BrightSpring Health Services (NASDAQ:BTSG) Trading Up 7.4% After Analyst Upgrade

Key Points

• BrightSpring Health Services' stock (NASDAQ:BTSG) saw a significant increase of 7.4% after Bank of America raised its price target from $27.50 to $31.00, maintaining a buy rating on the stock.
• The company recently reported a quarterly earnings per share (EPS) of $0.22, surpassing analyst estimates and showing a 15.3% year-over-year revenue growth.
• Insider selling has been notable, with over 15 million shares sold in the last three months, indicating a shift in ownership among major stakeholders.

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Get Free Report) shot up 7.4% on Wednesday after Bank of America raised their price target on the stock from $27.50 to $31.00. Bank of America currently has a buy rating on the stock. BrightSpring Health Services traded as high as $28.12 and last traded at $28.19. 2,277,714 shares traded hands during mid-day trading, an increase of 9% from the average session volume of 2,088,511 shares. The stock had previously closed at $26.24.

A number of other research analysts also recently issued reports on BTSG. TD Cowen started coverage on BrightSpring Health Services in a report on Monday, June 23rd. They issued a "buy" rating and a $37.00 price target on the stock. Cowen reaffirmed a "buy" rating on shares of BrightSpring Health Services in a research report on Monday, August 4th. Wall Street Zen lowered BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. Deutsche Bank Aktiengesellschaft set a $30.00 target price on shares of BrightSpring Health Services and gave the stock a "buy" rating in a report on Monday. Finally, Wells Fargo & Company raised their price target on shares of BrightSpring Health Services from $25.00 to $27.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $27.10.

Insider Buying and Selling

In other BrightSpring Health Services news, major shareholder Phoenix Aggregator L.P. Kkr sold 2,100,000 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $21.15, for a total value of $44,415,000.00. Following the completion of the sale, the insider directly owned 77,096,337 shares in the company, valued at approximately $1,630,587,527.55. This trade represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company 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 modified their holdings of the stock. Northern Trust Corp boosted its stake in BrightSpring Health Services by 12.6% in the 4th quarter. Northern Trust Corp now owns 535,334 shares of the company's stock worth $9,117,000 after purchasing an additional 60,111 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new position in BrightSpring Health Services during the 4th quarter valued at approximately $2,337,000. Deutsche Bank AG raised its holdings in shares of BrightSpring Health Services by 80.9% in the fourth quarter. Deutsche Bank AG now owns 57,713 shares of the company's stock worth $983,000 after buying an additional 25,810 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of BrightSpring Health Services during the fourth quarter worth $390,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of BrightSpring Health Services by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,649 shares of the company's stock valued at $522,000 after buying an additional 1,032 shares during the last quarter.

BrightSpring Health Services Stock Down 5.5%

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 business's fifty day moving average price is $22.28 and its two-hundred day moving average price is $20.86. The stock has a market capitalization of $4.69 billion, a PE ratio of 85.33, a price-to-earnings-growth ratio of 0.47 and a beta of 2.27.

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

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.