BrightSpring Health Services, Inc. (NASDAQ:BTSG - Get Free Report)'s share price fell 9% on Tuesday . The stock traded as low as $20.52 and last traded at $21.72. 1,303,037 shares traded hands during trading, a decline of 11% from the average session volume of 1,458,752 shares. The stock had previously closed at $23.86.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on BTSG. Morgan Stanley raised their price objective on shares of BrightSpring Health Services from $20.00 to $25.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Mizuho set a $26.00 price objective on shares of BrightSpring Health Services in a research report on Monday, May 5th. Finally, Wells Fargo & Company raised their price objective on shares of BrightSpring Health Services from $25.00 to $27.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.56.
Read Our Latest Stock Analysis on BrightSpring Health Services
BrightSpring Health Services Price Performance
The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 0.97. The firm has a market capitalization of $3.69 billion, a P/E ratio of -81.46 and a beta of 2.58. The firm's 50 day simple moving average is $20.74 and its two-hundred day simple moving average is $19.63.
BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.10. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.74 billion. BrightSpring Health Services had a negative net margin of 0.38% and a positive return on equity of 4.16%. The firm's revenue for the quarter was up 25.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.12 earnings per share. As a group, analysts predict that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current year.
Insider Buying and Selling at BrightSpring Health Services
In other BrightSpring Health Services news, insider Jon B. Rousseau sold 531,840 shares of the business's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $21.75, for a total value of $11,567,520.00. Following the transaction, the insider now owns 1,184,133 shares in the company, valued at approximately $25,754,892.75. The trade was a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.40% of the company's stock.
Hedge Funds Weigh In On BrightSpring Health Services
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP bought a new stake in BrightSpring Health Services during the fourth quarter worth about $29,000. IFP Advisors Inc boosted its stake in 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 acquiring an additional 8,210 shares in the last quarter. Highland Capital Management LLC bought a new stake in BrightSpring Health Services during the first quarter worth about $181,000. Envestnet Asset Management Inc. bought a new stake in BrightSpring Health Services during the fourth quarter worth about $188,000. Finally, KLP Kapitalforvaltning AS bought a new stake in BrightSpring Health Services during the fourth quarter worth about $206,000.
BrightSpring Health Services Company Profile
(
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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.
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