BrightSpring Health Services (NASDAQ:BTSG) Trading Down 9% – Here’s Why

BrightSpring Health Services, Inc. (NASDAQ:BTSG)’s share price was down 9% during trading on Tuesday . The company traded as low as $20.52 and last traded at $21.72. Approximately 1,303,037 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 1,458,752 shares. The stock had previously closed at $23.86.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Morgan Stanley increased their price objective on BrightSpring Health Services from $20.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Mizuho set a $26.00 price target on BrightSpring Health Services in a research note on Monday, May 5th. Finally, Wells Fargo & Company boosted their price target on BrightSpring Health Services from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 13th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.56.

BrightSpring Health Services Stock Performance

The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.97 and a current ratio of 1.35. The firm’s 50 day moving average is $20.38 and its 200-day moving average is $19.56. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of -84.56 and a beta of 2.58.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings data on Friday, May 2nd. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.10. BrightSpring Health Services had a negative net margin of 0.38% and a positive return on equity of 4.16%. The company had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter in the previous year, the company earned $0.12 earnings per share. The firm’s revenue for the quarter was up 25.9% on a year-over-year basis. Analysts forecast 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 institutional investors and hedge funds have recently made changes to their positions in BTSG. Rhumbline Advisers grew its stake in BrightSpring Health Services by 4.8% in the 1st quarter. Rhumbline Advisers now owns 77,100 shares of the company’s stock valued at $1,395,000 after acquiring an additional 3,517 shares during the period. Strs Ohio acquired a new stake in shares of BrightSpring Health Services in the first quarter valued at about $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of BrightSpring Health Services by 11.0% during 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 purchasing an additional 14,586 shares in the last quarter. Millennium Management LLC increased its stake in shares of BrightSpring Health Services by 0.3% during the first quarter. Millennium Management LLC now owns 577,885 shares of the company’s stock worth $10,454,000 after purchasing an additional 1,967 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of BrightSpring Health Services by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,429 shares of the company’s stock worth $587,000 after purchasing an additional 1,780 shares during the last quarter.

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.