BrightSpring Health Services (NASDAQ:BTSG) Shares Gap Up Following Strong Earnings

BrightSpring Health Services, Inc. (NASDAQ:BTSG - Get Free Report) shares gapped up prior to trading 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 traded.

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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On BrightSpring Health Services

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC increased its stake in BrightSpring Health Services by 21.6% in the 4th quarter. FMR LLC now owns 22,102,490 shares of the company's stock worth $376,405,000 after acquiring an additional 3,933,303 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new position in shares of BrightSpring Health Services in the fourth quarter worth approximately $26,958,000. Norges Bank purchased a new stake in BrightSpring Health Services in the fourth quarter valued at approximately $26,065,000. Raymond James Financial Inc. bought a new stake in BrightSpring Health Services during the fourth quarter valued at approximately $18,257,000. Finally, Sea Cliff Partners Management LP increased its holdings in shares of BrightSpring Health Services by 49.1% in the 4th quarter. Sea Cliff Partners Management LP now owns 1,735,150 shares of the company's stock worth $29,550,000 after buying an additional 571,437 shares during the last quarter.

BrightSpring Health Services Stock Performance

The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.97 and a current ratio of 1.35. The stock has a market cap of $3.93 billion, a PE ratio of -86.35 and a beta of 2.06. The company's 50-day moving average price is $17.79 and its two-hundred day moving average price is $18.61.

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.