Wells Fargo & Company Forecasts Strong Price Appreciation for BrightSpring Health Services (NASDAQ:BTSG) Stock

BrightSpring Health Services (NASDAQ:BTSG) had its price target lifted by Wells Fargo & Company from $17.00 to $21.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also issued reports about the stock. Mizuho increased their target price on shares of BrightSpring Health Services from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. The Goldman Sachs Group reduced their price objective on shares of BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, August 9th. KeyCorp assumed coverage on shares of BrightSpring Health Services in a research note on Friday, October 11th. They set a “sector weight” rating on the stock. UBS Group increased their price target on BrightSpring Health Services from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Guggenheim boosted their price objective on BrightSpring Health Services from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $17.21.

BrightSpring Health Services Stock Up 1.3 %

BTSG opened at $19.30 on Wednesday. The firm’s 50 day simple moving average is $16.68 and its two-hundred day simple moving average is $13.50. The company has a market capitalization of $3.36 billion and a PE ratio of -73.27. BrightSpring Health Services has a 1-year low of $7.85 and a 1-year high of $20.25. The company has a current ratio of 1.35, a quick ratio of 0.97 and a debt-to-equity ratio of 1.63.

BrightSpring Health Services (NASDAQ:BTSG) last announced its earnings results on Friday, November 1st. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). BrightSpring Health Services had a positive return on equity of 4.16% and a negative net margin of 0.38%. The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.72 billion. The firm’s quarterly revenue was up 28.8% on a year-over-year basis. As a group, equities analysts forecast that BrightSpring Health Services will post 0.59 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was bought at an average price of $11.13 per share, for a total transaction of $129,330,577.74. Following the completion of the transaction, the insider now owns 92,959,984 shares in the company, valued at approximately $1,034,644,621.92. The trade was a 14.29 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

Institutional Investors Weigh In On BrightSpring Health Services

Several institutional investors have recently modified their holdings of the stock. nVerses Capital LLC bought a new position in shares of BrightSpring Health Services during the 2nd quarter valued at approximately $55,000. California State Teachers Retirement System bought a new position in BrightSpring Health Services during the first quarter valued at $59,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of BrightSpring Health Services in the second quarter valued at $126,000. Intech Investment Management LLC bought a new stake in shares of BrightSpring Health Services in the 3rd quarter worth about $159,000. Finally, Arizona State Retirement System purchased a new position in shares of BrightSpring Health Services during the 2nd quarter worth about $163,000.

About BrightSpring Health Services

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.