BrightSpring Health Services (NASDAQ:BTSG) Reaches New 52-Week High - Still a 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 share price reached a new 52-week high on Monday . The company 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.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Cowen restated a "buy" rating on shares of BrightSpring Health Services in a research note on Monday, August 4th. TD Cowen started coverage on BrightSpring Health Services in a research report on Monday, June 23rd. They set a "buy" rating and a $37.00 target price on the stock. Wells Fargo & Company upped their price objective on BrightSpring Health Services from $25.00 to $27.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. Finally, Wall Street Zen lowered BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, BrightSpring Health Services presently has a consensus rating of "Moderate Buy" and an average price target of $25.67.

BrightSpring Health Services Trading Up 5.4%

The company has a quick ratio of 1.34, a current ratio of 1.76 and a debt-to-equity ratio of 1.43. The firm has a market cap of $4.50 billion, a price-to-earnings ratio of 81.17 and a beta of 2.26. The business has a 50 day moving average price of $21.84 and a 200-day moving average price of $20.62.

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

Insider Buying and Selling

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 531,840 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $21.75, for a total transaction of $11,567,520.00. Following the transaction, the insider owned 1,184,133 shares of the company's stock, valued at $25,754,892.75. This trade represents a 30.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Phoenix Aggregator L.P. Kkr sold 13,288,101 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $21.15, for a total value of $281,043,336.15. Following the transaction, the insider directly owned 79,671,883 shares in the company, valued at approximately $1,685,060,325.45. This represents a 14.29% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,919,941 shares of company stock worth $337,025,856. 3.40% of the stock is currently owned by company insiders.

Institutional Trading of BrightSpring Health Services

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Teacher Retirement System of Texas increased its position in BrightSpring Health Services by 6.8% in the 1st quarter. Teacher Retirement System of Texas now owns 14,650 shares of the company's stock valued at $265,000 after acquiring an additional 932 shares during the period. Swiss National Bank increased its position in BrightSpring Health Services by 0.9% in the 1st quarter. Swiss National Bank now owns 118,100 shares of the company's stock valued at $2,136,000 after acquiring an additional 1,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in BrightSpring Health Services by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,649 shares of the company's stock valued at $522,000 after acquiring an additional 1,032 shares during the period. EverSource Wealth Advisors LLC acquired a new stake in BrightSpring Health Services in the 2nd quarter valued at approximately $43,000. Finally, Franklin Resources Inc. increased its position in BrightSpring Health Services by 5.6% in the 2nd quarter. Franklin Resources Inc. now owns 36,467 shares of the company's stock valued at $860,000 after acquiring an additional 1,926 shares during the period.

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.

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