BrightSpring Health Services (NASDAQ:BTSG) Upgraded at Guggenheim

BrightSpring Health Services (NASDAQ:BTSG) was upgraded by investment analysts at Guggenheim to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

BTSG has been the topic of several other reports. Raymond James Financial initiated coverage on BrightSpring Health Services in a research note on Thursday. They issued an “outperform” rating and a $80.00 price objective on the stock. Zacks Research downgraded shares of BrightSpring Health Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. BTIG Research raised their price target on shares of BrightSpring Health Services from $65.00 to $90.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Wall Street Zen cut shares of BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 4th. Finally, The Goldman Sachs Group started coverage on shares of BrightSpring Health Services in a research note on Monday, June 8th. They set a “buy” rating and a $71.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, BrightSpring Health Services currently has a consensus rating of “Buy” and a consensus price target of $68.41.

BrightSpring Health Services Trading Down 2.5%

BTSG stock opened at $69.64 on Monday. 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 company has a market cap of $13.74 billion, a price-to-earnings ratio of 49.39, a PEG ratio of 0.97 and a beta of 1.79. The business has a fifty day simple moving average of $62.46 and a 200-day simple moving average of $48.84. BrightSpring Health Services has a 52 week low of $19.01 and a 52 week high of $72.22.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the previous year, the business earned $0.14 earnings per share. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. On average, equities research analysts expect that BrightSpring Health Services will post 1.66 EPS for the current year.

Insider Activity at BrightSpring Health Services

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 130,000 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 value of $7,637,500.00. Following the completion of the sale, the insider owned 1,194,503 shares of the company’s stock, valued at $70,177,051.25. This trade represents a 9.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the sale, the insider directly owned 131,948 shares of the company’s stock, valued at $7,751,945. This trade represents a 20.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of BrightSpring Health Services by 30.5% in the fourth quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company’s stock valued at $469,385,000 after purchasing an additional 2,928,953 shares during the period. Price T Rowe Associates Inc. MD increased its stake 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 buying an additional 478,436 shares during the period. Invesco Ltd. increased its stake 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 buying an additional 1,248,107 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in BrightSpring Health Services by 21.7% in 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 buying an additional 1,091,757 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in BrightSpring Health Services by 12.1% in the 2nd quarter. Alliancebernstein L.P. now owns 5,450,085 shares of the company’s stock worth $128,568,000 after buying an additional 588,642 shares in the last quarter.

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.