Analysts Set BrightSpring Health Services, Inc. (NASDAQ:BTSG) Target Price at $59.60

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) have earned a consensus recommendation of “Buy” from the eighteen analysts that are presently covering the company, MarketBeat reports. Sixteen research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $61.2667.

A number of brokerages have issued reports on BTSG. Weiss Ratings raised shares of BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Leerink Partners reiterated an “outperform” rating and set a $49.00 price objective on shares of BrightSpring Health Services in a research note on Wednesday, March 18th. Morgan Stanley boosted their price objective on shares of BrightSpring Health Services from $62.00 to $71.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 2nd. 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. Finally, Cantor Fitzgerald set a $49.00 target price on shares of BrightSpring Health Services in a research report on Monday, March 2nd.

Insiders Place Their Bets

In related news, insider Jon B. Rousseau sold 130,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 1,194,503 shares of the company’s stock, valued at $70,177,051.25. This represents a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lisa A. Nalley sold 35,000 shares of the stock in a transaction that occurred on 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 sale, the insider directly owned 131,948 shares of the company’s stock, valued at approximately $7,751,945. This represents a 20.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BTSG. Vanguard Group Inc. lifted its holdings in BrightSpring Health Services by 30.5% in the 4th quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company’s stock worth $469,385,000 after purchasing an additional 2,928,953 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in BrightSpring Health Services by 936.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company’s stock worth $53,705,000 after purchasing an additional 2,056,920 shares during the last quarter. State Street Corp lifted its holdings in BrightSpring Health Services by 99.5% in the 4th quarter. State Street Corp now owns 4,033,149 shares of the company’s stock worth $151,041,000 after purchasing an additional 2,011,095 shares during the last quarter. Jane Street Group LLC lifted its holdings in BrightSpring Health Services by 855.4% in the 2nd quarter. Jane Street Group LLC now owns 2,076,730 shares of the company’s stock worth $48,990,000 after purchasing an additional 1,859,369 shares during the last quarter. Finally, 8 Knots Management LLC acquired a new position in shares of BrightSpring Health Services during the 3rd quarter worth about $51,244,000.

BrightSpring Health Services Stock Up 3.1%

BTSG opened at $69.70 on Friday. The business’s 50-day simple moving average is $57.03 and its 200-day simple moving average is $45.99. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.38 and a current ratio of 1.74. BrightSpring Health Services has a one year low of $19.01 and a one year high of $69.89. The stock has a market capitalization of $13.75 billion, a P/E ratio of 49.43, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87.

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

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.