BrightSpring Health Services, Inc. (NASDAQ:BTSG) Given Consensus Rating of “Buy” by Brokerages

BrightSpring Health Services, Inc. (NASDAQ:BTSG) has earned a consensus rating of “Buy” from the twenty ratings firms that are currently covering the company, MarketBeat Ratings reports. Eighteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $70.7059.

A number of brokerages have issued reports on BTSG. Guggenheim started coverage on BrightSpring Health Services in a report on Monday, July 13th. They set a “buy” rating and a $81.00 price objective for the company. Zacks Research raised shares of BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Wall Street Zen cut shares of BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 23rd. BMO Capital Markets set a $70.00 price target on shares of BrightSpring Health Services in a report on Thursday, May 21st. Finally, Raymond James Financial assumed coverage on shares of BrightSpring Health Services in a report on Thursday, July 9th. They set an “outperform” rating and a $80.00 price target for the company.

BrightSpring Health Services Trading Up 3.0%

Shares of BTSG opened at $62.56 on Wednesday. The company has a current ratio of 1.59, a quick ratio of 1.22 and a debt-to-equity ratio of 1.06. The stock has a market cap of $12.38 billion, a PE ratio of 37.69, a PEG ratio of 0.71 and a beta of 1.84. BrightSpring Health Services has a 1 year low of $25.06 and a 1 year high of $73.75. The stock has a 50 day simple moving average of $64.79 and a 200-day simple moving average of $55.96.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.45 EPS for the quarter, beating the consensus estimate 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 business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the previous year, the firm earned $0.22 EPS. BrightSpring Health Services’s quarterly revenue was up 23.0% on a year-over-year basis. On average, sell-side analysts predict that BrightSpring Health Services will post 1.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Allworth Financial LP bought a new stake in BrightSpring Health Services during the 2nd quarter worth approximately $28,000. IFP Advisors Inc raised its position in BrightSpring Health Services by 204.5% in the 2nd quarter. IFP Advisors Inc now owns 606 shares of the company’s stock valued at $42,000 after purchasing an additional 407 shares during the last quarter. GHP Investment Advisors Inc. bought a new position in BrightSpring Health Services in the 1st quarter valued at $31,000. Kilter Group LLC acquired a new position in BrightSpring Health Services in the second quarter worth $50,000. Finally, Public Employees Retirement System of Ohio acquired a new position in BrightSpring Health Services in the second quarter worth $63,000.

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.