BrightSpring Health Services (NASDAQ:BTSG) Sees Unusually-High Trading Volume – Here’s What Happened

BrightSpring Health Services, Inc. (NASDAQ:BTSG) saw an uptick in trading volume on Thursday . 2,525,745 shares changed hands during mid-day trading, an increase of 3% from the previous session’s volume of 2,444,837 shares.The stock last traded at $58.82 and had previously closed at $60.88.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BTSG. Morgan Stanley raised their price target on BrightSpring Health Services from $62.00 to $71.00 and gave the company an “overweight” rating in a research report on Tuesday. KeyCorp raised their price target on BrightSpring Health Services from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Weiss Ratings upgraded BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. BTIG Research raised their price target on BrightSpring Health Services from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Finally, BMO Capital Markets set a $70.00 price target on BrightSpring Health Services in a research report on Thursday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $57.64.

BrightSpring Health Services Stock Down 3.8%

The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.38 and a current ratio of 1.74. The company has a market cap of $11.36 billion, a PE ratio of 41.55, a PEG ratio of 0.78 and a beta of 1.87. The firm has a fifty day simple moving average of $50.72 and a 200 day simple moving average of $42.71.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.29 by $0.10. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The firm’s revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 EPS. Equities research analysts predict that BrightSpring Health Services, Inc. will post 1.64 EPS for the current year.

Institutional Trading of BrightSpring Health Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC lifted its holdings in shares of BrightSpring Health Services by 17.5% during the 4th quarter. CWM LLC now owns 1,874 shares of the company’s stock valued at $70,000 after buying an additional 279 shares during the last quarter. State of Wyoming lifted its holdings in shares of BrightSpring Health Services by 4.5% during the first quarter. State of Wyoming now owns 7,776 shares of the company’s stock worth $331,000 after buying an additional 336 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of BrightSpring Health Services by 17.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,826 shares of the company’s stock worth $143,000 after buying an additional 565 shares during the last quarter. Moran Wealth Management LLC lifted its holdings in shares of BrightSpring Health Services by 9.0% during the first quarter. Moran Wealth Management LLC now owns 6,925 shares of the company’s stock worth $295,000 after buying an additional 572 shares during the last quarter. Finally, GHP Investment Advisors Inc. bought a new stake in shares of BrightSpring Health Services during the first quarter valued at approximately $31,000.

About BrightSpring Health Services

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.