TD Cowen Initiates Coverage on BrightSpring Health Services (NASDAQ:BTSG)

TD Cowen started coverage on shares of BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) in a research report issued on Monday,Briefing.com Automated Import reports. The firm set a "buy" rating and a $37.00 price target on the stock. TD Cowen's price target points to a potential upside of 66.14% from the company's previous close.

Other equities analysts also recently issued research reports about the stock. Mizuho set a $26.00 price target on shares of BrightSpring Health Services in a research note on Monday, May 5th. Morgan Stanley increased their price target on BrightSpring Health Services from $20.00 to $25.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Finally, Wells Fargo & Company upped their target price on BrightSpring Health Services from $25.00 to $27.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $24.90.

BrightSpring Health Services Price Performance

BTSG stock opened at $22.27 on Monday. BrightSpring Health Services has a 1 year low of $10.15 and a 1 year 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. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 79.54 and a beta of 2.58. The company has a 50 day simple moving average of $21.20 and a 200 day simple moving average of $19.75.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The company reported $0.19 earnings per share for the quarter, beating 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 the consensus estimate of $2.74 billion. During the same quarter last year, the business posted $0.12 EPS. BrightSpring Health Services's revenue for the quarter was up 25.9% on a year-over-year basis. Research analysts anticipate that BrightSpring Health Services will post 0.59 EPS for the current fiscal year.

Insider Transactions at BrightSpring Health Services

In related news, major shareholder Phoenix Aggregator L.P. Kkr sold 13,288,101 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $21.15, for a total value of $281,043,336.15. Following the sale, the insider now owns 79,671,883 shares in the company, valued at $1,685,060,325.45. This represents a 14.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jon B. Rousseau sold 531,840 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $21.75, for a total value of $11,567,520.00. Following the sale, the insider now directly owns 1,184,133 shares of the company's stock, valued at $25,754,892.75. This represents a 30.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.

Institutional Trading of BrightSpring Health Services

Several institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in BrightSpring Health Services by 2,526.5% in the 1st quarter. GAMMA Investing LLC now owns 14,472 shares of the company's stock worth $262,000 after purchasing an additional 13,921 shares in the last quarter. Rhumbline Advisers lifted its holdings in BrightSpring Health Services by 4.8% during the first quarter. Rhumbline Advisers now owns 77,100 shares of the company's stock worth $1,395,000 after acquiring an additional 3,517 shares during the period. Assenagon Asset Management S.A. bought a new stake in BrightSpring Health Services during the first quarter worth $561,000. Raymond James Financial Inc. purchased a new position in BrightSpring Health Services in the fourth quarter worth $18,257,000. Finally, Deutsche Bank AG grew its stake in BrightSpring Health Services by 80.9% in the 4th quarter. Deutsche Bank AG now owns 57,713 shares of the company's stock valued at $983,000 after purchasing an additional 25,810 shares during the period.

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.

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