BrightSpring Health Services (NASDAQ:BTSG – Get Free Report) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.
Several other research firms have also recently commented on BTSG. Raymond James Financial began coverage on BrightSpring Health Services in a research note on Thursday, July 9th. They set an “outperform” rating and a $80.00 target price for the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $70.00 price target on shares of BrightSpring Health Services in a research report on Monday. Morgan Stanley lifted their price objective on BrightSpring Health Services from $71.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Stephens boosted their price objective on BrightSpring Health Services from $53.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Finally, Wall Street Zen lowered shares of BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 4th. Two research analysts have rated the stock with a Strong Buy rating and eighteen have assigned a Buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $70.71.
Read Our Latest Report on BTSG
BrightSpring Health Services Trading Up 0.4%
BrightSpring Health Services (NASDAQ:BTSG – Get Free Report) last announced its earnings results on Friday, July 31st. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.05. BrightSpring Health Services had a net margin of 2.55% and a return on equity of 16.73%. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the prior year, the firm earned $0.22 EPS. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. Equities research analysts anticipate that BrightSpring Health Services will post 1.78 EPS for the current fiscal year.
Insider Transactions at BrightSpring Health Services
In related news, insider Jon B. Rousseau sold 130,000 shares of the firm’s 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 transaction, the insider owned 1,194,503 shares in the company, valued at $70,177,051.25. This trade represents a 9.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Lisa A. Nalley sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $2,056,250.00. Following the completion of the sale, the insider owned 131,948 shares of the company’s stock, valued at approximately $7,751,945. This represents a 20.96% decrease in their position. The SEC filing for this sale provides additional information. 2.80% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On BrightSpring Health Services
A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in BrightSpring Health Services by 30.5% in the 4th quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company’s stock valued at $469,385,000 after purchasing an additional 2,928,953 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in BrightSpring Health Services by 4.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,662,236 shares of the company’s stock worth $399,302,000 after purchasing an additional 478,436 shares during the last quarter. Invesco Ltd. increased its stake in BrightSpring Health Services by 13.4% in the fourth quarter. Invesco Ltd. now owns 10,595,232 shares of the company’s stock valued at $396,791,000 after purchasing an additional 1,248,107 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in BrightSpring Health Services by 21.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,123,865 shares of the company’s stock valued at $229,339,000 after purchasing an additional 1,091,757 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of BrightSpring Health Services by 12.1% in the second quarter. Alliancebernstein L.P. now owns 5,450,085 shares of the company’s stock valued at $128,568,000 after buying an additional 588,642 shares during the last quarter.
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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