Zacks Research Upgrades BrightSpring Health Services (NASDAQ:BTSG) to “Strong-Buy”

BrightSpring Health Services (NASDAQ:BTSG) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday, Zacks reports.

A number of other brokerages have also issued reports on BTSG. Morgan Stanley lifted their target price on shares of BrightSpring Health Services from $71.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. TD Cowen boosted their price target on shares of BrightSpring Health Services from $81.00 to $84.00 and gave the company a “buy” rating in a report on Monday, November 2nd. Leerink Partners upped their price target on shares of BrightSpring Health Services from $72.00 to $92.00 and gave the stock an “outperform” rating in a research note on Monday, November 2nd. Wall Street Zen upgraded BrightSpring Health Services from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 31st. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $70.00 price objective on shares of BrightSpring Health Services in a research report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating and seventeen have issued a Buy rating to the stock. Based on data from MarketBeat, BrightSpring Health Services has a consensus rating of “Buy” and an average target price of $77.81.

BrightSpring Health Services Stock Up 2.0%

Shares of NASDAQ BTSG traded up $1.29 during mid-day trading on Thursday, reaching $67.15. The company had a trading volume of 2,482,830 shares, compared to its average volume of 2,300,796. The stock has a fifty day moving average of $60.76 and a two-hundred day moving average of $55.26. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.22 and a current ratio of 1.62. The company has a market capitalization of $13.36 billion, a price-to-earnings ratio of 36.30, a PEG ratio of 0.80 and a beta of 1.77. BrightSpring Health Services has a 12-month low of $30.64 and a 12-month high of $73.75.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings results on Friday, October 30th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.47 by $0.07. The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $3.88 billion. BrightSpring Health Services had a net margin of 2.69% and a return on equity of 18.56%. BrightSpring Health Services’s quarterly revenue was up 26.4% on a year-over-year basis. As a group, equities research analysts expect that BrightSpring Health Services will post 1.70 EPS for the current year.

Hedge Funds Weigh In On BrightSpring Health Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company acquired a new stake in BrightSpring Health Services in the second quarter valued at approximately $239,377,000. Bank of America Corp DE acquired a new position in shares of BrightSpring Health Services during the 2nd quarter worth $127,475,000. Bank of New York Mellon Corp bought a new position in shares of BrightSpring Health Services during the 2nd quarter valued at $118,162,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of BrightSpring Health Services by 109.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,370,440 shares of the company’s stock valued at $58,394,000 after purchasing an additional 716,949 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of BrightSpring Health Services by 236.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 860,134 shares of the company’s stock valued at $36,151,000 after purchasing an additional 604,232 shares during the last quarter.

About BrightSpring Health Services

BrightSpring Health Services (NASDAQ:BTSG) is a Louisville, Kentucky-based provider of home- and community-based health services and pharmacy services. The company focuses on supporting individuals with complex or chronic care needs, including older adults and people with disabilities, through care delivered in homes, communities and other non-hospital settings.

Its services include home health, hospice, personal care, behavioral health, primary care, rehabilitation and community living programs.