BrightSpring Health Services (NASDAQ:BTSG) Hits New 1-Year High – What’s Next?

BrightSpring Health Services, Inc. (NASDAQ:BTSG)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $15.51 and last traded at $15.51, with a volume of 211 shares. The stock had previously closed at $15.16.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. KeyCorp initiated coverage on BrightSpring Health Services in a report on Friday. They set a “sector weight” rating on the stock. Guggenheim upped their price target on BrightSpring Health Services from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. The Goldman Sachs Group cut their target price on BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, BTIG Research increased their target price on BrightSpring Health Services from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, BrightSpring Health Services currently has a consensus rating of “Moderate Buy” and an average target price of $16.05.

BrightSpring Health Services Stock Up 1.9 %

The business has a 50-day moving average of $13.38 and a 200-day moving average of $11.91. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.33 and a quick ratio of 1.00.

BrightSpring Health Services (NASDAQ:BTSG) last released its earnings results on Friday, August 2nd. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.61 billion. The business’s revenue for the quarter was up 26.0% on a year-over-year basis. On average, sell-side analysts anticipate that BrightSpring Health Services, Inc. will post 0.57 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were purchased at an average price of $11.13 per share, for a total transaction of $129,330,577.74. Following the completion of the purchase, the insider now owns 92,959,984 shares in the company, valued at approximately $1,034,644,621.92. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Investors Weigh In On BrightSpring Health Services

Institutional investors have recently added to or reduced their stakes in the business. Silvercrest Asset Management Group LLC acquired a new stake in BrightSpring Health Services in the first quarter worth about $14,179,000. Price T Rowe Associates Inc. MD acquired a new stake in BrightSpring Health Services in the first quarter worth about $16,260,000. Capstone Investment Advisors LLC acquired a new stake in shares of BrightSpring Health Services during the first quarter worth about $9,722,000. TD Asset Management Inc acquired a new stake in shares of BrightSpring Health Services during the second quarter worth about $2,308,000. Finally, Magnetar Financial LLC lifted its holdings in shares of BrightSpring Health Services by 46.9% during the second quarter. Magnetar Financial LLC now owns 1,188,302 shares of the company’s stock worth $13,499,000 after purchasing an additional 379,149 shares during the period.

About BrightSpring Health Services

BrightSpring Health Services, Inc operates a home and community-based healthcare services platform in the United States. The company's platform focuses on delivering pharmacy and provider services, including clinical and supportive care in home and community settings to Medicare, Medicaid, and insured populations.