Mizuho Forecasts Strong Price Appreciation for BrightSpring Health Services (NASDAQ:BTSG) Stock

BrightSpring Health Services (NASDAQ:BTSG) had its target price lifted by equities researchers at Mizuho from $50.00 to $52.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price target would suggest a potential upside of 23.52% from the company’s current price.

A number of other equities analysts have also commented on the stock. CJS Securities upgraded shares of BrightSpring Health Services to a “strong-buy” rating in a report on Thursday, December 11th. Wells Fargo & Company increased their price objective on BrightSpring Health Services from $43.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of BrightSpring Health Services in a research report on Monday, December 29th. William Blair started coverage on BrightSpring Health Services in a report on Monday, December 8th. They set an “outperform” rating on the stock. Finally, Cantor Fitzgerald set a $49.00 price target on BrightSpring Health Services in a research report 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $44.23.

BrightSpring Health Services Stock Performance

BrightSpring Health Services stock opened at $42.10 on Wednesday. The business has a 50 day moving average of $39.79 and a 200-day moving average of $34.86. The company has a market capitalization of $8.15 billion, a P/E ratio of 47.84, a P/E/G ratio of 0.51 and a beta of 2.31. BrightSpring Health Services has a 1 year low of $15.48 and a 1 year high of $44.87. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.57 and a quick ratio of 1.12.

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

Insider Buying and Selling

In related news, insider Jon B. Rousseau sold 220,000 shares of BrightSpring Health Services stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total transaction of $9,053,000.00. Following the completion of the transaction, the insider owned 1,023,880 shares of the company’s stock, valued at $42,132,662. This trade represents a 17.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lisa A. Nalley sold 30,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total transaction of $1,234,500.00. Following the completion of the transaction, the insider owned 110,594 shares in the company, valued at approximately $4,550,943.10. The trade was a 21.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 285,000 shares of company stock valued at $11,727,750 over the last quarter. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. PEAK6 LLC bought a new stake in shares of BrightSpring Health Services during the 4th quarter valued at about $206,000. Mcguire Capital Advisors Inc. bought a new stake in BrightSpring Health Services in the fourth quarter worth approximately $288,000. T. Rowe Price Investment Management Inc. lifted its stake in BrightSpring Health Services by 21.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,123,865 shares of the company’s stock valued at $229,339,000 after buying an additional 1,091,757 shares during the period. Invesco Ltd. lifted its stake in BrightSpring Health Services by 13.4% in the fourth quarter. Invesco Ltd. now owns 10,595,232 shares of the company’s stock valued at $396,791,000 after buying an additional 1,248,107 shares during the period. Finally, Virtue Capital Management LLC boosted its holdings in shares of BrightSpring Health Services by 45.9% during the 4th quarter. Virtue Capital Management LLC now owns 32,984 shares of the company’s stock worth $1,267,000 after buying an additional 10,371 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.