Zacks Research cut shares of BrightSpring Health Services (NASDAQ:BTSG – Free Report) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks.com reports.
BTSG has been the topic of a number of other research reports. BMO Capital Markets set a $70.00 price target on shares of BrightSpring Health Services in a research note on Thursday, May 21st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $60.00 price objective on shares of BrightSpring Health Services in a research note on Monday, May 4th. TD Cowen boosted their price objective on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Weiss Ratings raised BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. Finally, Morgan Stanley lifted their price target on BrightSpring Health Services from $62.00 to $71.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $63.67.
Read Our Latest Research Report on BTSG
BrightSpring Health Services Price Performance
BrightSpring Health Services (NASDAQ:BTSG – Get Free Report) last issued its quarterly 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. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.39 billion. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The company’s revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.14 earnings per share. As a group, equities analysts expect that BrightSpring Health Services will post 1.64 EPS for the current fiscal year.
Insider Buying and Selling at BrightSpring Health Services
In other BrightSpring Health Services news, insider Lisa A. Nalley sold 35,000 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 $2,056,250.00. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jon B. Rousseau sold 130,000 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 $7,637,500.00. Following the sale, the insider directly owned 1,194,503 shares in the company, valued at $70,177,051.25. This represents a 9.82% 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 currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of BrightSpring Health Services by 30.5% during the 4th quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company’s stock worth $469,385,000 after purchasing an additional 2,928,953 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of BrightSpring Health Services by 4.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,662,236 shares of the company’s stock valued at $399,302,000 after purchasing an additional 478,436 shares during the period. Invesco Ltd. boosted its holdings in BrightSpring Health Services by 13.4% during the fourth quarter. Invesco Ltd. now owns 10,595,232 shares of the company’s stock worth $396,791,000 after buying an additional 1,248,107 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in BrightSpring Health Services by 21.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,123,865 shares of the company’s stock worth $229,339,000 after buying an additional 1,091,757 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in BrightSpring Health Services by 12.1% during 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 period.
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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