BrightSpring Health Services, Inc. (NASDAQ:BTSG) Receives Consensus Rating of "Buy" from Brokerages

Key Points

• BrightSpring Health Services has a consensus “Buy” rating from 20 analysts, including 18 buy ratings and two strong-buy ratings. The average 12-month price target is approximately $70.71, with recent targets ranging from $70 to $80.
• The company reported stronger-than-expected quarterly results, with earnings per share of $0.45 versus a $0.40 estimate and revenue of $3.87 billion, up 23% year over year.
• BTSG opened at $59.16, below its 52-day high of $73.75. Two insiders sold shares in June, while institutional ownership activity included significant purchases by the California State Teachers’ Retirement System and other investors.

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Get Free Report) have been assigned an average recommendation of "Buy" from the twenty research firms that are covering the company, Marketbeat.com reports. Eighteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $70.7059.

Several brokerages have recently issued reports on BTSG. KeyCorp reaffirmed an "overweight" rating on shares of BrightSpring Health Services in a report on Monday, August 3rd. The Goldman Sachs Group assumed coverage on BrightSpring Health Services in a report on Monday, June 8th. They set a "buy" rating and a $71.00 price target for the company. Morgan Stanley upped their price objective on BrightSpring Health Services from $71.00 to $80.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. BMO Capital Markets set a $70.00 target price on shares of BrightSpring Health Services in a report on Thursday, May 21st. Finally, Bank of America boosted their price target on shares of BrightSpring Health Services from $66.00 to $77.00 and gave the stock a "buy" rating in a research report on Thursday, July 2nd.

BrightSpring Health Services Stock Performance

BTSG opened at $59.16 on Wednesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.22 and a current ratio of 1.59. The stock has a market capitalization of $11.71 billion, a price-to-earnings ratio of 35.64, a PEG ratio of 0.68 and a beta of 1.85. The company has a fifty day moving average of $65.58 and a 200 day moving average of $55.18. BrightSpring Health Services has a fifty-two week low of $22.86 and a fifty-two week high of $73.75.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.45 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $3.66 billion. The business's quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.22 EPS. As a group, sell-side analysts forecast that BrightSpring Health Services will post 1.82 earnings per share for the current fiscal year.

Insider Buying and Selling at BrightSpring Health Services

In other news, insider Lisa A. Nalley sold 35,000 shares of the business's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $2,056,250.00. Following the sale, the insider directly owned 131,948 shares in the company, valued at $7,751,945. The trade was a 20.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jon B. Rousseau sold 130,000 shares of the company's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the sale, the insider owned 1,194,503 shares in the company, valued at $70,177,051.25. This represents a 9.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Amundi bought a new stake in BrightSpring Health Services during the second quarter worth approximately $254,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of BrightSpring Health Services in the 2nd quarter valued at approximately $3,700,000. California State Teachers Retirement System lifted its stake in shares of BrightSpring Health Services by 7,273.3% in the 2nd quarter. California State Teachers Retirement System now owns 11,660,667 shares of the company's stock valued at $813,215,000 after purchasing an additional 11,502,520 shares during the last quarter. SMART Wealth LLC boosted its holdings in shares of BrightSpring Health Services by 191.1% in the 2nd quarter. SMART Wealth LLC now owns 23,639 shares of the company's stock worth $1,649,000 after purchasing an additional 15,518 shares during the period. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in shares of BrightSpring Health Services in the 2nd quarter worth approximately $375,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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