Wells Fargo & Company Raises BrightSpring Health Services (NASDAQ:BTSG) Price Target to $21.00

BrightSpring Health Services (NASDAQ:BTSG) had its price target hoisted by Wells Fargo & Company from $17.00 to $21.00 in a research note issued to investors on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other research analysts have also recently issued research reports about the stock. BTIG Research raised their target price 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. UBS Group raised their price target 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 upped their price objective on shares of BrightSpring Health Services from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. The Goldman Sachs Group cut their target price 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. Finally, Mizuho upped their price target on BrightSpring Health Services from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, BrightSpring Health Services has a consensus rating of “Moderate Buy” and an average price target of $17.21.

BrightSpring Health Services Stock Performance

BrightSpring Health Services stock opened at $19.30 on Wednesday. The firm has a fifty day simple moving average of $16.77 and a two-hundred day simple moving average of $13.55. BrightSpring Health Services has a twelve month low of $7.85 and a twelve month high of $20.25. The company has a market capitalization of $3.36 billion and a PE ratio of -74.23. The company has a quick ratio of 0.97, a current ratio of 1.35 and a debt-to-equity ratio of 1.63.

BrightSpring Health Services (NASDAQ:BTSG) last released its earnings results on Friday, November 1st. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). BrightSpring Health Services had a negative net margin of 0.38% and a positive return on equity of 4.16%. The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.72 billion. BrightSpring Health Services’s revenue was up 28.8% on a year-over-year basis. Research analysts expect that BrightSpring Health Services will post 0.59 EPS for the current year.

Insider Activity

In other BrightSpring Health Services news, major shareholder Kkr Group Partnership L.P. bought 11,619,998 shares of BrightSpring Health Services stock in a transaction dated Wednesday, September 11th. The shares were 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 directly owns 92,959,984 shares of the company’s stock, valued at $1,034,644,621.92. This represents a 14.29 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Investors Weigh In On BrightSpring Health Services

Several hedge funds have recently bought and sold shares of the business. FMR LLC increased its stake in shares of BrightSpring Health Services by 17.2% during the third quarter. FMR LLC now owns 18,169,187 shares of the company’s stock valued at $266,724,000 after purchasing an additional 2,664,582 shares in the last quarter. Vanguard Group Inc. bought a new position in BrightSpring Health Services during the 1st quarter valued at approximately $54,638,000. Price T Rowe Associates Inc. MD purchased a new position in BrightSpring Health Services during the first quarter valued at $16,260,000. Geode Capital Management LLC raised its stake in BrightSpring Health Services by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,304,214 shares of the company’s stock valued at $19,150,000 after buying an additional 7,750 shares during the last quarter. Finally, State Street Corp boosted its holdings in BrightSpring Health Services by 7.4% in the third quarter. State Street Corp now owns 1,239,628 shares of the company’s stock worth $18,198,000 after acquiring an additional 85,464 shares in the last quarter.

BrightSpring Health Services Company Profile

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.