UBS Group Issues Positive Forecast for BrightSpring Health Services (NASDAQ:BTSG) Stock Price

BrightSpring Health Services (NASDAQ:BTSG) had its price target lifted by UBS Group from $16.00 to $20.00 in a research note released on Wednesday, Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other research firms have also recently issued reports on BTSG. The Goldman Sachs Group dropped their price target on BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, August 9th. BTIG Research boosted 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. Guggenheim increased their price target on BrightSpring Health Services from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Finally, KeyCorp began coverage on BrightSpring Health Services in a report on Friday, October 11th. They set a “sector weight” rating on the stock. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.50.

BrightSpring Health Services Stock Performance

Shares of BTSG stock opened at $14.96 on Wednesday. The stock has a 50-day simple moving average of $14.37 and a 200 day simple moving average of $12.36. BrightSpring Health Services has a fifty-two week low of $7.85 and a fifty-two week high of $16.49. The company has a quick ratio of 1.00, a current ratio of 1.33 and a debt-to-equity ratio of 1.62.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.08). The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.61 billion. BrightSpring Health Services’s revenue for the quarter was up 26.0% on a year-over-year basis. On average, equities analysts predict that BrightSpring Health Services will post 0.57 earnings per share for the current year.

Insider Transactions at BrightSpring Health Services

In related news, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of BrightSpring Health Services stock in a transaction on Wednesday, September 11th. The stock was bought at an average price of $11.13 per share, with a total value of $129,330,577.74. Following the completion of the transaction, the insider now directly owns 92,959,984 shares of the company’s stock, valued at approximately $1,034,644,621.92. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Trading of BrightSpring Health Services

A number of large investors have recently bought and sold shares of BTSG. Assenagon Asset Management S.A. bought a new stake in shares of BrightSpring Health Services in the 3rd quarter worth about $1,822,000. nVerses Capital LLC grew its stake in BrightSpring Health Services by 195.8% during the third quarter. nVerses Capital LLC now owns 14,200 shares of the company’s stock worth $208,000 after buying an additional 9,400 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of BrightSpring Health Services during the third quarter worth approximately $360,000. The Manufacturers Life Insurance Company raised its stake in shares of BrightSpring Health Services by 10.2% in the second quarter. The Manufacturers Life Insurance Company now owns 117,026 shares of the company’s stock valued at $1,329,000 after acquiring an additional 10,854 shares during the last quarter. Finally, Magnetar Financial LLC grew its position in BrightSpring Health Services by 46.9% during the 2nd quarter. Magnetar Financial LLC now owns 1,188,302 shares of the company’s stock worth $13,499,000 after acquiring an additional 379,149 shares during the last quarter.

BrightSpring Health Services Company Profile

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.