BrightSpring Health Services (NASDAQ:BTSG) Hits New 52-Week High - Time to Buy?

Key Points

• BrightSpring Health Services shares reached a new 52-week high of $25.65, reflecting a rise from its previous close of $24.13 with significant trading volume.
• Analysts have shown confidence in the stock, with ten analysts rating it as a Buy and one as a Hold, along with an average price target of $25.67.
• Recent earnings showed a 15.3% year-over-year revenue increase to $3.15 billion, alongside an earnings per share of $0.22, exceeding analysts' expectations.

BrightSpring Health Services, Inc. (NASDAQ:BTSG - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $25.58 and last traded at $25.65, with a volume of 1432169 shares trading hands. The stock had previously closed at $24.13.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BTSG. TD Cowen began coverage on shares of BrightSpring Health Services in a research note on Monday, June 23rd. They issued a "buy" rating and a $37.00 price target on the stock. Deutsche Bank Aktiengesellschaft set a $30.00 price target on shares of BrightSpring Health Services and gave the company a "buy" rating in a research note on Monday. Bank of America raised their price objective on shares of BrightSpring Health Services from $27.50 to $31.00 and gave the company a "buy" rating in a research note on Wednesday. Wall Street Zen lowered shares of BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Cowen reiterated a "buy" rating on shares of BrightSpring Health Services in a research note on Monday, August 4th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $27.10.

BrightSpring Health Services Stock Down 5.5%

The stock has a market capitalization of $4.69 billion, a P/E ratio of 85.33, a PEG ratio of 0.47 and a beta of 2.27. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.76 and a quick ratio of 1.34. The stock's fifty day moving average is $22.28 and its two-hundred day moving average is $20.86.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.03. The firm had revenue of $3.15 billion during the quarter, compared to analysts' expectations of $2.99 billion. BrightSpring Health Services had a net margin of 0.55% and a return on equity of 9.29%. The firm's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the firm posted $0.10 earnings per share. BrightSpring Health Services has set its FY 2025 guidance at EPS. As a group, research analysts predict that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Phoenix Aggregator L.P. Kkr sold 2,100,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $21.15, for a total value of $44,415,000.00. Following the completion of the transaction, the insider owned 77,096,337 shares of the company's stock, valued at approximately $1,630,587,527.55. This trade represents a 2.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.40% of the company's stock.

Hedge Funds Weigh In On BrightSpring Health Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC acquired a new position in BrightSpring Health Services in the 2nd quarter worth approximately $43,000. Sandia Investment Management LP acquired a new stake in shares of BrightSpring Health Services during the 2nd quarter valued at $118,000. Penserra Capital Management LLC acquired a new stake in shares of BrightSpring Health Services during the 2nd quarter valued at $139,000. IFP Advisors Inc boosted its stake in shares of BrightSpring Health Services by 273,666.7% during the 1st quarter. IFP Advisors Inc now owns 8,213 shares of the company's stock valued at $149,000 after buying an additional 8,210 shares during the period. Finally, Highland Capital Management LLC acquired a new stake in shares of BrightSpring Health Services during the 1st quarter valued at $181,000.

BrightSpring Health Services Company Profile

BrightSpring Health Services, Inc operates a home and community-based healthcare services platform in the United States. The company's platform focuses on delivering pharmacy and provider services, including clinical and supportive care in home and community settings to Medicare, Medicaid, and insured populations.