BrightSpring Health Services (NASDAQ:BTSG) Price Target Raised to $80.00 at Morgan Stanley

BrightSpring Health Services (NASDAQ:BTSG) had its target price hoisted by Morgan Stanley from $71.00 to $80.00 in a research note released on Tuesday morning, Marketbeat reports. Morgan Stanley currently has an overweight rating on the stock.

BTSG has been the topic of several other reports. KeyCorp increased their price objective on BrightSpring Health Services from $60.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday. Raymond James Financial started coverage on BrightSpring Health Services in a research note on Thursday, July 9th. They issued an “outperform” rating and a $80.00 target price for the company. Wells Fargo & Company increased their price target on shares of BrightSpring Health Services from $61.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday. BMO Capital Markets set a $70.00 price target on shares of BrightSpring Health Services in a research note on Thursday, May 21st. Finally, Leerink Partners restated an “outperform” rating and issued a $49.00 price objective on shares of BrightSpring Health Services in a report on Wednesday, March 18th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $70.12.

BrightSpring Health Services Stock Up 0.0%

BTSG stock opened at $69.67 on Tuesday. The company has a current ratio of 1.74, a quick ratio of 1.38 and a debt-to-equity ratio of 1.24. BrightSpring Health Services has a 1-year low of $19.01 and a 1-year high of $72.22. The stock has a market cap of $13.75 billion, a price-to-earnings ratio of 49.41, a price-to-earnings-growth ratio of 0.94 and a beta of 1.79. The company’s 50 day moving average is $62.83 and its 200 day moving average is $49.06.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the prior year, the firm earned $0.14 EPS. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. Sell-side analysts predict that BrightSpring Health Services will post 1.68 EPS for the current fiscal year.

Insider Transactions at BrightSpring Health Services

In related news, insider Jon B. Rousseau sold 130,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider directly owned 1,194,503 shares in the company, valued at $70,177,051.25. This trade represents a 9.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lisa A. Nalley sold 35,000 shares of BrightSpring Health Services stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $2,056,250.00. Following the completion of the transaction, the insider directly owned 131,948 shares in the company, valued at $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.80% of the company’s stock.

Institutional Trading of BrightSpring Health Services

A number of institutional investors have recently made changes to their positions in the stock. CWM LLC grew its stake in shares of BrightSpring Health Services by 17.5% in the 4th quarter. CWM LLC now owns 1,874 shares of the company’s stock worth $70,000 after buying an additional 279 shares during the last quarter. State of Wyoming raised its stake in BrightSpring Health Services by 4.5% during the first quarter. State of Wyoming now owns 7,776 shares of the company’s stock valued at $331,000 after buying an additional 336 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in BrightSpring Health Services by 17.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,826 shares of the company’s stock worth $143,000 after acquiring an additional 565 shares in the last quarter. Moran Wealth Management LLC boosted its holdings in BrightSpring Health Services by 9.0% in the first quarter. Moran Wealth Management LLC now owns 6,925 shares of the company’s stock worth $295,000 after acquiring an additional 572 shares in the last quarter. Finally, GHP Investment Advisors Inc. purchased a new stake in shares of BrightSpring Health Services in the first quarter worth $31,000.

About BrightSpring Health Services

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.