BrightSpring Health Services (NASDAQ:BTSG) Stock Price Expected to Rise, Bank of America Analyst Says

Key Points

• Bank of America has raised its target price for BrightSpring Health Services from $27.50 to $31.00, predicting an 11.49% upside from the current price and maintaining a "buy" rating.
• The company's stock recently saw a 6.0% increase, reaching $27.80 with over 2 million shares traded on that day.
• BrightSpring Health Services reported revenue of $3.15 billion for the last quarter, surpassing analyst estimates and showing a 15.3% increase compared to the previous year.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) had its price target raised by investment analysts at Bank of America from $27.50 to $31.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's target price points to a potential upside of 17.20% from the stock's current price.

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

BrightSpring Health Services Stock Performance

Shares of NASDAQ BTSG traded down $1.54 during trading on Wednesday, reaching $26.45. The stock had a trading volume of 4,264,269 shares, compared to its average volume of 2,550,957. BrightSpring Health Services has a one year low of $13.80 and a one year high of $28.43. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.34 and a current ratio of 1.76. The stock has a market cap of $4.69 billion, a PE ratio of 85.33, a P/E/G ratio of 0.47 and a beta of 2.27. The firm's 50 day moving average price is $22.28 and its two-hundred day moving average price is $20.86.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates 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 previous year, the business earned $0.10 EPS. The business's quarterly revenue was up 15.3% on a year-over-year basis. BrightSpring Health Services has set its FY 2025 guidance at EPS. On average, research analysts forecast that BrightSpring Health Services will post 0.59 earnings per share for the current fiscal year.

Insider Buying and Selling at BrightSpring Health Services

In other news, major shareholder Phoenix Aggregator L.P. Kkr sold 2,100,000 shares of the company's 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 completion of the sale, the insider owned 77,096,337 shares in the company, valued at $1,630,587,527.55. This represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 3.40% of the stock is currently owned by company insiders.

Institutional Trading of BrightSpring Health Services

Institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC acquired a new stake in shares of BrightSpring Health Services in the second quarter valued at $43,000. Sandia Investment Management LP acquired a new stake in shares of BrightSpring Health Services during the second quarter worth $118,000. Penserra Capital Management LLC acquired a new stake in shares of BrightSpring Health Services during the second quarter worth $139,000. PNC Financial Services Group Inc. raised 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 worth $193,000 after purchasing an additional 7,661 shares during the period. Finally, IFP Advisors Inc raised its position in shares of BrightSpring Health Services by 273,666.7% during 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.