BrightSpring Health Services (NASDAQ:BTSG) Stock Price Down 4.7% – What’s Next?

BrightSpring Health Services, Inc. (NASDAQ:BTSG) shares fell 4.7% on Tuesday . The stock traded as low as $23.03 and last traded at $22.61. 243,739 shares traded hands during trading, a decline of 85% from the average session volume of 1,601,323 shares. The stock had previously closed at $23.72.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. KeyCorp began coverage on BrightSpring Health Services in a research report on Friday, October 11th. They issued a “sector weight” rating on the stock. Morgan Stanley lifted their price objective on shares of BrightSpring Health Services from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. UBS Group increased their target price on shares of BrightSpring Health Services from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday. Wells Fargo & Company boosted their price target on shares of BrightSpring Health Services from $17.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Finally, CJS Securities assumed coverage on shares of BrightSpring Health Services in a report on Thursday, December 12th. They issued an “outperform” rating and a $27.00 price objective for the company. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.42.

BrightSpring Health Services Stock Performance

The firm has a fifty day moving average price of $18.61 and a 200 day moving average price of $15.82. The firm has a market capitalization of $4.22 billion and a PE ratio of -93.23. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 0.97.

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

Institutional Trading of BrightSpring Health Services

A number of hedge funds have recently modified their holdings of BTSG. R Squared Ltd acquired a new position in BrightSpring Health Services during the fourth quarter valued at $74,000. Intech Investment Management LLC purchased a new position in BrightSpring Health Services during the 3rd quarter valued at about $159,000. nVerses Capital LLC increased its holdings in shares of BrightSpring Health Services by 195.8% in the 3rd quarter. nVerses Capital LLC now owns 14,200 shares of the company’s stock valued at $208,000 after purchasing an additional 9,400 shares during the period. American Century Companies Inc. acquired a new stake in shares of BrightSpring Health Services during the second quarter worth approximately $216,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of BrightSpring Health Services by 5.0% during the third quarter. BNP Paribas Financial Markets now owns 21,329 shares of the company’s stock worth $313,000 after purchasing an additional 1,011 shares during the period.

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.