recent upgrades from Morgan Stanley and UBS.
• The company reported revenue of $3.55 billion (up 29.3% year‑over‑year), beating estimates, while EPS of $0.33 narrowly missed consensus by $0.01; BrightSpring has a market cap of $9.44 billion and a P/E of 55.55.
• Insiders sold 285,000 shares worth about $11.7 million over the last quarter (insiders now own 2.8%), even as large institutions like Vanguard, State Street and Manulife significantly increased their stakes.

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $48.68 and last traded at $47.9590, with a volume of 197531 shares trading hands. The stock had previously closed at $48.16.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. TD Cowen restated a "buy" rating on shares of BrightSpring Health Services in a report on Monday, March 2nd. Morgan Stanley lifted their price objective on BrightSpring Health Services from $40.00 to $48.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 4th. UBS Group increased their target price on shares of BrightSpring Health Services from $53.00 to $55.00 and gave the company a "buy" rating in a research report on Wednesday, March 18th. Weiss Ratings restated a "hold (c)" rating on shares of BrightSpring Health Services in a research report on Monday, December 29th. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $46.00 price objective on shares of BrightSpring Health Services in a research report on Friday, January 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $45.50.

BrightSpring Health Services Trading Up 1.5%

The company has a current ratio of 1.57, a quick ratio of 1.12 and a debt-to-equity ratio of 1.32. The firm's 50-day moving average price is $42.84 and its 200 day moving average price is $38.32. The company has a market cap of $9.44 billion, a price-to-earnings ratio of 55.55, a P/E/G ratio of 0.63 and a beta of 2.03.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last posted its quarterly earnings results on Friday, February 27th. The company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.01). BrightSpring Health Services had a return on equity of 12.66% and a net margin of 1.48%.The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the previous year, the business posted $0.11 earnings per share. The company's revenue for the quarter was up 29.3% compared to the same quarter last year. As a group, equities analysts expect that BrightSpring Health Services, Inc. will post 1.61 EPS for the current year.

Insiders Place Their Bets

In other BrightSpring Health Services news, CFO Jennifer A. Phipps sold 35,000 shares of the business's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total transaction of $1,440,250.00. Following the completion of the sale, the chief financial officer owned 196,840 shares in the company, valued at approximately $8,099,966. The trade was a 15.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Lisa A. Nalley sold 30,000 shares of the firm's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total transaction of $1,234,500.00. Following the completion of the transaction, the insider directly owned 110,594 shares in the company, valued at $4,550,943.10. This trade represents a 21.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 285,000 shares of company stock worth $11,727,750. Corporate insiders own 2.80% of the company's stock.

Hedge Funds Weigh In On BrightSpring Health Services

Several large investors have recently added to or reduced their stakes in BTSG. Vanguard Group Inc. raised its stake in shares of BrightSpring Health Services by 30.5% in the fourth quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company's stock worth $469,385,000 after purchasing an additional 2,928,953 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in BrightSpring Health Services by 936.4% during 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 acquiring an additional 2,056,920 shares in the last quarter. State Street Corp grew 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 worth $151,041,000 after acquiring an additional 2,011,095 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of BrightSpring Health Services by 855.4% in the second 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 during the last quarter. Finally, 8 Knots Management LLC bought a new position in shares of BrightSpring Health Services during the third quarter valued at about $51,244,000.

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.

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