BrightSpring Health Services (NASDAQ:BTSG) Stock Price Down 5.8% - Here's Why

Key Points

• BrightSpring Health Services' stock price fell 5.8% to $26.36, with trading volume increasing 37% above average.
• Analysts have set a consensus target price of $27.10 for the stock, with most ratings being a "Buy" from eleven research firms.
• The company reported a 15.3% year-over-year revenue increase of $3.15 billion and exceeded earnings estimates with an EPS of $0.22.

BrightSpring Health Services, Inc. (NASDAQ:BTSG - Get Free Report) dropped 5.8% during mid-day trading on Friday . The stock traded as low as $26.34 and last traded at $26.36. Approximately 2,918,571 shares changed hands during mid-day trading, an increase of 37% from the average daily volume of 2,134,274 shares. The stock had previously closed at $27.99.

Wall Street Analysts Forecast Growth

BTSG has been the topic of a number of research analyst reports. Bank of America increased their price target on shares of BrightSpring Health Services from $27.50 to $31.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. TD Cowen initiated coverage on shares of BrightSpring Health Services in a research note on Monday, June 23rd. They set a "buy" rating and a $37.00 price objective for the company. Wall Street Zen downgraded shares of BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Cowen reaffirmed a "buy" rating on shares of BrightSpring Health Services in a report on Monday, August 4th. Finally, Deutsche Bank Aktiengesellschaft set a $30.00 price objective on shares of BrightSpring Health Services and gave the company a "buy" rating in a research report on Monday, September 8th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, BrightSpring Health Services has an average rating of "Moderate Buy" and an average target price of $27.10.

BrightSpring Health Services Stock Performance

The stock has a market capitalization of $4.85 billion, a PE ratio of 36.62, a price-to-earnings-growth ratio of 0.45 and a beta of 2.27. 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's fifty day moving average is $22.62 and its 200-day moving average is $21.03.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. BrightSpring Health Services had a return on equity of 9.29% and a net margin of 0.55%.The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the prior year, the company earned $0.10 earnings per share. The company's revenue was up 15.3% compared to the same quarter last year. 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 earnings per share for the current year.

Insider Transactions at BrightSpring Health Services

In other BrightSpring Health Services news, major shareholder Phoenix Aggregator L.P. Kkr sold 2,100,000 shares of BrightSpring Health Services stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $21.15, for a total transaction of $44,415,000.00. Following the sale, the insider directly owned 77,096,337 shares in the company, valued at $1,630,587,527.55. The trade was a 2.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BrightSpring Health Services

Institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC bought a new stake in shares of BrightSpring Health Services in the 2nd quarter valued at approximately $43,000. Sandia Investment Management LP acquired a new stake in BrightSpring Health Services in the second quarter worth about $118,000. Penserra Capital Management LLC acquired a new stake in BrightSpring Health Services in the second quarter worth about $139,000. PNC Financial Services Group Inc. lifted its holdings in BrightSpring Health Services by 1,532.2% in the second quarter. PNC Financial Services Group Inc. now owns 8,161 shares of the company's stock worth $193,000 after purchasing an additional 7,661 shares during the period. Finally, IFP Advisors Inc lifted its holdings in BrightSpring Health Services by 273,666.7% in the first quarter. IFP Advisors Inc now owns 8,213 shares of the company's stock worth $149,000 after purchasing an additional 8,210 shares during the period.

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.