BrightSpring Health Services (NASDAQ:BTSG) Upgraded by Wall Street Zen to Strong-Buy Rating

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

BTSG has been the topic of a number of other research reports. Mizuho set a $26.00 target price on shares of BrightSpring Health Services in a research report on Monday, May 5th. TD Cowen began coverage on shares of BrightSpring Health Services in a report on Monday, June 23rd. They set a "buy" rating and a $37.00 price objective on the stock. Wells Fargo & Company upped their target price on BrightSpring Health Services from $25.00 to $27.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. Finally, Morgan Stanley lifted their price target on BrightSpring Health Services from $20.00 to $25.00 and gave the company an "overweight" rating in a report on Friday, May 9th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $24.90.

BrightSpring Health Services Trading Down 2.5%

BTSG stock traded down $0.56 during mid-day trading on Friday, reaching $21.44. The company had a trading volume of 1,903,389 shares, compared to its average volume of 1,653,707. The company has a market capitalization of $3.77 billion, a PE ratio of 76.57 and a beta of 2.30. The firm has a 50 day moving average of $22.59 and a 200 day moving average of $20.11. BrightSpring Health Services has a 12 month low of $10.15 and a 12 month high of $25.57. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.73 and a quick ratio of 1.37.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.10. BrightSpring Health Services had a return on equity of 7.76% and a net margin of 0.49%. The company had revenue of $2.88 billion for the quarter, compared to analysts' expectations of $2.74 billion. During the same quarter in the prior year, the firm earned $0.12 earnings per share. BrightSpring Health Services's revenue was up 25.9% compared to the same quarter last year. On average, equities analysts predict that BrightSpring Health Services will post 0.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jon B. Rousseau sold 531,840 shares of the company's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $21.75, for a total transaction of $11,567,520.00. Following the transaction, the insider directly owned 1,184,133 shares of the company's stock, valued at $25,754,892.75. This represents a 30.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Phoenix Aggregator L.P. Kkr sold 2,100,000 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $21.15, for a total value of $44,415,000.00. Following the completion of the sale, the insider owned 77,096,337 shares of the company's stock, valued at approximately $1,630,587,527.55. This trade represents a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,919,941 shares of company stock valued at $337,025,856 in the last three months. Insiders own 3.40% of the company's stock.

Institutional Trading of BrightSpring Health Services

Institutional investors have recently bought and sold shares of the stock. Quarry LP purchased a new stake in BrightSpring Health Services during the 4th quarter worth approximately $29,000. IFP Advisors Inc grew its holdings in shares of BrightSpring Health Services by 273,666.7% during the first quarter. IFP Advisors Inc now owns 8,213 shares of the company's stock valued at $149,000 after buying an additional 8,210 shares during the last quarter. Highland Capital Management LLC purchased a new stake in shares of BrightSpring Health Services during the first quarter valued at $181,000. Envestnet Asset Management Inc. acquired a new position in shares of BrightSpring Health Services in the 4th quarter valued at $188,000. Finally, KLP Kapitalforvaltning AS purchased a new position in BrightSpring Health Services in the 4th quarter worth $206,000.

BrightSpring Health Services Company Profile

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.