BrightSpring Health Services (NASDAQ:BTSG) PT Raised to $18.00

BrightSpring Health Services (NASDAQ:BTSG) had its price objective lifted by analysts at Guggenheim from $15.00 to $18.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price target points to a potential upside of 24.65% from the stock’s previous close.

BTSG has been the subject of a number of other reports. The Goldman Sachs Group decreased their price objective on BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating for the company in a report on Friday, August 9th. BTIG Research started coverage on BrightSpring Health Services in a research report on Friday, June 21st. They issued a “buy” rating and a $15.00 price objective for the company. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $15.59.

BrightSpring Health Services Stock Performance

BrightSpring Health Services stock traded down $0.24 on Tuesday, reaching $14.44. The company’s stock had a trading volume of 616,496 shares, compared to its average volume of 1,491,856. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.33 and a quick ratio of 1.00. The business’s fifty day moving average price is $12.89 and its 200 day moving average price is $11.56. BrightSpring Health Services has a twelve month low of $7.85 and a twelve month high of $15.47.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings results on Friday, August 2nd. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.08). The firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.61 billion. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. As a group, equities research analysts forecast that BrightSpring Health Services will post 0.57 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Kkr Group Partnership L.P. bought 11,619,998 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were purchased at an average cost of $11.13 per share, with a total value of $129,330,577.74. Following the acquisition, the insider now owns 92,959,984 shares of the company’s stock, valued at $1,034,644,621.92. The purchase was disclosed in a filing with the SEC, which is available through this link.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. nVerses Capital LLC acquired a new position in shares of BrightSpring Health Services in the 2nd quarter valued at about $55,000. Ameritas Investment Partners Inc. purchased a new stake in shares of BrightSpring Health Services during the first quarter valued at approximately $58,000. California State Teachers Retirement System purchased a new stake in shares of BrightSpring Health Services during the first quarter valued at approximately $59,000. The Manufacturers Life Insurance Company increased its position in shares of BrightSpring Health Services by 10.2% during the second quarter. The Manufacturers Life Insurance Company now owns 117,026 shares of the company’s stock valued at $1,329,000 after acquiring an additional 10,854 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of BrightSpring Health Services during the second quarter valued at approximately $126,000.

BrightSpring Health Services Company Profile

BrightSpring Health Services, Inc operates a home and community-based healthcare services platform in the United States. The company's platform focuses on delivering pharmacy and provider services, including clinical and supportive care in home and community settings to Medicare, Medicaid, and insured populations.