BrightSpring Health Services (NASDAQ:BTSG) Sets New 12-Month High – Should You Buy?

BrightSpring Health Services, Inc. (NASDAQ:BTSG)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $67.76 and last traded at $66.7370, with a volume of 132550 shares trading hands. The stock had previously closed at $66.25.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BTSG. Wells Fargo & Company increased their price objective on BrightSpring Health Services from $50.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, May 4th. BTIG Research increased their price target on shares of BrightSpring Health Services from $65.00 to $90.00 and gave the company a “buy” rating in a report on Monday. Zacks Research upgraded shares of BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. KeyCorp upped their price objective on BrightSpring Health Services from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Finally, Wall Street Zen raised shares of BrightSpring Health Services from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Two analysts have rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the stock. According to data from MarketBeat, BrightSpring Health Services has a consensus rating of “Buy” and a consensus target price of $61.27.

BrightSpring Health Services Stock Down 0.3%

The firm has a market cap of $13.03 billion, a P/E ratio of 46.84, a PEG ratio of 0.85 and a beta of 1.87. The firm’s 50-day moving average price is $55.27 and its 200 day moving average price is $45.08. 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 earnings results on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter last year, the company posted $0.14 earnings per share. BrightSpring Health Services’s revenue was up 25.6% on a year-over-year basis. On average, equities research analysts expect that BrightSpring Health Services, Inc. will post 1.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction dated 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 sale, the insider directly owned 1,194,503 shares in the company, valued at $70,177,051.25. The trade was a 9.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the insider directly owned 131,948 shares in the company, valued at $7,751,945. The trade was a 20.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.80% of the company’s stock.

Institutional Trading of BrightSpring Health Services

A number of large investors have recently bought and sold shares of BTSG. NBC Securities Inc. bought a new stake in BrightSpring Health Services during the fourth quarter worth about $29,000. Salomon & Ludwin LLC bought a new stake in BrightSpring Health Services during the 4th quarter worth about $30,000. GHP Investment Advisors Inc. acquired a new position in BrightSpring Health Services in the first quarter valued at approximately $31,000. EverSource Wealth Advisors LLC acquired a new position in shares of BrightSpring Health Services in the 2nd quarter valued at $43,000. Finally, Meeder Asset Management Inc. bought a new position in BrightSpring Health Services during the first quarter worth about $52,000.

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.