BrightSpring Health Services (NASDAQ:BTSG) Hits New 1-Year High – Time to Buy?

BrightSpring Health Services, Inc. (NASDAQ:BTSG) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $59.30 and last traded at $59.1430, with a volume of 172687 shares. The stock had previously closed at $58.59.

Analysts Set New Price Targets

BTSG has been the topic of several recent research reports. TD Cowen upped their price objective on BrightSpring Health Services from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Wall Street Zen upgraded BrightSpring Health Services from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Stephens lifted their price target on BrightSpring Health Services from $53.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $60.00 price target on shares of BrightSpring Health Services in a research report on Monday, May 4th. Finally, UBS Group lifted their price target on BrightSpring Health Services from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Two analysts have rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company. According to data from MarketBeat.com, BrightSpring Health Services currently has an average rating of “Buy” and an average target price of $57.00.

BrightSpring Health Services Trading Up 1.2%

The company has a quick ratio of 1.38, a current ratio of 1.74 and a debt-to-equity ratio of 1.24. The firm has a market cap of $11.50 billion, a P/E ratio of 41.98, a P/E/G ratio of 0.74 and a beta of 1.71. The company’s 50 day simple moving average is $46.97 and its 200-day simple moving average is $40.82.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.10. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.14 earnings per share. As a group, research analysts predict that BrightSpring Health Services, Inc. will post 1.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BrightSpring Health Services news, CFO Jennifer A. Phipps sold 35,000 shares of the firm’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 $1,440,250.00. Following the completion of the sale, the chief financial officer owned 196,840 shares of the company’s stock, valued at $8,099,966. This trade represents a 15.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jon B. Rousseau sold 220,000 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total transaction 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. The trade was a 17.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 285,000 shares of company stock valued at $11,727,750 over the last 90 days. Insiders own 2.80% of the company’s stock.

Institutional Trading of BrightSpring Health Services

Several institutional investors and hedge funds have recently modified their holdings of BTSG. Vanguard Group Inc. raised its stake in shares of BrightSpring Health Services by 30.5% during the fourth quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company’s stock valued at $469,385,000 after acquiring an additional 2,928,953 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in BrightSpring Health Services by 936.4% in the second quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company’s stock worth $53,705,000 after buying an additional 2,056,920 shares in the last quarter. State Street Corp raised its stake in BrightSpring Health Services by 99.5% in the fourth quarter. State Street Corp now owns 4,033,149 shares of the company’s stock worth $151,041,000 after buying an additional 2,011,095 shares in the last quarter. Jane Street Group LLC raised its stake in BrightSpring Health Services by 855.4% in the second quarter. Jane Street Group LLC now owns 2,076,730 shares of the company’s stock worth $48,990,000 after buying an additional 1,859,369 shares in the last quarter. Finally, 8 Knots Management LLC bought a new position in BrightSpring Health Services in the third quarter worth approximately $51,244,000.

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.