BrightSpring Health Services (NASDAQ:BTSG) Sets New 12-Month High – Here’s What Happened

BrightSpring Health Services, Inc. (NASDAQ:BTSG)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $64.60 and last traded at $64.4890, with a volume of 2061 shares changing hands. The stock had previously closed at $64.08.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BTSG shares. BTIG Research upped their price objective on BrightSpring Health Services from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Stephens upped their price objective on BrightSpring Health Services from $53.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. The Goldman Sachs Group started coverage on BrightSpring Health Services in a research report on Monday, June 8th. They issued a “buy” rating and a $71.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $60.00 price objective on shares of BrightSpring Health Services in a research note on Monday, May 4th. Finally, Zacks Research raised shares of BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. Two research analysts have rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the stock. According to data from MarketBeat.com, BrightSpring Health Services currently has an average rating of “Buy” and an average target price of $58.53.

BrightSpring Health Services Price Performance

The company has a 50-day moving average of $54.42 and a two-hundred day moving average of $44.65. The stock has a market capitalization of $12.71 billion, a PE ratio of 45.70, a P/E/G ratio of 0.83 and a beta of 1.87. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.74 and a quick ratio of 1.38.

BrightSpring Health Services (NASDAQ:BTSG) last released its earnings results on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.10. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the prior year, the business posted $0.14 earnings per share. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. Sell-side analysts predict that BrightSpring Health Services, Inc. will post 1.67 EPS for the current fiscal year.

Insider Activity

In other BrightSpring Health Services news, insider Lisa A. Nalley sold 35,000 shares of the stock in a transaction that occurred on 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 transaction, the insider owned 131,948 shares of the company’s stock, valued at $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jon B. Rousseau sold 130,000 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $70,177,051.25. This represents a 9.82% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On BrightSpring Health Services

A number of large investors have recently bought and sold shares of BTSG. NBC Securities Inc. purchased a new position in shares of BrightSpring Health Services in the 4th quarter worth about $29,000. Salomon & Ludwin LLC purchased a new position in shares of BrightSpring Health Services in the 4th quarter worth about $30,000. GHP Investment Advisors Inc. purchased a new position in shares of BrightSpring Health Services in the 1st quarter valued at $31,000. EverSource Wealth Advisors LLC purchased a new position in shares of BrightSpring Health Services in the 2nd quarter valued at $43,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of BrightSpring Health Services in the 1st quarter valued at $52,000.

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.