BrightSpring Health Services (NASDAQ:BTSG) Reaches New 52-Week High – Time to Buy?

BrightSpring Health Services, Inc. (NASDAQ:BTSG) shares hit a new 52-week high on Wednesday . The company traded as high as $60.48 and last traded at $60.32, with a volume of 2050206 shares changing hands. The stock had previously closed at $58.50.

Analysts Set New Price Targets

A number of brokerages have recently commented on BTSG. BTIG Research boosted their price objective on shares of BrightSpring Health Services from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Morgan Stanley upped their price objective on shares of BrightSpring Health Services from $48.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Leerink Partners reiterated an “outperform” rating and issued a $49.00 price objective on shares of BrightSpring Health Services in a report on Wednesday, March 18th. Zacks Research upgraded shares of BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. Finally, Stephens upped their price target on shares of BrightSpring Health Services from $53.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the stock. According to data from MarketBeat.com, BrightSpring Health Services presently has an average rating of “Buy” and an average price target of $57.00.

BrightSpring Health Services Price Performance

The business’s fifty day moving average price is $49.29 and its 200 day moving average price is $41.94. The stock has a market cap of $11.80 billion, a P/E ratio of 43.14, a PEG ratio of 0.79 and a beta of 1.71. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.74 and a quick ratio of 1.38.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings data 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. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.39 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The firm’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter last year, the business earned $0.14 EPS. Sell-side analysts forecast that BrightSpring Health Services, Inc. will post 1.64 EPS for the current fiscal year.

Insider Buying and Selling at BrightSpring Health Services

In other BrightSpring Health Services news, insider Lisa A. Nalley sold 30,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total transaction of $1,234,500.00. Following the completion of the sale, the insider owned 110,594 shares of the company’s stock, valued at approximately $4,550,943.10. This represents a 21.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jon B. Rousseau sold 220,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total transaction of $9,053,000.00. Following the sale, the insider directly owned 1,023,880 shares of the company’s stock, valued at $42,132,662. This represents a 17.69% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 285,000 shares of company stock valued at $11,727,750. 2.80% of the stock is currently owned by company insiders.

Institutional Trading of BrightSpring Health Services

Several large investors have recently modified their holdings of the stock. Arete Wealth Advisors LLC acquired a new stake in BrightSpring Health Services in the 1st quarter valued at $2,486,000. Bank of America Corp DE boosted its holdings in BrightSpring Health Services by 48.7% during the 1st quarter. Bank of America Corp DE now owns 1,534,154 shares of the company’s stock worth $65,370,000 after acquiring an additional 502,786 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in BrightSpring Health Services by 452.3% during the 1st quarter. Janus Henderson Group PLC now owns 228,941 shares of the company’s stock worth $9,756,000 after acquiring an additional 187,485 shares during the last quarter. Smith Group Asset Management LLC boosted its holdings in BrightSpring Health Services by 1.8% during the 1st quarter. Smith Group Asset Management LLC now owns 53,170 shares of the company’s stock worth $2,266,000 after acquiring an additional 927 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of BrightSpring Health Services by 23.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,718 shares of the company’s stock worth $201,000 after buying an additional 892 shares during the last quarter.

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.