BrightSpring Health Services (NASDAQ:BTSG) Upgraded to "Strong-Buy" at Guggenheim

Key Points

• Guggenheim upgraded BrightSpring Health Services to “strong-buy,” adding to a broadly bullish analyst outlook. Overall, 2 analysts now rate the stock Strong Buy, 17 Buy, and 1 Hold, with an average price target of $68.41.
• The company reported stronger-than-expected quarterly results, posting EPS of $0.39 versus the $0.29 estimate and revenue of $3.61 billion, above forecasts. Revenue rose 25.6% year over year.
• Shares have climbed near their 52-week high, opening at $69.64 versus a 12-month high of $72.22. The stock has also attracted some insider selling, including notable share sales by two executives in June.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) was upgraded by Guggenheim to a "strong-buy" rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $60.00 price target on shares of BrightSpring Health Services in a research report on Monday, May 4th. Bank of America upped their price objective on BrightSpring Health Services from $66.00 to $77.00 and gave the company a "buy" rating in a research report on Thursday, July 2nd. KeyCorp reaffirmed an "overweight" rating on shares of BrightSpring Health Services in a research note on Tuesday. Weiss Ratings raised shares of BrightSpring Health Services from a "hold (c)" rating to a "buy (b-)" rating in a research note on Monday, May 4th. Finally, Wells Fargo & Company upped their target price on shares of BrightSpring Health Services from $61.00 to $78.00 and gave the company an "overweight" rating in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $68.41.

BrightSpring Health Services Stock Performance

Shares of BTSG opened at $69.64 on Monday. The company has a current ratio of 1.74, a quick ratio of 1.38 and a debt-to-equity ratio of 1.24. The stock has a market cap of $13.74 billion, a P/E ratio of 49.39, a PEG ratio of 0.97 and a beta of 1.79. The company has a 50-day moving average of $62.46 and a two-hundred day moving average of $48.84. BrightSpring Health Services has a 12-month low of $19.01 and a 12-month high of $72.22.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The company reported $0.39 EPS for the quarter, beating 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 business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period in the prior year, the business earned $0.14 earnings per share. The company's quarterly revenue was up 25.6% on a year-over-year basis. As a group, research analysts predict that BrightSpring Health Services will post 1.66 EPS for the current fiscal year.

Insider Buying and Selling at BrightSpring Health Services

In other BrightSpring Health Services news, insider Lisa A. Nalley sold 35,000 shares of the business's 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 completion of the transaction, the insider directly owned 131,948 shares in the company, valued at approximately $7,751,945. The trade was a 20.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jon B. Rousseau sold 130,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $7,637,500.00. Following the transaction, the insider directly owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. This represents a 9.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.80% of the company's stock.

Hedge Funds Weigh In On BrightSpring Health Services

Large investors have recently added to or reduced their stakes in the business. NBC Securities Inc. purchased a new stake in BrightSpring Health Services in the 4th quarter valued at about $29,000. Salomon & Ludwin LLC purchased a new position in shares of BrightSpring Health Services during the 4th quarter worth about $30,000. GHP Investment Advisors Inc. acquired a new stake in shares of BrightSpring Health Services in the first quarter worth approximately $31,000. EverSource Wealth Advisors LLC acquired a new stake in shares of BrightSpring Health Services in the second quarter worth approximately $43,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of BrightSpring Health Services in the first quarter worth 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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