BrightSpring Health Services (NASDAQ:BTSG) Trading 7.4% Higher 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.

BrightSpring Health Services, Inc. (NASDAQ:BTSG - Get Free Report) shares traded up 7.4% during mid-day trading 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 were traded 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.

Several other equities research analysts have also commented on BTSG. Wall Street Zen lowered shares of BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Cowen restated a "buy" rating on shares of BrightSpring Health Services in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft set a $30.00 target price on shares of BrightSpring Health Services and gave the stock a "buy" rating in a research report on Monday, September 8th. Wells Fargo & Company boosted their target price on shares of BrightSpring Health Services from $25.00 to $27.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. Finally, TD Cowen initiated coverage on shares of BrightSpring Health Services in a research report on Monday, June 23rd. They issued a "buy" rating and a $37.00 price objective on the stock. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.10.

Insiders Place Their Bets

In other BrightSpring Health Services news, major shareholder Phoenix Aggregator L.P. Kkr sold 2,100,000 shares of the stock in a transaction on 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 sale, the insider directly owned 77,096,337 shares of the company's stock, valued at $1,630,587,527.55. This trade represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BrightSpring Health Services

A number of hedge funds and other institutional investors have recently modified their holdings of BTSG. EverSource Wealth Advisors LLC purchased a new stake in shares of BrightSpring Health Services in the second quarter worth approximately $43,000. Sandia Investment Management LP bought a new stake in shares of BrightSpring Health Services during the second quarter valued at approximately $118,000. Penserra Capital Management LLC bought a new stake in shares of BrightSpring Health Services during the second quarter valued at approximately $139,000. PNC Financial Services Group Inc. increased its position in shares of BrightSpring Health Services by 1,532.2% during the second quarter. PNC Financial Services Group Inc. now owns 8,161 shares of the company's stock valued at $193,000 after purchasing an additional 7,661 shares during the period. Finally, IFP Advisors Inc boosted its stake in BrightSpring Health Services by 273,666.7% in the 1st quarter. IFP Advisors Inc now owns 8,213 shares of the company's stock valued at $149,000 after buying an additional 8,210 shares in the last quarter.

BrightSpring Health Services Trading Up 1.2%

The company has a 50 day moving average of $22.28 and a 200 day moving average of $20.89. The company has a current ratio of 1.76, a quick ratio of 1.34 and a debt-to-equity ratio of 1.43. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 86.42, a price-to-earnings-growth ratio of 0.44 and a beta of 2.26.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. The business had revenue of $3.15 billion for 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%.BrightSpring Health Services's quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 EPS. BrightSpring Health Services has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that BrightSpring Health Services, Inc. will post 0.59 EPS for the current 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.