BrightSpring Health Services (NASDAQ:BTSG) Lowered to Buy Rating by Wall Street Zen

BrightSpring Health Services (NASDAQ:BTSG) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

A number of other equities research analysts also recently issued reports on BTSG. UBS Group upped their price objective on shares of BrightSpring Health Services from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Morgan Stanley lifted their target price on shares of BrightSpring Health Services from $62.00 to $71.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 2nd. Wells Fargo & Company boosted their target price on BrightSpring Health Services from $50.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. The Goldman Sachs Group started coverage on BrightSpring Health Services in a report on Monday, June 8th. They issued a “buy” rating and a $71.00 target price for the company. Finally, Bank of America increased their price target on BrightSpring Health Services from $66.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the stock. According to data from MarketBeat, BrightSpring Health Services presently has an average rating of “Buy” and a consensus price target of $63.67.

BrightSpring Health Services Price Performance

BTSG opened at $69.03 on Friday. BrightSpring Health Services has a 1 year low of $19.01 and a 1 year high of $70.91. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.74 and a quick ratio of 1.38. The company has a market capitalization of $13.62 billion, a price-to-earnings ratio of 48.96, a P/E/G ratio of 0.89 and a beta of 1.79. The firm’s fifty day moving average price is $59.74 and its two-hundred day moving average price is $47.34.

BrightSpring Health Services (NASDAQ:BTSG) last announced its earnings results on Friday, May 1st. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.29 by $0.10. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the prior year, the company posted $0.14 earnings per share. The firm’s revenue for the quarter was up 25.6% on a year-over-year basis. As a group, analysts anticipate that BrightSpring Health Services will post 1.67 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Lisa A. Nalley sold 35,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $2,056,250.00. Following the completion of the sale, the insider owned 131,948 shares in the company, valued at approximately $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the completion of the sale, the insider directly owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. This represents a 9.82% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BrightSpring Health Services

A number of hedge funds have recently modified their holdings of BTSG. AQR Capital Management LLC bought a new stake in shares of BrightSpring Health Services in the 1st quarter worth approximately $276,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in BrightSpring Health Services by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,429 shares of the company’s stock valued at $587,000 after purchasing an additional 1,780 shares during the period. Millennium Management LLC grew its holdings in BrightSpring Health Services by 0.3% during the first quarter. Millennium Management LLC now owns 577,885 shares of the company’s stock valued at $10,454,000 after purchasing an additional 1,967 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in BrightSpring Health Services by 11.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,280 shares of the company’s stock worth $2,664,000 after buying an additional 14,586 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new stake in BrightSpring Health Services in the second quarter worth $351,000.

BrightSpring Health Services Company Profile

BrightSpring Health Services (NASDAQ: BTSG) is a leading provider of home and community-based care and workforce solutions aimed at seniors, individuals with disabilities and those facing behavioral health challenges. The company’s operations encompass a broad spectrum of services, including personal care, skilled nursing, therapy, habilitation and supported living, as well as specialized behavioral health programs delivered through both clinical and non-clinical channels.

Through its network of subsidiary brands, BrightSpring offers integrated care in the patient’s home environment, fostering independence and improving quality of life.