Wells Fargo & Company Increases BrightSpring Health Services (NASDAQ:BTSG) Price Target to $16.00

BrightSpring Health Services (NASDAQ:BTSG) had its price objective raised by equities research analysts at Wells Fargo & Company from $15.00 to $16.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 39.37% from the company’s previous close.

BTSG has been the subject of a number of other reports. HSBC assumed coverage on BrightSpring Health Services in a research note on Wednesday, March 6th. They issued a “buy” rating and a $13.00 target price for the company. UBS Group assumed coverage on BrightSpring Health Services in a research note on Tuesday, February 20th. They issued a “buy” rating and a $15.00 price target for the company. The Goldman Sachs Group lowered their target price on shares of BrightSpring Health Services from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. SVB Leerink assumed coverage on BrightSpring Health Services in a report on Tuesday, February 20th. They set an “outperform” rating and a $15.00 price target on the stock. Finally, Jefferies Financial Group initiated coverage on BrightSpring Health Services in a research note on Tuesday, February 20th. They issued a “buy” rating and a $18.00 price objective on the stock. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, BrightSpring Health Services has a consensus rating of “Buy” and an average target price of $15.85.

BrightSpring Health Services Stock Up 0.6 %

Shares of NASDAQ:BTSG opened at $11.48 on Monday. BrightSpring Health Services has a 52-week low of $7.85 and a 52-week high of $12.14. The company has a debt-to-equity ratio of 5.73, a current ratio of 1.17 and a quick ratio of 0.84. The firm has a 50 day moving average price of $10.03.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.06. The business had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the prior year, the firm earned ($0.10) earnings per share. BrightSpring Health Services’s revenue for the quarter was up 27.0% compared to the same quarter last year. Research analysts anticipate that BrightSpring Health Services will post 0.67 EPS for the current fiscal year.

Insider Activity at BrightSpring Health Services

In related news, insider James F. Mattingly, Jr. acquired 12,280 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average cost of $8.18 per share, for a total transaction of $100,450.40. Following the completion of the purchase, the insider now directly owns 128,700 shares of the company’s stock, valued at approximately $1,052,766. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other BrightSpring Health Services news, insider James F. Mattingly, Jr. purchased 12,280 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $8.18 per share, with a total value of $100,450.40. Following the acquisition, the insider now directly owns 128,700 shares of the company’s stock, valued at approximately $1,052,766. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Jennifer A. Phipps purchased 12,300 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $8.14 per share, with a total value of $100,122.00. Following the completion of the acquisition, the chief accounting officer now directly owns 165,618 shares of the company’s stock, valued at $1,348,130.52. The disclosure for this purchase can be found here.

Hedge Funds Weigh In On BrightSpring Health Services

Several hedge funds have recently added to or reduced their stakes in BTSG. Seven Grand Managers LLC acquired a new position in shares of BrightSpring Health Services in the 1st quarter valued at $1,630,000. BNP Paribas Financial Markets bought a new position in BrightSpring Health Services in the first quarter valued at approximately $280,000. Finally, Capstone Investment Advisors LLC acquired a new position in BrightSpring Health Services in the 1st quarter worth $9,722,000.

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.