BrightSpring Health Services (NASDAQ:BTSG) Rating Lowered to "Buy" at Wall Street Zen

Key Points

• BrightSpring Health Services was downgraded by Wall Street Zen from “strong-buy” to “buy”, though the broader analyst view remains positive with an average Buy rating and an average price target of $63.67.
• The company recently reported strong quarterly results, including EPS of $0.39 versus the $0.29 estimate and revenue of $3.61 billion versus $3.39 billion expected; revenue also rose 25.6% year over year.
• Several insiders sold shares in early June, including Jon B. Rousseau and Lisa A. Nalley, while institutional investors such as AQR, Millennium, and UBS AM also adjusted their holdings in the stock.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report released on Saturday.

Other equities research analysts have also recently issued research reports about the company. KeyCorp raised their target price on BrightSpring Health Services from $55.00 to $60.00 and gave the stock an "overweight" rating in a research note on Monday, May 4th. The Goldman Sachs Group initiated coverage on BrightSpring Health Services in a research note on Monday, June 8th. They issued a "buy" rating and a $71.00 price target on the stock. Leerink Partners restated an "outperform" rating and set a $49.00 price target on shares of BrightSpring Health Services in a report on Wednesday, March 18th. BMO Capital Markets set a $70.00 price objective on shares of BrightSpring Health Services in a research report on Thursday, May 21st. Finally, UBS Group lifted their price objective on shares of BrightSpring Health Services from $53.00 to $55.00 and gave the company a "buy" rating in a research note on Wednesday, March 18th. Two equities research analysts have rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company. According to data from MarketBeat.com, BrightSpring Health Services presently has an average rating of "Buy" and an average price target of $63.67.

BrightSpring Health Services Stock Performance

Shares of BTSG opened at $69.03 on Friday. The company has a current ratio of 1.74, a quick ratio of 1.38 and a debt-to-equity ratio of 1.24. The firm's fifty day simple moving average is $59.74 and its two-hundred day simple moving average is $47.34. BrightSpring Health Services has a 12 month low of $19.01 and a 12 month high of $70.91. The stock has a market capitalization of $13.62 billion, a P/E ratio of 48.96, a price-to-earnings-growth ratio of 0.89 and a beta of 1.79.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.10. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates 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 company posted $0.14 EPS. As a group, analysts predict that BrightSpring Health Services will post 1.67 EPS for the current year.

Insiders Place Their Bets

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 130,000 shares of the company's stock in a transaction on Friday, June 5th. The shares were 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 in the company, valued at approximately $70,177,051.25. This represents a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Lisa A. Nalley sold 35,000 shares of the firm's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $2,056,250.00. Following the completion of the transaction, the insider directly owned 131,948 shares in the company, valued at $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.80% of the company's stock.

Hedge Funds Weigh In On BrightSpring Health Services

Large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC acquired a new position in BrightSpring Health Services during the 1st quarter valued at about $276,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of BrightSpring Health Services by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,429 shares of the company's stock valued at $587,000 after purchasing an additional 1,780 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of BrightSpring Health Services by 0.3% in the first quarter. Millennium Management LLC now owns 577,885 shares of the company's stock valued at $10,454,000 after purchasing an additional 1,967 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of BrightSpring Health Services by 11.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,280 shares of the company's stock valued at $2,664,000 after purchasing an additional 14,586 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new position in shares of BrightSpring Health Services during the second quarter valued at approximately $351,000.

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.

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