BrightSpring Health Services (NASDAQ:BTSG) Price Target Raised to $80.00

BrightSpring Health Services (NASDAQ:BTSG) had its target price upped by Morgan Stanley from $71.00 to $80.00 in a report released on Tuesday, MarketBeat reports. The brokerage currently has an overweight rating on the stock.

BTSG has been the topic of several other reports. Leerink Partners reiterated an “outperform” rating and issued a $49.00 target price on shares of BrightSpring Health Services in a report on Wednesday, March 18th. Mizuho raised their price target on shares of BrightSpring Health Services from $52.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. TD Cowen lifted their price target on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. The Goldman Sachs Group assumed coverage on BrightSpring Health Services in a report on Monday, June 8th. They issued a “buy” rating and a $71.00 price objective on the stock. Finally, UBS Group increased their price objective on BrightSpring Health Services from $63.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $70.12.

BrightSpring Health Services Trading Down 0.1%

Shares of BTSG stock opened at $68.16 on Tuesday. BrightSpring Health Services has a fifty-two week low of $19.01 and a fifty-two week high of $72.22. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.38 and a current ratio of 1.74. The stock’s fifty day moving average is $63.44 and its two-hundred day moving average is $49.49. The firm has a market capitalization of $13.45 billion, a P/E ratio of 48.34, a PEG ratio of 0.92 and a beta of 1.79.

BrightSpring Health Services (NASDAQ:BTSG) last released its earnings results on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.39 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.14 earnings per share. Research analysts expect that BrightSpring Health Services will post 1.68 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Jon B. Rousseau sold 130,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $7,637,500.00. Following the transaction, the insider directly owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. This represents a 9.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Lisa A. Nalley sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $58.75, for a total transaction of $2,056,250.00. Following the completion of the transaction, the insider owned 131,948 shares in the company, valued at approximately $7,751,945. This represents a 20.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.80% of the company’s stock.

Institutional Trading of BrightSpring Health Services

Several institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC purchased a new stake in BrightSpring Health Services in the first quarter valued at approximately $276,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of BrightSpring Health Services by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,429 shares of the company’s stock worth $587,000 after buying an additional 1,780 shares during the period. Millennium Management LLC grew its stake in shares of BrightSpring Health Services by 0.3% in the first quarter. Millennium Management LLC now owns 577,885 shares of the company’s stock valued at $10,454,000 after buying an additional 1,967 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of BrightSpring Health Services by 11.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,280 shares of the company’s stock valued at $2,664,000 after buying an additional 14,586 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new stake in shares of BrightSpring Health Services in the second quarter valued at $351,000.

About BrightSpring Health Services

BrightSpring Health Services (NASDAQ: BTSG) is a leading provider of home and community-based care and workforce solutions aimed at seniors, individuals with disabilities and those facing behavioral health challenges. The company’s operations encompass a broad spectrum of services, including personal care, skilled nursing, therapy, habilitation and supported living, as well as specialized behavioral health programs delivered through both clinical and non-clinical channels.

Through its network of subsidiary brands, BrightSpring offers integrated care in the patient’s home environment, fostering independence and improving quality of life.