BrightSpring Health Services, Inc. (NASDAQ:BTSG – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $64.60 and last traded at $64.4890, with a volume of 2061 shares changing hands. The stock had previously closed at $64.08.
Analysts Set New Price Targets
A number of research analysts recently commented on BTSG shares. Morgan Stanley upped their price objective on BrightSpring Health Services from $62.00 to $71.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 2nd. Stephens upped their target price 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. Weiss Ratings raised shares of BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. UBS Group boosted their target price on BrightSpring Health Services from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Finally, Mizuho upped their price objective on shares of BrightSpring Health Services from $52.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $58.53.
View Our Latest Stock Report on BrightSpring Health Services
BrightSpring Health Services Price Performance
BrightSpring Health Services (NASDAQ:BTSG – Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.39 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 25.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.14 earnings per share. On average, equities research analysts forecast that BrightSpring Health Services, Inc. will post 1.67 EPS for the current fiscal year.
Insider Buying and Selling
In other news, insider Jon B. Rousseau sold 130,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $7,637,500.00. Following the transaction, the insider directly owned 1,194,503 shares of the company’s stock, valued at approximately $70,177,051.25. This represents a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Lisa A. Nalley sold 35,000 shares of the stock in a transaction on 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 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On BrightSpring Health Services
Hedge funds and other institutional investors have recently made changes to their positions in the company. NBC Securities Inc. bought a new stake in shares of BrightSpring Health Services in the 4th quarter valued at approximately $29,000. Salomon & Ludwin LLC acquired a new stake in BrightSpring Health Services in the fourth quarter valued at approximately $30,000. GHP Investment Advisors Inc. bought a new stake in BrightSpring Health Services in the first quarter worth approximately $31,000. EverSource Wealth Advisors LLC bought a new stake in BrightSpring Health Services in the second quarter worth approximately $43,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of BrightSpring Health Services during the 1st quarter worth $52,000.
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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