Raymond James Financial Upgrades BrightSpring Health Services (NASDAQ:BTSG) to “Moderate Buy”

BrightSpring Health Services (NASDAQ:BTSG) was upgraded by equities research analysts at Raymond James Financial to a “moderate buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. TD Cowen raised their price objective on BrightSpring Health Services from $65.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Bank of America boosted their target price on BrightSpring Health Services from $66.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Weiss Ratings raised BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Leerink Partners restated an “outperform” rating and issued a $49.00 price target on shares of BrightSpring Health Services in a research report on Wednesday, March 18th. Finally, Wells Fargo & Company lifted their price target on BrightSpring Health Services from $50.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $66.56.

BrightSpring Health Services Price Performance

Shares of NASDAQ BTSG traded down $0.15 during midday trading on Thursday, hitting $71.43. The company had a trading volume of 1,817,742 shares, compared to its average volume of 3,244,908. The firm has a market capitalization of $14.09 billion, a price-to-earnings ratio of 50.66, a price-to-earnings-growth ratio of 0.97 and a beta of 1.79. BrightSpring Health Services has a twelve month low of $19.01 and a twelve month high of $72.06. The business has a 50-day simple moving average of $62.03 and a two-hundred day simple moving average of $48.54. 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, beating analysts’ consensus estimates of $0.29 by $0.10. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same period last year, the company posted $0.14 earnings per share. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. Equities research analysts anticipate that BrightSpring Health Services will post 1.66 earnings per share for the current year.

Insider Buying and Selling

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 130,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the completion of the transaction, the insider owned 1,194,503 shares of the company’s stock, valued at approximately $70,177,051.25. This trade represents a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Lisa A. Nalley sold 35,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was 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 directly owned 131,948 shares of the company’s stock, valued at approximately $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.80% of the stock is currently owned by corporate insiders.

Institutional Trading of BrightSpring Health Services

Large investors have recently made changes to their positions in the stock. Ausbil Investment Management Ltd acquired a new position in BrightSpring Health Services in the 2nd quarter valued at about $2,005,000. Handelsbanken Fonder AB lifted its holdings in BrightSpring Health Services by 40.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 36,900 shares of the company’s stock valued at $2,573,000 after purchasing an additional 10,700 shares in the last quarter. MRA Advisory Group acquired a new stake in shares of BrightSpring Health Services during the 2nd quarter worth about $889,000. GAMMA Investing LLC boosted its stake in shares of BrightSpring Health Services by 27.9% during the 2nd quarter. GAMMA Investing LLC now owns 3,721 shares of the company’s stock worth $260,000 after purchasing an additional 811 shares during the last quarter. Finally, Avior Wealth Management LLC purchased a new stake in shares of BrightSpring Health Services during the second quarter worth about $201,000.

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.