BrightSpring Health Services (NASDAQ:BTSG) Reaches New 12-Month High - What's Next?

Key Points

• BrightSpring Health Services hit a new 52-week high, trading as high as $60.48 after rising about 3.1% on the day.
• Recent earnings were strong: the company reported $0.39 EPS versus the $0.29 estimate and revenue of $3.61 billion, topping forecasts and up 25.6% year over year.
• Wall Street sentiment remains positive, with multiple firms raising price targets to $65 and the stock carrying a consensus Buy rating, though insiders have sold shares in recent months.

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $60.48 and last traded at $60.32, with a volume of 2050206 shares. The stock had previously closed at $58.50.

Analysts Set New Price Targets

A number of brokerages have issued reports on BTSG. Leerink Partners reiterated an "outperform" rating and set a $49.00 price target on shares of BrightSpring Health Services in a research report on Wednesday, March 18th. BTIG Research increased their price target on BrightSpring Health Services from $55.00 to $65.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Wall Street Zen downgraded BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research report on Saturday. TD Cowen increased their price target on BrightSpring Health Services from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $60.00 price target on shares of BrightSpring Health Services in a research report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the stock. According to MarketBeat, BrightSpring Health Services currently has a consensus rating of "Buy" and an average target price of $57.00.

BrightSpring Health Services Stock Up 3.1%

The stock has a market capitalization of $11.70 billion, a price-to-earnings ratio of 42.78, a price-to-earnings-growth ratio of 0.77 and a beta of 1.71. The business's 50-day moving average is $48.48 and its two-hundred day moving average is $41.55. The company has a quick ratio of 1.38, a current ratio of 1.74 and a debt-to-equity ratio of 1.24.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.10. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period in the previous year, the business posted $0.14 earnings per share. BrightSpring Health Services's quarterly revenue was up 25.6% on a year-over-year basis. Equities analysts anticipate that BrightSpring Health Services, Inc. will post 1.64 EPS for the current year.

Insider Buying and Selling

In related news, insider Jon B. Rousseau sold 220,000 shares of BrightSpring Health Services stock in a transaction that occurred 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 transaction, the insider owned 1,023,880 shares in the company, valued at approximately $42,132,662. This trade represents a 17.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jennifer A. Phipps sold 35,000 shares of BrightSpring Health Services stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total value of $1,440,250.00. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 285,000 shares of company stock worth $11,727,750. 2.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BrightSpring Health Services

A number of institutional investors have recently added to or reduced their stakes in the stock. CWM LLC lifted its position in BrightSpring Health Services by 17.5% during the fourth quarter. CWM LLC now owns 1,874 shares of the company's stock worth $70,000 after buying an additional 279 shares in the last quarter. State of Wyoming lifted its position in BrightSpring Health Services by 4.5% during the first quarter. State of Wyoming now owns 7,776 shares of the company's stock worth $331,000 after buying an additional 336 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in BrightSpring Health Services by 17.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,826 shares of the company's stock worth $143,000 after buying an additional 565 shares in the last quarter. Moran Wealth Management LLC raised its position in BrightSpring Health Services by 9.0% in the first quarter. Moran Wealth Management LLC now owns 6,925 shares of the company's stock valued at $295,000 after purchasing an additional 572 shares during the period. Finally, GHP Investment Advisors Inc. purchased a new stake in BrightSpring Health Services in the first quarter valued at $31,000.

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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