BrightSpring Health Services (NASDAQ:BTSG) Raised to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded BrightSpring Health Services to “strong buy” from “hold.” Analysts overall maintain a “buy” consensus, with an average price target of $70.71.
• BrightSpring reported quarterly EPS of $0.45, beating estimates of $0.40, while revenue reached $3.87 billion and increased 23% year over year.
• BTSG shares opened at $63.02, up 0.4%, with the stock trading between $19.51 and $73.75 over the past year. Two insiders recently sold shares, while several institutional investors established or increased positions.

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

Several other research analysts have also recently weighed in on BTSG. BTIG Research reaffirmed a "buy" rating and set a $90.00 price objective on shares of BrightSpring Health Services in a research report on Monday. BMO Capital Markets set a $70.00 target price on BrightSpring Health Services in a research report on Thursday, May 21st. Wells Fargo & Company boosted their target price on BrightSpring Health Services from $61.00 to $78.00 and gave the company an "overweight" rating in a research note on Monday, July 13th. Stephens upped their price target on BrightSpring Health Services from $53.00 to $64.00 and gave the stock an "overweight" rating in a research report on Monday, May 4th. Finally, Raymond James Financial initiated coverage on shares of BrightSpring Health Services in a research note on Thursday, July 9th. They set an "outperform" rating and a $80.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating and eighteen have given a Buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $70.71.

BrightSpring Health Services Trading Up 0.4%

Shares of NASDAQ:BTSG opened at $63.02 on Tuesday. BrightSpring Health Services has a 12 month low of $19.51 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's fifty day simple moving average is $66.51 and its 200 day simple moving average is $52.44. The firm has a market cap of $12.47 billion, a price-to-earnings ratio of 37.96, a PEG ratio of 0.77 and a beta of 1.88.

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

Insider Activity

In other BrightSpring Health Services news, 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 transaction, the insider owned 1,194,503 shares of the company's stock, valued at $70,177,051.25. The trade was a 9.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Lisa A. Nalley sold 35,000 shares of the company'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 value of $2,056,250.00. Following the sale, the insider owned 131,948 shares in the company, valued at approximately $7,751,945. This represents a 20.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.80% of the company's stock.

Institutional Trading of BrightSpring Health Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ausbil Investment Management Ltd acquired a new stake in BrightSpring Health Services in the second quarter valued at $2,005,000. Handelsbanken Fonder AB raised its holdings in shares of BrightSpring Health Services by 40.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 36,900 shares of the company's stock valued at $2,573,000 after purchasing an additional 10,700 shares during the period. MRA Advisory Group acquired a new stake in BrightSpring Health Services in the 2nd quarter valued at about $889,000. GAMMA Investing LLC grew its holdings in BrightSpring Health Services by 27.9% during the second quarter. GAMMA Investing LLC now owns 3,721 shares of the company's stock worth $260,000 after purchasing an additional 811 shares during the period. Finally, Avior Wealth Management LLC acquired a new position in BrightSpring Health Services during the second quarter worth approximately $201,000.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source