BrightSpring Health Services (NASDAQ:BTSG) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen cut shares of BrightSpring Health Services (NASDAQ:BTSG) from a strong-buy rating to a buy rating in a research note issued to investors on Sunday.

Several other research firms have also weighed in on BTSG. Stephens boosted their target price on shares of BrightSpring Health Services from $53.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, May 4th. TD Cowen raised their price target on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Raymond James Financial initiated coverage on shares of BrightSpring Health Services in a research report on Thursday, July 9th. They set an “outperform” rating and a $80.00 price target on the stock. Zacks Research upgraded BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Finally, BTIG Research reiterated a “buy” rating and issued a $90.00 price objective on shares of BrightSpring Health Services in a research report on Thursday, August 13th. Two analysts have rated the stock with a Strong Buy rating and eighteen have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $70.71.

BrightSpring Health Services Price Performance

Shares of BTSG opened at $58.87 on Friday. BrightSpring Health Services has a 52-week low of $22.86 and a 52-week high of $73.75. The company has a quick ratio of 1.22, a current ratio of 1.59 and a debt-to-equity ratio of 1.06. The stock has a fifty day simple moving average of $66.45 and a two-hundred day simple moving average of $54.18. The company has a market capitalization of $11.65 billion, a PE ratio of 35.46, a price-to-earnings-growth ratio of 0.71 and a beta of 1.88.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.05. BrightSpring Health Services had a net margin of 2.55% and a return on equity of 16.73%. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the previous year, the company posted $0.22 EPS. The company’s revenue was up 23.0% compared to the same quarter last year. As a group, equities analysts forecast that BrightSpring Health Services will post 1.82 EPS for the current year.

Insider Activity

In other BrightSpring Health Services news, insider Lisa A. Nalley sold 35,000 shares of BrightSpring Health Services stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $2,056,250.00. Following the completion of the sale, the insider directly owned 131,948 shares in the company, valued at $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction on Friday, June 5th. The stock was sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the transaction, the insider directly owned 1,194,503 shares of the company’s stock, valued at $70,177,051.25. The trade was a 9.82% 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.

Hedge Funds Weigh In On BrightSpring Health Services

A number of large investors have recently made changes to their positions in BTSG. Bank of America Corp DE boosted its stake in shares of BrightSpring Health Services by 48.7% during the first quarter. Bank of America Corp DE now owns 1,534,154 shares of the company’s stock valued at $65,370,000 after purchasing an additional 502,786 shares during the period. New York State Teachers Retirement System bought a new position in shares of BrightSpring Health Services in the fourth quarter worth about $1,311,000. Ausbil Investment Management Ltd purchased a new position in BrightSpring Health Services in the 2nd quarter worth about $2,005,000. Bellars Harris Wealth Management LLC purchased a new position in BrightSpring Health Services in the 2nd quarter worth about $4,394,000. Finally, Wealthstar Advisors LLC bought a new stake in BrightSpring Health Services during the 1st quarter valued at about $1,525,000.

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.