BrightSpring Health Services (NASDAQ:BTSG) Reaches New 12-Month High - Still a Buy?

Key Points

• BrightSpring's stock hit a new 52-week high at $54.77, and multiple firms raised price targets (e.g., BTIG to $65, KeyCorp to $60), leaving a MarketBeat consensus rating of Buy with a $56.29 target.
• The company posted a quarter-beating quarter with EPS of $0.39 versus $0.29 expected and revenue of $3.61B (+25.6% YoY), while analysts forecast FY EPS of 1.61 and the shares trade at a P/E of 38.8 with a PEG of 0.74.
• Insiders sold 285,000 shares (~$11.7M) over the past three months, but large institutions such as Vanguard, State Street and The Manufacturers Life substantially increased their holdings, signaling mixed insider activity amid heavy institutional accumulation.

BrightSpring Health Services, Inc. (NASDAQ:BTSG - Get Free Report)'s share price reached a new 52-week high on Friday . The stock traded as high as $54.77 and last traded at $54.1010, with a volume of 655008 shares. The stock had previously closed at $52.94.

Analysts Set New Price Targets

Several equities research analysts have weighed in on BTSG shares. BTIG Research increased their target price on shares of BrightSpring Health Services from $55.00 to $65.00 and gave the stock a "buy" rating in a report on Monday. Weiss Ratings raised BrightSpring Health Services from a "hold (c)" rating to a "buy (b-)" rating in a research note on Monday. KeyCorp increased their price target on BrightSpring Health Services from $55.00 to $60.00 and gave the stock an "overweight" rating in a report on Monday. UBS Group raised their price target on BrightSpring Health Services from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday, March 18th. Finally, Mizuho boosted their price objective on BrightSpring Health Services from $52.00 to $61.00 and gave the company an "outperform" rating in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $56.29.

BrightSpring Health Services Stock Up 3.3%

The company has a debt-to-equity ratio of 1.24, a current ratio of 1.74 and a quick ratio of 1.38. The company has a market capitalization of $10.61 billion, a price-to-earnings ratio of 38.80, a PEG ratio of 0.74 and a beta of 1.71. The firm has a 50-day moving average price of $44.21 and a two-hundred day moving average price of $39.32.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last announced its earnings results on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.10. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter last year, the firm earned $0.14 EPS. BrightSpring Health Services's revenue for the quarter was up 25.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that BrightSpring Health Services, Inc. will post 1.61 earnings per share for the current fiscal year.

Insider Transactions 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 on 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 completion of the sale, the insider owned 1,023,880 shares of the company's stock, valued at $42,132,662. This trade represents a 17.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jennifer A. Phipps sold 35,000 shares of the company'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 transaction, the chief financial officer owned 196,840 shares in the company, valued at approximately $8,099,966. This represents a 15.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 285,000 shares of company stock worth $11,727,750. 2.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of BrightSpring Health Services by 30.5% during the 4th quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company's stock valued at $469,385,000 after purchasing an additional 2,928,953 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of BrightSpring Health Services by 936.4% during the second quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company's stock worth $53,705,000 after buying an additional 2,056,920 shares during the last quarter. State Street Corp grew its stake in shares of BrightSpring Health Services by 99.5% during the fourth quarter. State Street Corp now owns 4,033,149 shares of the company's stock worth $151,041,000 after buying an additional 2,011,095 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of BrightSpring Health Services by 855.4% during the second quarter. Jane Street Group LLC now owns 2,076,730 shares of the company's stock worth $48,990,000 after buying an additional 1,859,369 shares in the last quarter. Finally, 8 Knots Management LLC bought a new position in shares of BrightSpring Health Services in the 3rd quarter valued at $51,244,000.

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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