BrightSpring Health Services, Inc. $BTSG Shares Newly Acquired by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. bought a new stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG) during the third quarter, HoldingsChannel reports. The fund bought 8,940 shares of the company’s stock, valued at approximately $507,000.

A number of other large investors have also recently bought and sold shares of BTSG. TD Waterhouse Canada Inc. acquired a new stake in BrightSpring Health Services during the 2nd quarter worth about $22,054,000. Bank of America Corp DE lifted its holdings in shares of BrightSpring Health Services by 48.7% in the 1st quarter. Bank of America Corp DE now owns 1,534,154 shares of the company’s stock valued at $65,370,000 after buying an additional 502,786 shares during the period. Ausbil Investment Management Ltd acquired a new position in shares of BrightSpring Health Services in the 2nd quarter valued at about $2,005,000. Wealthstar Advisors LLC purchased a new stake in shares of BrightSpring Health Services in the first quarter worth about $1,525,000. Finally, Bellars Harris Wealth Management LLC purchased a new stake in shares of BrightSpring Health Services in the second quarter worth about $4,394,000.

BrightSpring Health Services Stock Down 2.4%

BrightSpring Health Services stock opened at $60.87 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.59 and a quick ratio of 1.22. The stock has a market capitalization of $12.04 billion, a PE ratio of 36.67, a price-to-earnings-growth ratio of 0.81 and a beta of 1.87. The business has a 50 day simple moving average of $59.73 and a 200-day simple moving average of $59.40. BrightSpring Health Services, Inc. has a 12 month low of $29.01 and a 12 month high of $73.75.

BrightSpring Health Services (NASDAQ:BTSG) last announced its earnings results on Friday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same quarter last year, the firm posted $0.22 EPS. The business’s revenue was up 23.0% on a year-over-year basis. On average, analysts anticipate that BrightSpring Health Services, Inc. will post 1.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BTSG has been the topic of several analyst reports. Wall Street Zen lowered BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 23rd. Wells Fargo & Company lifted their price target on BrightSpring Health Services from $61.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. BMO Capital Markets reissued an “outperform” rating on shares of BrightSpring Health Services in a report on Friday, October 2nd. Guggenheim began coverage on BrightSpring Health Services in a research report on Monday, July 13th. They issued a “buy” rating and a $81.00 price objective on the stock. Finally, UBS Group upped their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, BrightSpring Health Services currently has an average rating of “Moderate Buy” and a consensus target price of $70.71.

BrightSpring Health Services Company Profile

BrightSpring Health Services, Inc is a U.S. provider of pharmacy and health services focused on individuals with complex or chronic medical needs. The company delivers care across home and community-based settings, serving older adults, people with disabilities, and patients requiring specialized support.

Its services include pharmacy care through PharMerica, home health and hospice, primary and urgent care, behavioral health, rehabilitation, and personal care. BrightSpring also provides residential and community-based services, including assistance with daily living, clinical support, and care coordination for individuals who need ongoing support outside traditional hospital settings.

The company was formed in 2019 through the combination of PharMerica and ResCare.