BrightSpring Health Services (NASDAQ:BTSG) Hits New 52-Week High – Here’s Why

BrightSpring Health Services, Inc. (NASDAQ:BTSG) hit a new 52-week high on Friday . The stock traded as high as $17.54 and last traded at $17.40, with a volume of 454585 shares changing hands. The stock had previously closed at $14.97.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. KeyCorp started coverage on shares of BrightSpring Health Services in a research report on Friday, October 11th. They set a “sector weight” rating on the stock. BTIG Research increased their price target on BrightSpring Health Services from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. UBS Group boosted their price objective on BrightSpring Health Services from $16.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday. Guggenheim increased their target price on BrightSpring Health Services from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Finally, The Goldman Sachs Group reduced their price target on shares of BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, August 9th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, BrightSpring Health Services has an average rating of “Moderate Buy” and a consensus price target of $16.50.

BrightSpring Health Services Price Performance

The stock has a 50-day moving average of $14.58 and a 200 day moving average of $12.44. The company has a current ratio of 1.33, a quick ratio of 1.00 and a debt-to-equity ratio of 1.62.

BrightSpring Health Services (NASDAQ:BTSG) last released its earnings results on Friday, November 1st. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). The firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.72 billion. The company’s revenue was up 28.8% compared to the same quarter last year. On average, equities research analysts predict that BrightSpring Health Services, Inc. will post 0.57 EPS for the current year.

Insider Buying and Selling at BrightSpring Health Services

In related news, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was bought at an average price of $11.13 per share, for a total transaction of $129,330,577.74. Following the purchase, the insider now directly owns 92,959,984 shares in the company, valued at approximately $1,034,644,621.92. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Investors Weigh In On BrightSpring Health Services

Several large investors have recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new position in shares of BrightSpring Health Services in the second quarter worth $55,000. Ameritas Investment Partners Inc. bought a new position in BrightSpring Health Services in the 1st quarter worth about $58,000. California State Teachers Retirement System purchased a new position in BrightSpring Health Services during the 1st quarter valued at about $59,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of BrightSpring Health Services during the second quarter valued at about $126,000. Finally, Arizona State Retirement System purchased a new stake in shares of BrightSpring Health Services in the second quarter worth about $163,000.

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.