Brokerages Set BrightSpring Health Services, Inc. (NASDAQ:BTSG) Target Price at $45.50

BrightSpring Health Services, Inc. (NASDAQ:BTSG) has been given a consensus recommendation of “Buy” by the seventeen research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $45.50.

Several research analysts have issued reports on BTSG shares. Wells Fargo & Company lifted their price target on shares of BrightSpring Health Services from $43.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. KeyCorp upgraded shares of BrightSpring Health Services from a “sector weight” rating to an “overweight” rating and set a $45.00 price target on the stock in a research report on Friday, December 12th. Morgan Stanley lifted their price target on shares of BrightSpring Health Services from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 4th. Cantor Fitzgerald set a $49.00 price target on shares of BrightSpring Health Services in a research report on Monday, March 2nd. Finally, 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.

Insiders Place Their Bets

In other BrightSpring Health Services news, CFO Jennifer A. Phipps sold 35,000 shares of BrightSpring Health Services stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total value of $1,440,250.00. Following the transaction, the chief financial officer owned 196,840 shares in the company, valued at approximately $8,099,966. The trade was a 15.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jon B. Rousseau sold 220,000 shares of BrightSpring Health Services stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total transaction of $9,053,000.00. Following the completion of the transaction, the insider owned 1,023,880 shares in the company, valued at approximately $42,132,662. This trade represents a 17.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 285,000 shares of company stock worth $11,727,750. 3.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Lisanti Capital Growth LLC purchased a new position in BrightSpring Health Services during the 3rd quarter worth approximately $1,959,000. Federated Hermes Inc. grew its position in BrightSpring Health Services by 44.8% during the 3rd quarter. Federated Hermes Inc. now owns 319,200 shares of the company’s stock worth $9,436,000 after purchasing an additional 98,745 shares in the last quarter. Prescott Group Capital Management L.L.C. purchased a new position in BrightSpring Health Services during the 3rd quarter worth approximately $887,000. Ellsworth Advisors LLC purchased a new position in BrightSpring Health Services during the 3rd quarter worth approximately $983,000. Finally, Bailard Inc. purchased a new position in BrightSpring Health Services during the 3rd quarter worth approximately $378,000.

BrightSpring Health Services Price Performance

NASDAQ BTSG opened at $43.87 on Friday. BrightSpring Health Services has a 12 month low of $15.48 and a 12 month high of $45.59. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.57 and a quick ratio of 1.12. The firm has a market capitalization of $8.49 billion, a PE ratio of 49.85, a P/E/G ratio of 0.57 and a beta of 2.03. The company’s 50 day simple moving average is $40.92 and its 200 day simple moving average is $36.65.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings data on Friday, February 27th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). BrightSpring Health Services had a net margin of 1.48% and a return on equity of 12.66%. The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the prior year, the business earned $0.11 EPS. BrightSpring Health Services’s revenue was up 29.3% compared to the same quarter last year. As a group, equities research analysts forecast that BrightSpring Health Services will post 0.59 EPS for the current fiscal 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.