Morgan Stanley Increases BrightSpring Health Services (NASDAQ:BTSG) Price Target to $80.00

Key Points

• Morgan Stanley raised its price target on BrightSpring Health Services from $71 to $80 and kept an overweight rating, implying about 14.9% upside from the prior close.
• Analyst sentiment remains bullish overall, with multiple firms lifting targets and the stock carrying a consensus Buy rating and average target price of $70.12.
• BrightSpring recently topped quarterly expectations, reporting $0.39 EPS versus $0.29 expected and $3.61 billion in revenue versus $3.39 billion expected, with revenue up 25.6% year over year.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) had its price target boosted by equities researchers at Morgan Stanley from $71.00 to $80.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Morgan Stanley's price objective would suggest a potential upside of 14.88% from the company's previous close.

Other equities research analysts have also issued research reports about the stock. KeyCorp upped their price target on shares of BrightSpring Health Services from $60.00 to $80.00 and gave the company an "overweight" rating in a research report on Tuesday. Bank of America raised their price objective on shares of BrightSpring Health Services from $66.00 to $77.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. Leerink Partners restated an "outperform" rating and set a $49.00 target price on shares of BrightSpring Health Services in a research report on Wednesday, March 18th. The Goldman Sachs Group began coverage on shares of BrightSpring Health Services in a research report on Monday, June 8th. They set a "buy" rating and a $71.00 target price for the company. Finally, BMO Capital Markets set a $70.00 target price on shares of BrightSpring Health Services in a report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, BrightSpring Health Services has a consensus rating of "Buy" and a consensus target price of $70.12.

BrightSpring Health Services Stock Performance

Shares of BTSG opened at $69.64 on Tuesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.74 and a quick ratio of 1.38. BrightSpring Health Services has a one year low of $19.01 and a one year high of $72.22. The firm has a market capitalization of $13.74 billion, a P/E ratio of 49.39, a PEG ratio of 0.97 and a beta of 1.79. The business has a fifty day moving average of $62.46 and a 200 day moving average of $48.84.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.10. The company had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $3.39 billion. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.BrightSpring Health Services's revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.14 earnings per share. As a group, sell-side analysts anticipate that BrightSpring Health Services will post 1.66 EPS for the current year.

Insider Transactions at BrightSpring Health Services

In other news, insider Jon B. Rousseau sold 130,000 shares of the firm's stock in a transaction dated 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 owned 1,194,503 shares of the company's stock, valued at $70,177,051.25. This trade represents a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lisa A. Nalley sold 35,000 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 $2,056,250.00. Following 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.80% of the company's stock.

Hedge Funds Weigh In On BrightSpring Health Services

A number of hedge funds have recently modified their holdings of the company. GHP Investment Advisors Inc. bought a new stake in shares of BrightSpring Health Services during the 1st quarter valued at $31,000. NBC Securities Inc. bought a new stake in BrightSpring Health Services during the fourth quarter valued at about $29,000. Salomon & Ludwin LLC purchased a new position in shares of BrightSpring Health Services in the fourth quarter valued at about $30,000. Meeder Asset Management Inc. bought a new position in shares of BrightSpring Health Services in the first quarter worth about $52,000. Finally, Harbor Investment Advisory LLC purchased a new stake in shares of BrightSpring Health Services during the second quarter worth about $91,000.

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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