The Goldman Sachs Group Upgrades BrightSpring Health Services (NASDAQ:BTSG) to “Strong-Buy”

by · The Cerbat Gem

BrightSpring Health Services (NASDAQ:BTSG – Get Free Report) was upgraded by analysts at The Goldman Sachs Group to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Several other brokerages also recently commented on BTSG. Wall Street Zen downgraded shares of BrightSpring Health Services from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 23rd. KeyCorp increased their price objective on shares of BrightSpring Health Services from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Morgan Stanley increased their price objective on shares of BrightSpring Health Services from $62.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, June 2nd. TD Cowen increased their price objective on shares of BrightSpring Health Services from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $60.00 price objective on shares of BrightSpring Health Services in a research note on Monday, May 4th. Three equities research analysts have rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $58.53.

Check Out Our Latest Report on BrightSpring Health Services

BrightSpring Health Services Stock Performance

NASDAQ BTSG opened at $59.22 on Monday. The company has a quick ratio of 1.38, a current ratio of 1.74 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $11.68 billion, a P/E ratio of 42.00, a P/E/G ratio of 0.74 and a beta of 1.87. BrightSpring Health Services has a 12-month low of $19.01 and a 12-month high of $62.11. The firm has a 50-day moving average price of $51.58 and a two-hundred day moving average price of $43.27.

BrightSpring Health Services (NASDAQ:BTSG – Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the previous year, the firm posted $0.14 EPS. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. Analysts anticipate that BrightSpring Health Services will post 1.67 earnings per share for the current year.

Insider Activity 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 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 transaction, the insider directly owned 131,948 shares in the company, valued at approximately $7,751,945. This represents a 20.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jon B. Rousseau sold 130,000 shares of the company’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 transaction of $7,637,500.00. Following the completion of the transaction, the insider owned 1,194,503 shares of the company’s stock, valued at approximately $70,177,051.25. This trade represents a 9.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On BrightSpring Health Services

Several large investors have recently modified their holdings of the company. Arete Wealth Advisors LLC acquired a new stake in shares of BrightSpring Health Services during the first quarter worth $2,486,000. Bank of America Corp DE increased its position in shares of BrightSpring Health Services by 48.7% during the first quarter. Bank of America Corp DE now owns 1,534,154 shares of the company’s stock worth $65,370,000 after buying an additional 502,786 shares during the period. Janus Henderson Group PLC increased its position in shares of BrightSpring Health Services by 452.3% during the first quarter. Janus Henderson Group PLC now owns 228,941 shares of the company’s stock worth $9,756,000 after buying an additional 187,485 shares during the period. Smith Group Asset Management LLC increased its position in shares of BrightSpring Health Services by 1.8% during the first quarter. Smith Group Asset Management LLC now owns 53,170 shares of the company’s stock worth $2,266,000 after buying an additional 927 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of BrightSpring Health Services by 23.3% during the first quarter. EverSource Wealth Advisors LLC now owns 4,718 shares of the company’s stock worth $201,000 after buying an additional 892 shares during the period.

BrightSpring Health Services Company Profile

(Get Free Report)

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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