BrightSpring Health Services (NASDAQ:BTSG) Shares Gap Up After Better-Than-Expected Earnings

BrightSpring Health Services, Inc. (NASDAQ:BTSG - Get Free Report)'s share price gapped up before the market opened on Friday following a stronger than expected earnings report. The stock had previously closed at $17.90, but opened at $20.36. BrightSpring Health Services shares last traded at $19.82, with a volume of 696,576 shares trading hands.

The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.10. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.74 billion. BrightSpring Health Services had a positive return on equity of 4.16% and a negative net margin of 0.38%. The company's revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.12 earnings per share.

Analysts Set New Price Targets

Several equities analysts have recently commented on BTSG shares. UBS Group increased their target price on BrightSpring Health Services from $22.00 to $30.00 and gave the company a "buy" rating in a research note on Wednesday, January 29th. Mizuho set a $26.00 price objective on shares of BrightSpring Health Services in a report on Monday. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, BrightSpring Health Services has a consensus rating of "Moderate Buy" and a consensus price target of $22.33.

Hedge Funds Weigh In On BrightSpring Health Services

A number of hedge funds and other institutional investors have recently bought and sold shares of BTSG. JPMorgan Chase & Co. raised its position in shares of BrightSpring Health Services by 275.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 163,618 shares of the company's stock worth $2,402,000 after purchasing an additional 120,005 shares during the period. Legato Capital Management LLC lifted its stake in BrightSpring Health Services by 40.0% in the fourth quarter. Legato Capital Management LLC now owns 66,910 shares of the company's stock valued at $1,139,000 after buying an additional 19,120 shares during the last quarter. SG Americas Securities LLC lifted its stake in BrightSpring Health Services by 50.9% in the fourth quarter. SG Americas Securities LLC now owns 37,000 shares of the company's stock valued at $630,000 after buying an additional 12,486 shares during the last quarter. Barclays PLC boosted its holdings in shares of BrightSpring Health Services by 22.2% during the third quarter. Barclays PLC now owns 393,725 shares of the company's stock valued at $5,780,000 after acquiring an additional 71,633 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of BrightSpring Health Services during the fourth quarter worth about $18,257,000.

BrightSpring Health Services Stock Performance

The company has a current ratio of 1.35, a quick ratio of 0.97 and a debt-to-equity ratio of 1.63. The company's 50-day moving average is $17.66 and its two-hundred day moving average is $18.55. The stock has a market capitalization of $3.82 billion, a P/E ratio of -83.96 and a beta of 2.06.

About BrightSpring Health Services

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.