BrightSpring Health Services, Inc. (BTSG) – What Are Researchers Thinking About This Stock?

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) have been given a consensus recommendation of “Moderate Buy” by the nineteen brokerages that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $72.88.

BTSG has been the topic of several analyst reports. Bank of America increased their price target on shares of BrightSpring Health Services from $66.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Zacks Research cut BrightSpring Health Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 2nd. BMO Capital Markets reissued an “outperform” rating on shares of BrightSpring Health Services in a research report on Friday, October 2nd. Raymond James Financial began coverage on shares of BrightSpring Health Services in a research note on Thursday, July 9th. They set an “outperform” rating and a $80.00 price target on the stock. Finally, Wells Fargo & Company upped their price objective on BrightSpring Health Services from $61.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, July 13th.

Institutional Investors Weigh In On BrightSpring Health Services

A number of hedge funds and other institutional investors have recently bought and sold shares of BTSG. TD Waterhouse Canada Inc. acquired a new stake in BrightSpring Health Services in the 2nd quarter valued at $22,054,000. Bank of America Corp DE grew its stake in BrightSpring Health Services by 48.7% in 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 in the last quarter. Ausbil Investment Management Ltd bought a new position in BrightSpring Health Services in the second quarter valued at approximately $2,005,000. Wealthstar Advisors LLC bought a new position in BrightSpring Health Services in the first quarter valued at approximately $1,525,000. Finally, Bellars Harris Wealth Management LLC acquired a new position in shares of BrightSpring Health Services during the 2nd quarter worth approximately $4,394,000.

BrightSpring Health Services Stock Performance

Shares of BTSG stock opened at $59.46 on Thursday. The company has a market capitalization of $11.76 billion, a price-to-earnings ratio of 35.82, a P/E/G ratio of 0.78 and a beta of 1.87. BrightSpring Health Services has a 1-year low of $30.64 and a 1-year high of $73.75. The company has a current ratio of 1.59, a quick ratio of 1.22 and a debt-to-equity ratio of 1.06. The stock’s fifty day simple moving average is $59.77 and its 200-day simple moving average is $54.29.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same period in the prior year, the firm earned $0.22 earnings per share. The firm’s revenue was up 23.0% compared to the same quarter last year. On average, sell-side analysts predict that BrightSpring Health Services will post 1.64 earnings per share for the current fiscal year.

About BrightSpring Health Services

BrightSpring Health Services (NASDAQ:BTSG) is a Louisville, Kentucky-based provider of home- and community-based health services and pharmacy services. The company focuses on supporting individuals with complex or chronic care needs, including older adults and people with disabilities, through care delivered in homes, communities and other non-hospital settings.

Its services include home health, hospice, personal care, behavioral health, primary care, rehabilitation and community living programs.