BrightSpring Health Services, Inc. (NASDAQ:BTSG – Get Free Report)’s stock price crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $59.79 and traded as high as $61.96. BrightSpring Health Services shares last traded at $60.22, with a volume of 3,983,560 shares traded.
Analyst Upgrades and Downgrades
BTSG has been the topic of a number of analyst reports. BMO Capital Markets reissued an “outperform” rating on shares of BrightSpring Health Services in a research note on Friday, October 2nd. Wall Street Zen lowered shares of BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 23rd. Zacks Research cut shares of BrightSpring Health Services from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 2nd. BTIG Research reaffirmed a “buy” rating and set a $90.00 price objective on shares of BrightSpring Health Services in a report on Thursday, August 13th. Finally, Weiss Ratings downgraded BrightSpring Health Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.88.
Get Our Latest Stock Analysis on BrightSpring Health Services
BrightSpring Health Services Stock Up 1.3%
The company has a debt-to-equity ratio of 1.06, a current ratio of 1.59 and a quick ratio of 1.22. The firm has a 50 day simple moving average of $59.79 and a 200-day simple moving average of $54.40. The stock has a market capitalization of $11.92 billion, a price-to-earnings ratio of 36.28, a price-to-earnings-growth ratio of 0.77 and a beta of 1.87.
BrightSpring Health Services (NASDAQ:BTSG – Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%. The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period last year, the business earned $0.22 earnings per share. The business’s revenue was up 23.0% on a year-over-year basis. On average, sell-side analysts forecast that BrightSpring Health Services, Inc. will post 1.64 EPS for the current fiscal year.
Institutional Investors Weigh In On BrightSpring Health Services
A number of hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company acquired a new position in BrightSpring Health Services in the second quarter valued at about $239,377,000. Bank of America Corp DE bought a new stake in BrightSpring Health Services during the second quarter worth about $127,475,000. Bank of New York Mellon Corp acquired a new stake in shares of BrightSpring Health Services during the second quarter worth approximately $118,162,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of BrightSpring Health Services by 109.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,370,440 shares of the company’s stock worth $58,394,000 after buying an additional 716,949 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of BrightSpring Health Services by 236.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 860,134 shares of the company’s stock worth $36,151,000 after buying an additional 604,232 shares in the last quarter.
BrightSpring Health Services Company Profile
BrightSpring Health Services (NASDAQ:BTSG) is a Louisville, Kentucky-based provider of home- and community-based health services and pharmacy services. The company focuses on supporting individuals with complex or chronic care needs, including older adults and people with disabilities, through care delivered in homes, communities and other non-hospital settings.
Its services include home health, hospice, personal care, behavioral health, primary care, rehabilitation and community living programs.
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