BrightSpring Health Services (NASDAQ:BTSG) Earns Buy Rating from Analysts at TD Cowen

Equities research analysts at TD Cowen initiated coverage on shares of BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) in a research report issued on Monday, MarketBeat.com reports. The firm set a "buy" rating and a $37.00 price target on the stock. TD Cowen's target price would suggest a potential upside of 60.31% from the stock's current price.

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

BrightSpring Health Services Price Performance

Shares of NASDAQ BTSG traded up $0.47 during midday trading on Monday, reaching $23.08. The stock had a trading volume of 1,887,988 shares, compared to its average volume of 1,603,497. The company has a market capitalization of $4.06 billion, a price-to-earnings ratio of 82.43 and a beta of 2.58. BrightSpring Health Services has a 12-month low of $10.15 and a 12-month high of $25.57. The stock has a 50-day moving average of $21.67 and a 200-day moving average of $19.85. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.37 and a current ratio of 1.73.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.10. The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.74 billion. BrightSpring Health Services had a return on equity of 7.76% and a net margin of 0.49%. BrightSpring Health Services's revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.12 EPS. As a group, research analysts anticipate that BrightSpring Health Services will post 0.59 EPS for the current fiscal year.

Insider Activity

In other news, insider Jon B. Rousseau sold 531,840 shares of the 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 in the company, valued at approximately $25,754,892.75. This represents a 30.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Phoenix Aggregator L.P. Kkr sold 2,100,000 shares of the business's stock in a transaction on 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 transaction, the insider now owns 77,096,337 shares of the company's stock, valued at approximately $1,630,587,527.55. The trade was a 2.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,919,941 shares of company stock valued at $337,025,856. 3.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BrightSpring Health Services

A number of institutional investors have recently modified their holdings of BTSG. Rhumbline Advisers raised its position in BrightSpring Health Services by 1.5% during the 4th quarter. Rhumbline Advisers now owns 73,583 shares of the company's stock valued at $1,253,000 after purchasing an additional 1,118 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of BrightSpring Health Services by 28.5% during the fourth quarter. Bank of New York Mellon Corp now owns 157,213 shares of the company's stock valued at $2,677,000 after buying an additional 34,907 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of BrightSpring Health Services by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 450,993 shares of the company's stock valued at $7,680,000 after acquiring an additional 10,658 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of BrightSpring Health Services in the fourth quarter valued at about $18,257,000. Finally, Lisanti Capital Growth LLC lifted its stake in BrightSpring Health Services by 4.6% in the fourth quarter. Lisanti Capital Growth LLC now owns 331,910 shares of the company's stock worth $5,652,000 after acquiring an additional 14,565 shares during the period.

About BrightSpring Health Services

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.