BrightSpring Health Services (NASDAQ:BTSG) Price Target Raised to $48.00

BrightSpring Health Services (NASDAQ:BTSG) had its price objective boosted by Morgan Stanley from $40.00 to $48.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 15.33% from the company’s previous close.

A number of other analysts have also recently weighed in on the stock. CJS Securities raised shares of BrightSpring Health Services to a “strong-buy” rating in a report on Thursday, December 11th. Cantor Fitzgerald set a $49.00 price target on shares of BrightSpring Health Services in a report on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of BrightSpring Health Services in a research report on Monday, December 29th. TD Cowen reissued a “buy” rating on shares of BrightSpring Health Services in a research report on Monday. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $46.00 target price on shares of BrightSpring Health Services in a report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $44.08.

BrightSpring Health Services Stock Up 2.4%

NASDAQ BTSG traded up $0.97 during trading on Wednesday, hitting $41.62. 2,853,559 shares of the company traded hands, compared to its average volume of 1,959,274. BrightSpring Health Services has a 12 month low of $15.48 and a 12 month high of $44.87. The business has a fifty day simple moving average of $39.26 and a 200 day simple moving average of $33.67. The company has a market capitalization of $8.06 billion, a P/E ratio of 47.30, a PEG ratio of 0.65 and a beta of 2.31. The company has a current ratio of 1.57, a quick ratio of 1.12 and a debt-to-equity ratio of 1.32.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings data on Friday, February 27th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). BrightSpring Health Services had a net margin of 1.48% and a return on equity of 12.66%. The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period in the prior year, the company posted $0.11 EPS. The business’s revenue was up 29.3% on a year-over-year basis. As a group, sell-side analysts predict that BrightSpring Health Services will post 0.59 EPS for the current year.

Hedge Funds Weigh In On BrightSpring Health Services

Hedge funds and other institutional investors have recently made changes to their positions in the business. NBC Securities Inc. bought a new stake in BrightSpring Health Services during the 4th quarter worth approximately $29,000. Salomon & Ludwin LLC bought a new position in BrightSpring Health Services in the 4th quarter valued at $30,000. EverSource Wealth Advisors LLC acquired a new position in BrightSpring Health Services in the second quarter worth $43,000. CWM LLC grew its holdings in shares of BrightSpring Health Services by 105.3% during the third quarter. CWM LLC now owns 1,595 shares of the company’s stock worth $47,000 after purchasing an additional 818 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of BrightSpring Health Services by 112.8% in the fourth quarter. Farther Finance Advisors LLC now owns 1,717 shares of the company’s stock valued at $64,000 after buying an additional 910 shares in the last quarter.

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.