BrightSpring Health Services (NASDAQ:BTSG) Sets New 12-Month High – Time to Buy?

BrightSpring Health Services, Inc. (NASDAQ:BTSG)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $46.72 and last traded at $46.31, with a volume of 21047 shares. The stock had previously closed at $46.03.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald set a $49.00 target price on shares of BrightSpring Health Services in a report on Monday, March 2nd. Leerink Partners reissued an “outperform” rating and issued a $49.00 target price on shares of BrightSpring Health Services in a report on Wednesday, March 18th. Zacks Research raised shares of BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. Morgan Stanley increased their target price on shares of BrightSpring Health Services from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, March 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of BrightSpring Health Services in a report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, BrightSpring Health Services currently has a consensus rating of “Buy” and an average target price of $45.50.

BrightSpring Health Services Stock Performance

The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.12 and a current ratio of 1.57. The business’s fifty day simple moving average is $41.41 and its 200-day simple moving average is $37.17. The firm has a market capitalization of $8.92 billion, a PE ratio of 52.59, a price-to-earnings-growth ratio of 0.60 and a beta of 2.03.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings data on Friday, February 27th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). BrightSpring Health Services had a net margin of 1.48% and a return on equity of 12.66%. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same period last year, the business earned $0.11 earnings per share. The company’s quarterly revenue was up 29.3% compared to the same quarter last year. As a group, equities research analysts expect that BrightSpring Health Services, Inc. will post 0.59 EPS for the current year.

Insider Buying and Selling at BrightSpring Health Services

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 220,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total transaction of $9,053,000.00. Following the completion of the sale, the insider directly owned 1,023,880 shares of the company’s stock, valued at $42,132,662. This trade represents a 17.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jennifer A. Phipps sold 35,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total transaction of $1,440,250.00. Following the sale, the chief financial officer directly owned 196,840 shares of the company’s stock, valued at approximately $8,099,966. This trade represents a 15.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 285,000 shares of company stock valued at $11,727,750 in the last three months. 3.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC grew its holdings in shares of 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 in the last quarter. 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 valued at $143,000 after purchasing an additional 565 shares in the last quarter. NBC Securities Inc. purchased a new position in shares of BrightSpring Health Services in the fourth quarter valued at $29,000. Salomon & Ludwin LLC purchased a new position in shares of BrightSpring Health Services in the fourth quarter valued at $30,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of BrightSpring Health Services by 112.8% in the fourth quarter. Farther Finance Advisors LLC now owns 1,717 shares of the company’s stock valued at $64,000 after purchasing an additional 910 shares in the last quarter.

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.