BrightSpring Health Services (NASDAQ:BTSG) Shares Gap Up – Time to Buy?

BrightSpring Health Services, Inc. (NASDAQ:BTSG)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $39.05, but opened at $40.66. BrightSpring Health Services shares last traded at $41.0460, with a volume of 667,182 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on BTSG shares. KeyCorp raised BrightSpring Health Services from a “sector weight” rating to an “overweight” rating and set a $45.00 price target for the company in a report on Friday, December 12th. TD Cowen reissued a “buy” rating on shares of BrightSpring Health Services in a report on Monday, March 2nd. William Blair assumed coverage on BrightSpring Health Services in a research note on Monday, December 8th. They set an “outperform” rating for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of BrightSpring Health Services in a research report on Monday, December 29th. Finally, Wells Fargo & Company lifted their price target on shares of BrightSpring Health Services from $43.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $44.08.

BrightSpring Health Services Trading Up 4.4%

The company has a fifty day moving average of $39.76 and a 200-day moving average of $34.73. The company has a current ratio of 1.57, a quick ratio of 1.12 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $7.89 billion, a price-to-earnings ratio of 46.41, a PEG ratio of 0.50 and a beta of 2.30.

BrightSpring Health Services (NASDAQ:BTSG) last announced its earnings results on Friday, February 27th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.38 billion. BrightSpring Health Services had a net margin of 1.48% and a return on equity of 12.66%. BrightSpring Health Services’s revenue was up 29.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.11 EPS. As a group, equities research analysts anticipate that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Activity at BrightSpring Health Services

In other BrightSpring Health Services news, insider Lisa A. Nalley sold 30,000 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total value of $1,234,500.00. Following the transaction, the insider owned 110,594 shares in the company, valued at approximately $4,550,943.10. This trade represents a 21.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jon B. Rousseau sold 220,000 shares of BrightSpring Health Services stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total transaction of $9,053,000.00. Following the sale, the insider directly owned 1,023,880 shares in the company, valued at approximately $42,132,662. This trade represents a 17.69% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 285,000 shares of company stock valued at $11,727,750. 3.40% of the stock is owned by insiders.

Hedge Funds Weigh In On BrightSpring Health Services

A number of institutional investors and hedge funds have recently bought and sold shares of the business. NBC Securities Inc. purchased a new stake in BrightSpring Health Services during the 4th quarter valued at about $29,000. Salomon & Ludwin LLC purchased a new position in BrightSpring Health Services in the 4th quarter worth approximately $30,000. EverSource Wealth Advisors LLC acquired a new position in shares of BrightSpring Health Services during the 2nd quarter worth approximately $43,000. CWM LLC boosted its holdings in shares of BrightSpring Health Services by 105.3% during the 3rd 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 grew its position 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 purchasing 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.