Wells Fargo & Company Issues Positive Forecast for BrightSpring Health Services (NASDAQ:BTSG) Stock Price

BrightSpring Health Services (NASDAQ:BTSG) had its price target raised by analysts at Wells Fargo & Company from $43.00 to $50.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 22.45% from the company’s current price.

A number of other equities analysts also recently commented on BTSG. Mizuho set a $45.00 target price on shares of BrightSpring Health Services in a research note on Friday, January 9th. BMO Capital Markets restated an “outperform” rating and set a $46.00 price target on shares of BrightSpring Health Services in a research note on Friday, January 23rd. Bank of America upped their price objective on shares of BrightSpring Health Services from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. TD Cowen reissued a “buy” rating on shares of BrightSpring Health Services in a research report on Tuesday, January 27th. Finally, KeyCorp upgraded shares of BrightSpring Health Services from a “sector weight” rating to an “overweight” rating and set a $45.00 price target for the company in a report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.92.

BrightSpring Health Services Trading Down 1.4%

NASDAQ:BTSG traded down $0.60 during mid-day trading on Monday, hitting $40.83. 418,856 shares of the stock traded hands, compared to its average volume of 1,688,221. The company has a quick ratio of 1.12, a current ratio of 1.57 and a debt-to-equity ratio of 1.32. BrightSpring Health Services has a 52 week low of $15.48 and a 52 week high of $44.87. The stock has a market capitalization of $7.36 billion, a price-to-earnings ratio of 46.41, a PEG ratio of 0.60 and a beta of 2.30. The firm’s 50 day moving average is $39.13 and its two-hundred day moving average is $33.40.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings data on Friday, February 27th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.01). The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.38 billion. BrightSpring Health Services had a return on equity of 12.66% and a net margin of 1.48%.The firm’s revenue for the quarter was up 29.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.11 EPS. On average, equities research analysts predict that BrightSpring Health Services will post 0.59 earnings per share for the current year.

Hedge Funds Weigh In On BrightSpring Health Services

Institutional investors and hedge funds have recently bought and sold shares of the company. CWM LLC grew its stake in BrightSpring Health Services by 17.5% during the 4th quarter. CWM LLC now owns 1,874 shares of the company’s stock valued at $70,000 after purchasing an additional 279 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of BrightSpring Health Services by 17.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,826 shares of the company’s stock worth $143,000 after purchasing an additional 565 shares during the period. NBC Securities Inc. purchased a new stake in BrightSpring Health Services in the fourth quarter valued at approximately $29,000. Salomon & Ludwin LLC acquired a new position in BrightSpring Health Services in the 4th quarter worth approximately $30,000. Finally, Farther Finance Advisors LLC raised its position in BrightSpring Health Services by 112.8% during the 4th quarter. Farther Finance Advisors LLC now owns 1,717 shares of the company’s stock worth $64,000 after buying an additional 910 shares during the last quarter.

BrightSpring Health Services Company Profile

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.