The Goldman Sachs Group Upgrades BrightSpring Health Services (NASDAQ:BTSG) to “Strong-Buy”

BrightSpring Health Services (NASDAQ:BTSG) was upgraded by The Goldman Sachs Group to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Other research analysts have also issued reports about the stock. Weiss Ratings raised shares of BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Wall Street Zen lowered shares of BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 23rd. Wells Fargo & Company raised their price target on shares of BrightSpring Health Services from $50.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. BTIG Research raised their price target on shares of 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, Zacks Research raised shares of BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 3rd. Three investment analysts have rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $58.53.

BrightSpring Health Services Stock Up 3.2%

Shares of NASDAQ BTSG opened at $59.22 on Monday. The firm has a market cap of $11.68 billion, a PE ratio of 42.00, a P/E/G ratio of 0.74 and a beta of 1.87. BrightSpring Health Services has a 12-month low of $19.01 and a 12-month high of $62.11. The company’s fifty day simple moving average is $51.58 and its 200 day simple moving average is $43.27. The company has a quick ratio of 1.38, a current ratio of 1.74 and a debt-to-equity ratio of 1.24.

BrightSpring Health Services (NASDAQ:BTSG) last issued its earnings results on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.10. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.39 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. BrightSpring Health Services’s revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.14 earnings per share. As a group, sell-side analysts forecast that BrightSpring Health Services will post 1.67 earnings per share for the current fiscal year.

Insider Transactions at BrightSpring Health Services

In related news, insider Lisa A. Nalley sold 35,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $2,056,250.00. Following the transaction, the insider directly owned 131,948 shares of the company’s stock, valued at $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jon B. Rousseau sold 130,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the transaction, the insider directly owned 1,194,503 shares in the company, valued at $70,177,051.25. The trade was a 9.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.80% of the stock is owned by company insiders.

Institutional Trading of BrightSpring Health Services

A number of large investors have recently added to or reduced their stakes in BTSG. Vanguard Group Inc. increased its holdings in BrightSpring Health Services by 30.5% during the fourth quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company’s stock worth $469,385,000 after buying an additional 2,928,953 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in BrightSpring Health Services by 936.4% during the second quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company’s stock worth $53,705,000 after buying an additional 2,056,920 shares during the last quarter. State Street Corp increased its holdings in BrightSpring Health Services by 99.5% during the fourth quarter. State Street Corp now owns 4,033,149 shares of the company’s stock worth $151,041,000 after buying an additional 2,011,095 shares during the last quarter. Jane Street Group LLC increased its holdings in BrightSpring Health Services by 855.4% during the second quarter. Jane Street Group LLC now owns 2,076,730 shares of the company’s stock worth $48,990,000 after buying an additional 1,859,369 shares during the last quarter. Finally, 8 Knots Management LLC purchased a new stake in BrightSpring Health Services during the third quarter worth about $51,244,000.

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.