Zacks Research Downgrades BrightSpring Health Services (NASDAQ:BTSG) to Hold

BrightSpring Health Services (NASDAQ:BTSG) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other brokerages have also recently commented on BTSG. BMO Capital Markets set a $70.00 target price on BrightSpring Health Services in a report on Thursday, May 21st. KeyCorp upped their price target on BrightSpring Health Services from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Weiss Ratings raised BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Mizuho lifted their price objective on BrightSpring Health Services from $52.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Finally, Stephens boosted their price objective on BrightSpring Health Services from $53.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $63.67.

BrightSpring Health Services Stock Performance

Shares of NASDAQ BTSG opened at $70.17 on Monday. BrightSpring Health Services has a 12-month low of $19.01 and a 12-month high of $72.06. The firm has a market capitalization of $13.84 billion, a price-to-earnings ratio of 49.77, a price-to-earnings-growth ratio of 0.97 and a beta of 1.79. The company has a current ratio of 1.74, a quick ratio of 1.38 and a debt-to-equity ratio of 1.24. The firm has a 50 day moving average of $60.64 and a 200 day moving average of $47.90.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings results on Friday, May 1st. The company reported $0.39 earnings per share 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 the consensus estimate of $3.39 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The company’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period last year, the firm earned $0.14 earnings per share. On average, research analysts anticipate that BrightSpring Health Services will post 1.64 earnings per share for the current year.

Insider Buying and Selling at BrightSpring Health Services

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. CWM LLC raised its position in shares of BrightSpring Health Services by 17.5% during the fourth 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 boosted its position 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 acquiring an additional 336 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position 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 acquiring an additional 565 shares during the last quarter. Moran Wealth Management LLC grew its stake in BrightSpring Health Services by 9.0% during the first quarter. Moran Wealth Management LLC now owns 6,925 shares of the company’s stock valued at $295,000 after acquiring an additional 572 shares in the last quarter. Finally, GHP Investment Advisors Inc. purchased a new position in BrightSpring Health Services during the first quarter valued at $31,000.

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.