BrightSpring Health Services, Inc. (NASDAQ:BTSG) Receives Average Rating of “Buy” from Analysts

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) have been given a consensus recommendation of “Buy” by the twelve brokerages that are currently covering the company, Marketbeat reports. Twelve research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have covered the stock in the last year is $15.59.

BTSG has been the subject of a number of recent research reports. Guggenheim increased their price objective on shares of BrightSpring Health Services from $15.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday. BTIG Research started coverage on BrightSpring Health Services in a report on Friday, June 21st. They issued a “buy” rating and a $15.00 price target for the company. Finally, The Goldman Sachs Group lowered their price objective on BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, August 9th.

BrightSpring Health Services Stock Up 0.7 %

Shares of BTSG opened at $14.78 on Wednesday. The stock has a 50 day moving average price of $12.89 and a 200 day moving average price of $11.56. BrightSpring Health Services has a one year low of $7.85 and a one year high of $15.47. The company has a current ratio of 1.33, a quick ratio of 1.00 and a debt-to-equity ratio of 1.62.

BrightSpring Health Services (NASDAQ:BTSG) last released its earnings results on Friday, August 2nd. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The firm had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.61 billion. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. As a group, analysts forecast that BrightSpring Health Services will post 0.57 EPS for the current fiscal year.

Insider Activity

In other BrightSpring Health Services news, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was purchased at an average cost of $11.13 per share, with a total value of $129,330,577.74. Following the transaction, the insider now owns 92,959,984 shares of the company’s stock, valued at $1,034,644,621.92. The transaction was disclosed in a filing with the SEC, which is available at this link.

Hedge Funds Weigh In On BrightSpring Health Services

A number of hedge funds have recently made changes to their positions in BTSG. Silvercrest Asset Management Group LLC purchased a new position in BrightSpring Health Services during the 1st quarter valued at about $14,179,000. Price T Rowe Associates Inc. MD purchased a new position in shares of BrightSpring Health Services in the first quarter valued at approximately $16,260,000. Capstone Investment Advisors LLC acquired a new position in shares of BrightSpring Health Services in the first quarter valued at approximately $9,722,000. TD Asset Management Inc purchased a new stake in BrightSpring Health Services during the 2nd quarter worth approximately $2,308,000. Finally, Magnetar Financial LLC lifted its holdings in BrightSpring Health Services by 46.9% during the 2nd quarter. Magnetar Financial LLC now owns 1,188,302 shares of the company’s stock worth $13,499,000 after buying an additional 379,149 shares in the last quarter.

About BrightSpring Health Services

BrightSpring Health Services, Inc operates a home and community-based healthcare services platform in the United States. The company's platform focuses on delivering pharmacy and provider services, including clinical and supportive care in home and community settings to Medicare, Medicaid, and insured populations.