BrightSpring Health Services (NASDAQ:BTSG) Reaches New 52-Week High - What's Next?

Key Points

• BrightSpring Health Services hit a new 52-week high, trading as high as $72.52, reflecting strong recent momentum in the stock.
• Analysts remain generally bullish, with a consensus Buy rating and an average price target of $66.56, though Zacks recently downgraded the shares to Hold.
• The company’s latest earnings beat expectations, posting $0.39 EPS on revenue of $3.61 billion, while major funds like Vanguard and State Street have significantly increased their holdings.

BrightSpring Health Services, Inc. (NASDAQ:BTSG - Get Free Report) shares reached a new 52-week high during trading on Friday . The stock traded as high as $72.52 and last traded at $71.4810, with a volume of 4796 shares trading hands. The stock had previously closed at $71.58.

Analysts Set New Price Targets

Several research analysts have recently weighed in on BTSG shares. Morgan Stanley increased their price objective on shares of BrightSpring Health Services from $62.00 to $71.00 and gave the stock an "overweight" rating in a report on Tuesday, June 2nd. Zacks Research downgraded shares of BrightSpring Health Services from a "strong-buy" rating to a "hold" rating in a report on Monday. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $60.00 price target on shares of BrightSpring Health Services in a research report on Monday, May 4th. Mizuho increased their price target on shares of BrightSpring Health Services from $52.00 to $61.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 5th. Finally, UBS Group lifted their price target on shares of BrightSpring Health Services from $63.00 to $85.00 and gave the company a "buy" rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $66.56.

BrightSpring Health Services Price Performance

The stock has a market cap of $14.06 billion, a PE ratio of 50.70, a price-to-earnings-growth ratio of 0.96 and a beta of 1.79. The company has a quick ratio of 1.38, a current ratio of 1.74 and a debt-to-equity ratio of 1.24. The company's fifty day moving average is $61.57 and its 200 day moving average is $48.38.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the previous year, the firm earned $0.14 earnings per share. BrightSpring Health Services's revenue for the quarter was up 25.6% on a year-over-year basis. As a group, sell-side analysts anticipate that BrightSpring Health Services, Inc. will post 1.66 earnings per share for the current fiscal year.

Insider Buying and Selling at BrightSpring Health Services

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

Hedge Funds Weigh In On BrightSpring Health Services

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in BrightSpring Health Services by 30.5% in the fourth quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company's stock valued at $469,385,000 after acquiring an additional 2,928,953 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position 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 purchasing an additional 2,056,920 shares in the last quarter. State Street Corp lifted its position 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 purchasing an additional 2,011,095 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of BrightSpring Health Services by 855.4% in the second quarter. Jane Street Group LLC now owns 2,076,730 shares of the company's stock valued at $48,990,000 after purchasing an additional 1,859,369 shares during the period. Finally, 8 Knots Management LLC purchased a new position in shares of BrightSpring Health Services in the third quarter valued at $51,244,000.

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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