BrightSpring Health Services (NASDAQ:BTSG) Stock Price Expected to Rise, BTIG Research Analyst Says

Key Points

• BTIG Research raised its price target on BrightSpring from $55 to $65 and kept a "buy" rating, implying about a 23.6% upside, while the Street consensus remains a Buy with an average target of $47.21.
• BrightSpring beat expectations for the quarter with $0.39 EPS vs. $0.29 expected and revenue of $3.61 billion (vs. $3.39 billion), marking a 25.6% year-over-year revenue increase.
• Company insiders have been net sellers recently—285,000 shares (~$11.7M) sold over the past three months (insiders now hold 2.8% of shares), including notable sales by the CFO and another executive.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) had its price target increased by equities research analysts at BTIG Research from $55.00 to $65.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. BTIG Research's price target suggests a potential upside of 23.62% from the company's current price.

A number of other equities analysts also recently commented on BTSG. UBS Group lifted their target price on BrightSpring Health Services from $53.00 to $55.00 and gave the company a "buy" rating in a research note on Wednesday, March 18th. Cantor Fitzgerald set a $49.00 target price on BrightSpring Health Services in a research note on Monday, March 2nd. BMO Capital Markets restated an "outperform" rating and issued a $60.00 target price on shares of BrightSpring Health Services in a research note on Friday. Leerink Partners restated an "outperform" rating and issued a $49.00 target price on shares of BrightSpring Health Services in a research note on Wednesday, March 18th. Finally, Zacks Research upgraded BrightSpring Health Services from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, BrightSpring Health Services currently has a consensus rating of "Buy" and a consensus price target of $47.21.

BrightSpring Health Services Price Performance

NASDAQ:BTSG opened at $52.58 on Monday. The company has a market capitalization of $10.16 billion, a price-to-earnings ratio of 37.29, a price-to-earnings-growth ratio of 0.74 and a beta of 1.71. BrightSpring Health Services has a one year low of $19.01 and a one year high of $54.68. The stock has a 50-day simple moving average of $43.50 and a 200 day simple moving average of $38.85. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.38 and a current ratio of 1.74.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last issued its earnings results on Friday, May 1st. The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.10. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the previous year, the firm posted $0.14 earnings per share. BrightSpring Health Services's quarterly revenue was up 25.6% compared to the same quarter last year. Sell-side analysts predict that BrightSpring Health Services will post 1.5 EPS for the current fiscal year.

Insider Transactions at BrightSpring Health Services

In other news, CFO Jennifer A. Phipps sold 35,000 shares of the business's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total transaction of $1,440,250.00. Following the completion of the transaction, the chief financial officer directly owned 196,840 shares in the company, valued at approximately $8,099,966. The trade was a 15.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Lisa A. Nalley sold 30,000 shares of the business's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total value of $1,234,500.00. Following the transaction, the insider owned 110,594 shares of the company's stock, valued at approximately $4,550,943.10. This represents a 21.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 285,000 shares of company stock worth $11,727,750. Company insiders own 2.80% of the company's stock.

Hedge Funds Weigh In On BrightSpring Health Services

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of BrightSpring Health Services by 16.4% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,736 shares of the company's stock worth $1,395,000 after buying an additional 4,607 shares during the period. Fifth Third Bancorp boosted its position in shares of BrightSpring Health Services by 76,964.7% during the first quarter. Fifth Third Bancorp now owns 102,496 shares of the company's stock worth $4,367,000 after buying an additional 102,363 shares during the period. Candriam S.C.A. acquired a new position in shares of BrightSpring Health Services during the first quarter worth approximately $4,772,000. Oregon Public Employees Retirement Fund lifted its position in BrightSpring Health Services by 16.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 30,300 shares of the company's stock worth $1,291,000 after purchasing an additional 4,300 shares during the period. Finally, Abel Hall LLC acquired a new stake in BrightSpring Health Services in the first quarter worth approximately $262,000.

About BrightSpring Health Services

BrightSpring Health Services NASDAQ: BTSG is a leading provider of home and community-based care and workforce solutions aimed at seniors, individuals with disabilities and those facing behavioral health challenges. The company's operations encompass a broad spectrum of services, including personal care, skilled nursing, therapy, habilitation and supported living, as well as specialized behavioral health programs delivered through both clinical and non-clinical channels.

Through its network of subsidiary brands, BrightSpring offers integrated care in the patient's home environment, fostering independence and improving quality of life.

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