BrightSpring Health Services (NASDAQ:BTSG) Shares Down 4.6% – What’s Next?

BrightSpring Health Services, Inc. (NASDAQ:BTSG) shares traded down 4.6% on Tuesday . The company traded as low as $57.02 and last traded at $56.7360. Approximately 1,037,742 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 2,980,388 shares. The stock had previously closed at $59.49.

Analyst Ratings Changes

A number of analysts have commented on BTSG shares. The Goldman Sachs Group initiated coverage on BrightSpring Health Services in a research report on Monday, June 8th. They set a “buy” rating and a $71.00 target price on the stock. KeyCorp reissued an “overweight” rating on shares of BrightSpring Health Services in a research note on Monday, August 3rd. Stephens raised their target price on shares of BrightSpring Health Services from $53.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $70.00 target price on shares of BrightSpring Health Services in a research report on Monday, August 3rd. Finally, Raymond James Financial assumed coverage on shares of BrightSpring Health Services in a report on Thursday, July 9th. They issued an “outperform” rating and a $80.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating and eighteen have given a Buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $70.71.

BrightSpring Health Services Stock Performance

The company has a quick ratio of 1.22, a current ratio of 1.59 and a debt-to-equity ratio of 1.06. The stock has a fifty day moving average price of $66.36 and a two-hundred day moving average price of $54.33. The company has a market capitalization of $11.23 billion, a price-to-earnings ratio of 34.18, a PEG ratio of 0.71 and a beta of 1.88.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings data on Friday, July 31st. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%.The firm had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter last year, the business posted $0.22 EPS. The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. As a group, analysts forecast that BrightSpring Health Services, Inc. will post 1.82 EPS for the current fiscal year.

Insider Transactions at BrightSpring Health Services

In other news, insider Lisa A. Nalley sold 35,000 shares of BrightSpring Health Services stock in a transaction dated 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 in the company, valued at $7,751,945. The trade was a 20.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jon B. Rousseau sold 130,000 shares of the business’s 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 $7,637,500.00. Following the completion of the transaction, the insider directly owned 1,194,503 shares of the company’s stock, valued at approximately $70,177,051.25. This represents a 9.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. AQR Capital Management LLC acquired a new stake in shares of BrightSpring Health Services during the first quarter worth $276,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in BrightSpring Health Services by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,429 shares of the company’s stock valued at $587,000 after purchasing an additional 1,780 shares during the last quarter. Millennium Management LLC lifted its position in BrightSpring Health Services by 0.3% during the first quarter. Millennium Management LLC now owns 577,885 shares of the company’s stock worth $10,454,000 after buying an additional 1,967 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in BrightSpring Health Services by 11.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,280 shares of the company’s stock worth $2,664,000 after buying an additional 14,586 shares during the period. Finally, Prudential Financial Inc. acquired a new stake in BrightSpring Health Services in the 2nd quarter worth about $351,000.

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.