BrightSpring Health Services (NASDAQ:BTSG) Trading 4% Higher

BrightSpring Health Services, Inc. (NASDAQ:BTSG)’s stock price was up 4% on Tuesday . The company traded as high as $14.51 and last traded at $14.47. Approximately 240,681 shares changed hands during trading, a decline of 83% from the average daily volume of 1,456,149 shares. The stock had previously closed at $13.92.

Analyst Upgrades and Downgrades

BTSG has been the subject of several research reports. The Goldman Sachs Group lowered 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 research note on Friday, August 9th. BTIG Research initiated coverage on BrightSpring Health Services in a report on Friday, June 21st. They issued a “buy” rating and a $15.00 target price on the stock. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $15.32.

BrightSpring Health Services Price Performance

The firm has a fifty day moving average of $12.36 and a 200-day moving average of $11.21. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.33 and a quick ratio of 1.00.

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

Insider Buying and Selling at BrightSpring Health Services

In other 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 acquired at an average cost of $11.13 per share, with a total value of $129,330,577.74. Following the completion of the transaction, the insider now owns 92,959,984 shares in the company, valued at approximately $1,034,644,621.92. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Institutional Investors Weigh In On BrightSpring Health Services

A number of hedge funds have recently bought and sold shares of the business. nVerses Capital LLC purchased a new position in shares of BrightSpring Health Services during the 2nd quarter valued at approximately $55,000. Ameritas Investment Partners Inc. acquired a new stake in BrightSpring Health Services in the first quarter valued at $58,000. California State Teachers Retirement System bought a new position in BrightSpring Health Services during the 1st quarter valued at $59,000. The Manufacturers Life Insurance Company grew its holdings in BrightSpring Health Services by 10.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 117,026 shares of the company’s stock worth $1,329,000 after acquiring an additional 10,854 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in BrightSpring Health Services during the 2nd quarter worth $126,000.

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.