BrightSpring Health Services (NASDAQ:BTSG) Price Target Raised to $20.00 at Morgan Stanley

BrightSpring Health Services (NASDAQ:BTSG) had its price target hoisted by Morgan Stanley from $19.00 to $20.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms have also issued reports on BTSG. BTIG Research boosted their price target on shares of BrightSpring Health Services from $15.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Wells Fargo & Company upped their price target on shares of BrightSpring Health Services from $17.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. KeyCorp began coverage on shares of BrightSpring Health Services in a research report on Friday, October 11th. They issued a “sector weight” rating for the company. Mizuho upped their price target on shares of BrightSpring Health Services from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, Bank of America upped their price target on shares of BrightSpring Health Services from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, BrightSpring Health Services currently has an average rating of “Moderate Buy” and an average price target of $18.65.

BrightSpring Health Services Stock Performance

Shares of NASDAQ BTSG opened at $18.46 on Tuesday. The stock’s fifty day simple moving average is $17.57 and its 200 day simple moving average is $14.14. The stock has a market capitalization of $3.21 billion and a price-to-earnings ratio of -71.00. The company has a quick ratio of 0.97, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. BrightSpring Health Services has a 52-week low of $7.85 and a 52-week high of $20.25.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings results on Friday, November 1st. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). BrightSpring Health Services had a positive return on equity of 4.16% and a negative net margin of 0.38%. The company had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.72 billion. BrightSpring Health Services’s quarterly revenue was up 28.8% on a year-over-year basis. As a group, sell-side analysts forecast that BrightSpring Health Services will post 0.59 earnings per share for the current fiscal year.

Institutional Trading of BrightSpring Health Services

A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC increased its holdings in shares of BrightSpring Health Services by 17.2% during the 3rd quarter. FMR LLC now owns 18,169,187 shares of the company’s stock valued at $266,724,000 after acquiring an additional 2,664,582 shares during the last quarter. Magnetar Financial LLC grew its holdings in BrightSpring Health Services by 46.9% during the second quarter. Magnetar Financial LLC now owns 1,188,302 shares of the company’s stock valued at $13,499,000 after purchasing an additional 379,149 shares during the last quarter. Lisanti Capital Growth LLC bought a new position in shares of BrightSpring Health Services in the third quarter valued at approximately $4,659,000. TD Asset Management Inc acquired a new stake in shares of BrightSpring Health Services in the second quarter worth $2,308,000. Finally, ClariVest Asset Management LLC bought a new stake in shares of BrightSpring Health Services during the 2nd quarter worth $1,725,000.

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.