BrightSpring Health Services (NASDAQ:BTSG) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded BrightSpring Health Services from “buy” to “strong buy.” The stock has a consensus “buy” rating among analysts, with an average price target of $70.71.
• BrightSpring reported quarterly EPS of $0.45, exceeding estimates of $0.40, while revenue rose 23% year over year to $3.87 billion, above expectations.
• Shares opened at $61.71, compared with a 52-week range of $22.36 to $73.75. Several institutional investors initiated positions during the second quarter, while two insiders sold shares in June.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Saturday.

A number of other research firms have also recently commented on BTSG. BMO Capital Markets set a $70.00 target price on BrightSpring Health Services in a research report on Thursday, May 21st. Guggenheim started coverage on BrightSpring Health Services in a research report on Monday, July 13th. They set a "buy" rating and a $81.00 price target on the stock. Mizuho boosted their price objective on BrightSpring Health Services from $52.00 to $61.00 and gave the company an "outperform" rating in a research note on Tuesday, May 5th. Zacks Research upgraded shares of BrightSpring Health Services from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 4th. Finally, Morgan Stanley increased their price target on shares of BrightSpring Health Services from $71.00 to $80.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating and eighteen have issued a Buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $70.71.

BrightSpring Health Services Stock Performance

Shares of BrightSpring Health Services stock opened at $61.71 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.59 and a debt-to-equity ratio of 1.06. BrightSpring Health Services has a 52 week low of $22.36 and a 52 week high of $73.75. The firm's 50 day moving average is $66.64 and its two-hundred day moving average is $53.39. The firm has a market capitalization of $12.21 billion, a P/E ratio of 37.17, a P/E/G ratio of 0.74 and a beta of 1.88.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last issued its earnings results on Friday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.05. BrightSpring Health Services had a net margin of 2.55% and a return on equity of 16.73%. The business had revenue of $3.87 billion during the quarter, compared to analysts' expectations of $3.66 billion. During the same quarter in the prior year, the business posted $0.22 EPS. The company's revenue for the quarter was up 23.0% on a year-over-year basis. Research analysts forecast that BrightSpring Health Services will post 1.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction dated 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 sale, the insider owned 1,194,503 shares of the company's stock, valued at $70,177,051.25. The trade was a 9.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lisa A. Nalley sold 35,000 shares of the business's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $58.75, for a total transaction 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BrightSpring Health Services

A number of hedge funds have recently added to or reduced their stakes in BTSG. Jupiter Topco LLC acquired a new position in BrightSpring Health Services during the 2nd quarter worth approximately $18,655,000. Hsbc Holdings PLC purchased a new position in shares of BrightSpring Health Services during the 2nd quarter worth approximately $24,749,000. Canada Pension Plan Investment Board acquired a new stake in shares of BrightSpring Health Services in the 2nd quarter valued at approximately $3,578,000. Castleark Management LLC purchased a new stake in shares of BrightSpring Health Services during the 2nd quarter worth $14,815,000. Finally, Caledonia Private Investments Pty Ltd purchased a new stake in BrightSpring Health Services during the second quarter worth about $216,000.

BrightSpring Health Services Company Profile

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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