TD Cowen Initiates Coverage on BrightSpring Health Services (NASDAQ:BTSG)

TD Cowen started coverage on shares of BrightSpring Health Services (NASDAQ:BTSG) in a research report sent to investors on Monday, MarketBeat Ratings reports. The firm issued a buy rating and a $37.00 price target on the stock.

Several other equities analysts have also commented on the company. Wells Fargo & Company upped their target price on BrightSpring Health Services from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Tuesday, May 13th. Mizuho set a $26.00 price objective on shares of BrightSpring Health Services in a research note on Monday, May 5th. Finally, Morgan Stanley increased their price objective on shares of BrightSpring Health Services from $20.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, BrightSpring Health Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.90.

BrightSpring Health Services Stock Performance

Shares of NASDAQ BTSG opened at $22.77 on Monday. The company has a 50-day simple moving average of $21.31 and a 200-day simple moving average of $19.78. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.73 and a quick ratio of 1.37. The company has a market cap of $4.00 billion, a PE ratio of 81.32 and a beta of 2.58. BrightSpring Health Services has a 12 month low of $10.15 and a 12 month high of $25.57.

BrightSpring Health Services (NASDAQ:BTSG) last released its earnings results on Friday, May 2nd. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.09 by $0.10. BrightSpring Health Services had a net margin of 0.49% and a return on equity of 7.76%. The firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the previous year, the company earned $0.12 EPS. BrightSpring Health Services’s revenue for the quarter was up 25.9% on a year-over-year basis. On average, equities analysts anticipate that BrightSpring Health Services will post 0.59 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Jon B. Rousseau sold 531,840 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $21.75, for a total value of $11,567,520.00. Following the completion of the sale, the insider now owns 1,184,133 shares of the company’s stock, valued at $25,754,892.75. This represents a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Phoenix Aggregator L.P. Kkr sold 13,288,101 shares of the firm’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $21.15, for a total transaction of $281,043,336.15. Following the completion of the transaction, the insider now directly owns 79,671,883 shares in the company, valued at approximately $1,685,060,325.45. This represents a 14.29% decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BTSG. Rhumbline Advisers boosted its position in shares of BrightSpring Health Services by 1.5% in the fourth quarter. Rhumbline Advisers now owns 73,583 shares of the company’s stock worth $1,253,000 after buying an additional 1,118 shares during the period. Bank of New York Mellon Corp lifted its position in BrightSpring Health Services by 28.5% during the 4th quarter. Bank of New York Mellon Corp now owns 157,213 shares of the company’s stock worth $2,677,000 after acquiring an additional 34,907 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in BrightSpring Health Services by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 450,993 shares of the company’s stock worth $7,680,000 after acquiring an additional 10,658 shares during the period. Raymond James Financial Inc. purchased a new position in BrightSpring Health Services in the 4th quarter worth approximately $18,257,000. Finally, Lisanti Capital Growth LLC grew its position in BrightSpring Health Services by 4.6% in the fourth quarter. Lisanti Capital Growth LLC now owns 331,910 shares of the company’s stock valued at $5,652,000 after acquiring an additional 14,565 shares in the last quarter.

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.