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

Key Points

• Mizuho raised its price target on BrightSpring to $61 (from $52) and kept an outperform rating, amid analyst upgrades that leave a consensus Buy rating and an average target of $55.29.
• BrightSpring beat quarterly estimates with EPS $0.39 vs. $0.29 expected and revenue of $3.61B vs. $3.39B consensus, with revenue up 25.6% year-over-year.
• Insiders sold 285,000 shares worth about $11.7M in the past three months, reducing insider ownership to 2.8%.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) had its price objective boosted by equities research analysts at Mizuho from $52.00 to $61.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Mizuho's price objective would suggest a potential upside of 13.93% from the stock's previous close.

Other equities analysts also recently issued research reports about the stock. Stephens increased their price objective on shares of BrightSpring Health Services from $53.00 to $64.00 and gave the company an "overweight" rating in a research note on Monday. UBS Group lifted their price target on shares of BrightSpring Health Services from $53.00 to $55.00 and gave the stock a "buy" rating in a report on Wednesday, March 18th. TD Cowen lifted their price target on shares of BrightSpring Health Services from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Monday. Morgan Stanley lifted their price target on shares of BrightSpring Health Services from $40.00 to $48.00 and gave the stock an "overweight" rating in a report on Wednesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $60.00 price target on shares of BrightSpring Health Services in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $55.29.

BrightSpring Health Services Price Performance

Shares of NASDAQ:BTSG opened at $53.54 on Tuesday. The company has a market cap of $10.34 billion, a price-to-earnings ratio of 37.97, a PEG ratio of 0.74 and a beta of 1.71. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.74 and a quick ratio of 1.38. The firm has a 50 day simple moving average of $43.50 and a 200 day simple moving average of $38.85. BrightSpring Health Services has a one year low of $19.01 and a one year high of $54.68.

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

Insider Transactions at BrightSpring Health Services

In other news, insider Jon B. Rousseau sold 220,000 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total transaction of $9,053,000.00. Following the completion of the sale, the insider directly owned 1,023,880 shares in the company, valued at $42,132,662. This represents a 17.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jennifer A. Phipps sold 35,000 shares of the stock in a transaction 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 sale, the chief financial officer owned 196,840 shares of the company's stock, valued at approximately $8,099,966. This trade represents a 15.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 285,000 shares of company stock worth $11,727,750 over the last three months. 2.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On BrightSpring Health Services

Several large investors have recently modified their holdings of the company. NBC Securities Inc. acquired a new stake in BrightSpring Health Services in the fourth quarter worth $29,000. Salomon & Ludwin LLC acquired a new stake in BrightSpring Health Services in the fourth quarter worth $30,000. GHP Investment Advisors Inc. acquired a new stake in BrightSpring Health Services in the first quarter worth $31,000. EverSource Wealth Advisors LLC acquired a new stake in BrightSpring Health Services in the second quarter worth $43,000. Finally, CWM LLC grew its holdings in BrightSpring Health Services by 105.3% in the third quarter. CWM LLC now owns 1,595 shares of the company's stock worth $47,000 after purchasing an additional 818 shares during the period.

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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