BrightSpring Health Services (NASDAQ:BTSG) Releases Quarterly Earnings Results, Misses Estimates By $0.07 EPS

BrightSpring Health Services (NASDAQ:BTSG) released its earnings results on Friday. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07), Briefing.com reports. The firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.72 billion. BrightSpring Health Services’s revenue for the quarter was up 28.8% compared to the same quarter last year. BrightSpring Health Services updated its FY 2024 guidance to EPS.

BrightSpring Health Services Stock Performance

NASDAQ:BTSG opened at $17.25 on Friday. The stock’s fifty day moving average price is $14.58 and its two-hundred day moving average price is $12.44. BrightSpring Health Services has a 1 year low of $7.85 and a 1 year high of $17.54. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.00 and a current ratio of 1.33.

Insiders Place Their Bets

In related news, major shareholder Kkr Group Partnership L.P. bought 11,619,998 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 92,959,984 shares in the company, valued at approximately $1,034,644,621.92. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BTSG shares. The Goldman Sachs Group reduced their target price on BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating for the company in a report on Friday, August 9th. UBS Group upped their price objective on BrightSpring Health Services from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday. Guggenheim upped their price objective on BrightSpring Health Services from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. BTIG Research upped their price objective on BrightSpring Health Services from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, KeyCorp assumed coverage on BrightSpring Health Services in a research note on Friday, October 11th. They issued a “sector weight” rating on the stock. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, BrightSpring Health Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

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.