BrightSpring Health Services, Inc. (NASDAQ:BTSG – Get Free Report)’s stock price was down 16.1% during mid-day trading on Friday . The stock traded as low as $62.45 and last traded at $61.1810. Approximately 1,104,093 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 2,976,296 shares. The stock had previously closed at $72.88.
Analyst Ratings Changes
A number of research analysts recently commented on the company. Raymond James Financial began coverage on BrightSpring Health Services in a research note on Thursday, July 9th. They issued an “outperform” rating and a $80.00 target price on the stock. Stephens upped their price objective on BrightSpring Health Services from $53.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. The Goldman Sachs Group assumed coverage on BrightSpring Health Services in a research report on Monday, June 8th. They set a “buy” rating and a $71.00 price objective on the stock. Wall Street Zen cut BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. Finally, UBS Group boosted their target price 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 equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, BrightSpring Health Services currently has a consensus rating of “Buy” and a consensus target price of $70.12.
Check Out Our Latest Report on BTSG
BrightSpring Health Services Stock Performance
BrightSpring Health Services (NASDAQ:BTSG – Get Free Report) last issued its earnings results on Friday, July 31st. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. The company had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.66 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The firm’s revenue was up 23.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.22 EPS. As a group, equities analysts predict that BrightSpring Health Services, Inc. will post 1.7 earnings per share for the current fiscal year.
Insider Transactions at BrightSpring Health Services
In other news, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $7,637,500.00. Following the transaction, the insider owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. The trade was a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lisa A. Nalley sold 35,000 shares of BrightSpring Health Services 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 completion of the transaction, the insider owned 131,948 shares in the company, valued at approximately $7,751,945. This represents a 20.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On BrightSpring Health Services
Several institutional investors and hedge funds have recently bought and sold shares of BTSG. CWM LLC lifted its position in BrightSpring Health Services by 17.5% in the fourth quarter. CWM LLC now owns 1,874 shares of the company’s stock valued at $70,000 after purchasing an additional 279 shares during the last quarter. State of Wyoming boosted its stake in shares of BrightSpring Health Services by 4.5% during the first quarter. State of Wyoming now owns 7,776 shares of the company’s stock valued at $331,000 after purchasing an additional 336 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of BrightSpring Health Services by 17.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,826 shares of the company’s stock worth $143,000 after purchasing an additional 565 shares during the last quarter. Moran Wealth Management LLC grew its holdings in shares of BrightSpring Health Services by 9.0% in the first quarter. Moran Wealth Management LLC now owns 6,925 shares of the company’s stock worth $295,000 after purchasing an additional 572 shares during the last quarter. Finally, GHP Investment Advisors Inc. bought a new position in shares of BrightSpring Health Services in the first quarter worth approximately $31,000.
About BrightSpring Health Services
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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