BrightSpring Health Services (NASDAQ:BTSG) Reaches New 52-Week High – What’s Next?

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) hit a new 52-week high during trading on Monday . The stock traded as high as $73.06 and last traded at $73.1580, with a volume of 139080 shares. The stock had previously closed at $70.69.

Analyst Ratings Changes

BTSG has been the subject of a number of research analyst reports. BTIG Research raised their price objective on BrightSpring Health Services from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. UBS Group boosted their target price on BrightSpring Health Services from $63.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Zacks Research lowered BrightSpring Health Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Raymond James Financial started coverage on BrightSpring Health Services in a report on Thursday, July 9th. They set an “outperform” rating and a $80.00 price target for the company. Finally, Wall Street Zen cut BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $70.12.

BrightSpring Health Services Trading Up 2.2%

The stock has a market cap of $14.25 billion, a P/E ratio of 51.40, a P/E/G ratio of 0.89 and a beta of 1.79. 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 stock’s fifty day moving average is $63.76 and its 200 day moving average is $49.72.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings data 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 company had revenue of $3.61 billion for 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 for the quarter was up 25.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.14 earnings per share. As a group, equities research analysts predict that BrightSpring Health Services, Inc. will post 1.7 earnings per share for the current fiscal year.

Insider Buying and Selling at BrightSpring Health Services

In related news, insider Lisa A. Nalley sold 35,000 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 transaction of $2,056,250.00. Following the sale, the insider owned 131,948 shares in the company, valued at approximately $7,751,945. This represents a 20.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 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 approximately $70,177,051.25. This represents a 9.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On BrightSpring Health Services

Several institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC raised its stake in shares of BrightSpring Health Services by 1,221.9% during the 4th quarter. SG Americas Securities LLC now owns 183,103 shares of the company’s stock worth $6,857,000 after acquiring an additional 169,251 shares in the last quarter. New York State Teachers Retirement System purchased a new stake in BrightSpring Health Services during the fourth quarter valued at approximately $1,311,000. State of Alaska Department of Revenue boosted its stake in BrightSpring Health Services by 540.6% in the fourth quarter. State of Alaska Department of Revenue now owns 68,973 shares of the company’s stock valued at $2,582,000 after acquiring an additional 58,206 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in BrightSpring Health Services by 701.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 255,902 shares of the company’s stock worth $9,827,000 after purchasing an additional 223,988 shares during the last quarter. Finally, Capricorn Fund Managers Ltd purchased a new position in BrightSpring Health Services in the fourth quarter worth $3,745,000.

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.