Mizuho Forecasts Strong Price Appreciation for BrightSpring Health Services (NASDAQ:BTSG) Stock

BrightSpring Health Services (NASDAQ:BTSG) had its price objective lifted by equities researchers at Mizuho from $17.00 to $20.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price target points to a potential upside of 13.44% from the company’s current price.

A number of other equities analysts have also weighed in on the stock. The Goldman Sachs Group decreased their price objective on shares of BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating for the company in a report on Friday, August 9th. UBS Group boosted their price objective on shares of BrightSpring Health Services from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Guggenheim boosted their price objective on shares of BrightSpring Health Services from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. KeyCorp initiated coverage on shares of BrightSpring Health Services in a report on Friday, October 11th. They issued a “sector weight” rating for the company. Finally, BTIG Research boosted their price objective on shares of BrightSpring Health Services from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.79.

BrightSpring Health Services Stock Performance

Shares of BTSG opened at $17.63 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.33 and a debt-to-equity ratio of 1.62. The business’s 50 day moving average price is $14.76 and its 200-day moving average price is $12.57. BrightSpring Health Services has a 52 week low of $7.85 and a 52 week high of $17.68. The stock has a market cap of $3.02 billion and a P/E ratio of -67.81.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings results on Friday, November 1st. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). BrightSpring Health Services had a positive return on equity of 4.47% and a negative net margin of 0.38%. The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.72 billion. BrightSpring Health Services’s quarterly revenue was up 28.8% on a year-over-year basis. Equities research analysts anticipate that BrightSpring Health Services will post 0.55 earnings per share 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 dated Wednesday, September 11th. The stock was purchased at an average price of $11.13 per share, with a total value of $129,330,577.74. Following the transaction, the insider now directly owns 92,959,984 shares in the company, valued at approximately $1,034,644,621.92. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Investors Weigh In On BrightSpring Health Services

A number of hedge funds have recently modified their holdings of the business. nVerses Capital LLC bought a new position in BrightSpring Health Services in the 2nd quarter worth $55,000. Ameritas Investment Partners Inc. bought a new position in BrightSpring Health Services in the 1st quarter worth $58,000. California State Teachers Retirement System bought a new position in BrightSpring Health Services in the 1st quarter worth $59,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in BrightSpring Health Services in the 2nd quarter worth $126,000. Finally, Arizona State Retirement System bought a new position in BrightSpring Health Services in the 2nd quarter worth $163,000.

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.