BrightSpring Health Services (NASDAQ:BTSG) Price Target Raised to $16.00

BrightSpring Health Services (NASDAQ:BTSG) had its price objective lifted by equities research analysts at Wells Fargo & Company from $15.00 to $16.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 39.37% from the stock’s previous close.

Several other brokerages have also commented on BTSG. The Goldman Sachs Group cut their price target on shares of BrightSpring Health Services from $26.00 to $23.00 and set a “buy” rating for the company in a report on Monday, March 4th. HSBC initiated coverage on shares of BrightSpring Health Services in a research note on Wednesday, March 6th. They issued a “buy” rating and a $13.00 price target on the stock. UBS Group assumed coverage on shares of BrightSpring Health Services in a research note on Tuesday, February 20th. They set a “buy” rating and a $15.00 price objective for the company. Deutsche Bank Aktiengesellschaft upgraded shares of BrightSpring Health Services from a “hold” rating to a “buy” rating and set a $11.50 price objective for the company in a report on Tuesday, February 27th. Finally, SVB Leerink initiated coverage on BrightSpring Health Services in a report on Tuesday, February 20th. They set an “outperform” rating and a $15.00 target price on the stock. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $15.85.

BrightSpring Health Services Stock Performance

NASDAQ:BTSG opened at $11.48 on Monday. The company has a debt-to-equity ratio of 5.73, a quick ratio of 0.84 and a current ratio of 1.17. BrightSpring Health Services has a 52 week low of $7.85 and a 52 week high of $12.14. The company’s 50-day simple moving average is $10.03.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.06 by $0.06. The business had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.31 billion. The firm’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.10) earnings per share. As a group, equities research analysts anticipate that BrightSpring Health Services will post 0.67 EPS for the current fiscal year.

Insider Buying and Selling

In other BrightSpring Health Services news, CAO Jennifer A. Phipps bought 12,300 shares of BrightSpring Health Services stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $8.14 per share, for a total transaction of $100,122.00. Following the completion of the transaction, the chief accounting officer now directly owns 165,618 shares of the company’s stock, valued at $1,348,130.52. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Jennifer A. Phipps bought 12,300 shares of the stock in a transaction on Thursday, March 14th. The stock was bought at an average price of $8.14 per share, with a total value of $100,122.00. Following the completion of the purchase, the chief accounting officer now directly owns 165,618 shares in the company, valued at approximately $1,348,130.52. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James F. Mattingly, Jr. purchased 12,280 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $8.18 per share, with a total value of $100,450.40. Following the completion of the transaction, the insider now owns 128,700 shares of the company’s stock, valued at $1,052,766. The disclosure for this purchase can be found here.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BTSG. Capstone Investment Advisors LLC acquired a new stake in shares of BrightSpring Health Services in the first quarter valued at $9,722,000. Seven Grand Managers LLC acquired a new stake in BrightSpring Health Services during the 1st quarter worth approximately $1,630,000. Finally, BNP Paribas Financial Markets purchased a new position in BrightSpring Health Services in the 1st quarter valued at approximately $280,000.

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.