BrightSpring Health Services (NASDAQ:BTSG) Sets New 1-Year High – Still a Buy?

BrightSpring Health Services, Inc. (NASDAQ:BTSG)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $46.46 and last traded at $45.5410, with a volume of 405679 shares. The stock had previously closed at $43.87.

Analysts Set New Price Targets

BTSG has been the subject of several analyst reports. BTIG Research reaffirmed a “buy” rating and set a $55.00 price objective on shares of BrightSpring Health Services in a research report on Thursday, March 19th. Morgan Stanley upped their price objective on BrightSpring Health Services from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 4th. Leerink Partners reaffirmed an “outperform” rating and set a $49.00 price objective on shares of BrightSpring Health Services in a research report on Wednesday, March 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of BrightSpring Health Services in a research report on Monday, December 29th. Finally, Zacks Research raised BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $45.50.

BrightSpring Health Services Trading Up 4.0%

The stock has a market capitalization of $8.83 billion, a price-to-earnings ratio of 51.71, a PEG ratio of 0.57 and a beta of 2.03. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.12 and a current ratio of 1.57. The business has a 50-day moving average of $40.92 and a 200-day moving average of $36.65.

BrightSpring Health Services (NASDAQ:BTSG) last announced its earnings results on Friday, February 27th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.38 billion. BrightSpring Health Services had a net margin of 1.48% and a return on equity of 12.66%. The firm’s revenue for the quarter was up 29.3% compared to the same quarter last year. During the same period last year, the company earned $0.11 earnings per share. As a group, research analysts forecast that BrightSpring Health Services, Inc. will post 0.59 EPS for the current year.

Insider Activity at BrightSpring Health Services

In related news, CFO Jennifer A. Phipps sold 35,000 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total value of $1,440,250.00. Following the completion of the sale, the chief financial officer directly owned 196,840 shares of the company’s stock, valued at $8,099,966. This represents a 15.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jon B. Rousseau sold 220,000 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total value of $9,053,000.00. Following the completion of the sale, the insider directly owned 1,023,880 shares of the company’s stock, valued at approximately $42,132,662. This trade represents a 17.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 285,000 shares of company stock valued at $11,727,750 in the last three months. 3.40% of the stock is currently owned by company insiders.

Institutional Trading of BrightSpring Health Services

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in BrightSpring Health Services by 30.5% during the 4th quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company’s stock worth $469,385,000 after acquiring an additional 2,928,953 shares during the period. Price T Rowe Associates Inc. MD lifted its position in BrightSpring Health Services by 4.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,662,236 shares of the company’s stock worth $399,302,000 after acquiring an additional 478,436 shares during the period. Invesco Ltd. lifted its position in BrightSpring Health Services by 13.4% during the 4th quarter. Invesco Ltd. now owns 10,595,232 shares of the company’s stock worth $396,791,000 after acquiring an additional 1,248,107 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in BrightSpring Health Services by 21.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,123,865 shares of the company’s stock worth $229,339,000 after acquiring an additional 1,091,757 shares during the period. Finally, Alliancebernstein L.P. lifted its position in BrightSpring Health Services by 12.1% during the 2nd quarter. Alliancebernstein L.P. now owns 5,450,085 shares of the company’s stock worth $128,568,000 after acquiring an additional 588,642 shares during the period.

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.