BrightSpring Health Services (NASDAQ:BTSG – Get Free Report) had its price objective increased by Morgan Stanley from $71.00 to $80.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 14.88% from the stock’s previous close.
Other equities analysts also recently issued reports about the stock. BMO Capital Markets set a $70.00 price target on shares of BrightSpring Health Services in a report on Thursday, May 21st. Raymond James Financial assumed coverage on shares of BrightSpring Health Services in a report on Thursday. They issued an “outperform” rating and a $80.00 price target on the stock. Wall Street Zen downgraded shares of BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 4th. BTIG Research increased their price target on BrightSpring Health Services from $65.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Finally, KeyCorp upped their price target on shares of BrightSpring Health Services from $60.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $70.12.
Get Our Latest Stock Analysis on BrightSpring Health Services
BrightSpring Health Services Stock Down 2.5%
BrightSpring Health Services (NASDAQ:BTSG – Get Free Report) last posted its earnings results on Friday, May 1st. The company reported $0.39 earnings per share 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 the consensus estimate of $3.39 billion. During the same period in the previous year, the firm posted $0.14 EPS. The business’s quarterly revenue was up 25.6% on a year-over-year basis. As a group, equities analysts expect that BrightSpring Health Services will post 1.66 earnings per share for the current fiscal year.
Insider Transactions at BrightSpring Health Services
In other news, insider Lisa A. Nalley sold 35,000 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $2,056,250.00. Following the transaction, the insider directly owned 131,948 shares of the company’s stock, valued at approximately $7,751,945. This represents a 20.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jon B. Rousseau sold 130,000 shares of the stock in a transaction that occurred on 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 transaction, the insider owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. This trade represents a 9.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.80% of the company’s stock.
Hedge Funds Weigh In On BrightSpring Health Services
Several large investors have recently made changes to their positions in the company. AQR Capital Management LLC acquired a new stake in BrightSpring Health Services during the first quarter valued at $276,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in BrightSpring Health Services by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,429 shares of the company’s stock worth $587,000 after purchasing an additional 1,780 shares in the last quarter. Millennium Management LLC grew its holdings in BrightSpring Health Services by 0.3% in the first quarter. Millennium Management LLC now owns 577,885 shares of the company’s stock valued at $10,454,000 after purchasing an additional 1,967 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of BrightSpring Health Services by 11.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,280 shares of the company’s stock worth $2,664,000 after buying an additional 14,586 shares during the period. Finally, Prudential Financial Inc. acquired a new position in shares of BrightSpring Health Services during the 2nd quarter worth approximately $351,000.
BrightSpring Health Services Company Profile
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.
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