BrightSpring Health Services (NASDAQ:BTSG) Upgraded at Raymond James Financial

Key Points

• Raymond James Financial upgraded BrightSpring Health Services to a “moderate buy” rating, adding to a broadly positive analyst view on the stock.
• Multiple firms have recently reiterated or raised targets on BTSG, and the consensus among analysts now stands at an average rating of Buy with a $66.56 price target.
• BrightSpring reported strong first-quarter results, including EPS of $0.39 versus the $0.29 estimate and revenue of $3.61 billion, up 25.6% year over year.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) was upgraded by stock analysts at Raymond James Financial to a "moderate buy" rating in a research note issued on Thursday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on the company. Leerink Partners reissued an "outperform" rating and set a $49.00 price target on shares of BrightSpring Health Services in a research report on Wednesday, March 18th. BMO Capital Markets set a $70.00 target price on BrightSpring Health Services in a research report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $60.00 target price on shares of BrightSpring Health Services in a report on Monday, May 4th. Wells Fargo & Company raised their price target on BrightSpring Health Services from $50.00 to $61.00 and gave the stock an "overweight" rating in a research report on Monday, May 4th. Finally, TD Cowen boosted their price target on BrightSpring Health Services from $65.00 to $81.00 and gave the company a "buy" rating in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, BrightSpring Health Services currently has an average rating of "Buy" and an average price target of $66.56.

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BrightSpring Health Services Stock Performance

Shares of NASDAQ BTSG opened at $71.43 on Thursday. 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 company has a market capitalization of $14.09 billion, a P/E ratio of 50.66, a price-to-earnings-growth ratio of 0.97 and a beta of 1.79. BrightSpring Health Services has a one year low of $19.01 and a one year high of $72.06. The business's 50-day moving average price is $62.03 and its two-hundred day moving average price is $48.54.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last announced its earnings results on Friday, May 1st. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.29 by $0.10. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The company had revenue of $3.61 billion for the quarter, compared to analysts' expectations of $3.39 billion. During the same period last year, the firm earned $0.14 earnings per share. The business's revenue for the quarter was up 25.6% on a year-over-year basis. Analysts anticipate that BrightSpring Health Services will post 1.66 earnings per share for the current fiscal year.

Insider Activity at BrightSpring Health Services

In other news, insider Lisa A. Nalley sold 35,000 shares of BrightSpring Health Services stock in a transaction on Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $2,056,250.00. Following the transaction, the insider owned 131,948 shares in the company, valued at approximately $7,751,945. This trade represents a 20.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction on Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $7,637,500.00. Following the completion of the transaction, the insider owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. The trade was a 9.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is owned by insiders.

Institutional Trading of BrightSpring Health Services

Large investors have recently bought and sold shares of the business. NBC Securities Inc. acquired a new position in BrightSpring Health Services during the fourth quarter worth about $29,000. Salomon & Ludwin LLC acquired a new stake in shares of BrightSpring Health Services in the 4th quarter valued at approximately $30,000. GHP Investment Advisors Inc. acquired a new stake in shares of BrightSpring Health Services in the 1st quarter valued at approximately $31,000. EverSource Wealth Advisors LLC bought a new stake in shares of BrightSpring Health Services during the 2nd quarter valued at approximately $43,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of BrightSpring Health Services during the 1st quarter valued at approximately $52,000.

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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