Analysts Set BrightSpring Health Services, Inc. (NASDAQ:BTSG) Price Target at $16.79

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) have earned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $16.79.

BTSG has been the topic of a number of research analyst reports. BTIG Research raised their price target on shares of BrightSpring Health Services from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Guggenheim upped their target price on BrightSpring Health Services from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. The Goldman Sachs Group lowered their price objective on 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. Mizuho lifted their target price on shares of BrightSpring Health Services from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Finally, KeyCorp started coverage on shares of BrightSpring Health Services in a research report on Friday, October 11th. They issued a “sector weight” rating for the company.

Insider Transactions at BrightSpring Health Services

In other news, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of the company’s stock in a transaction that occurred on 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 purchase, the insider now owns 92,959,984 shares in the company, 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 SEC, which can be accessed through this hyperlink.

Institutional Investors Weigh In On BrightSpring Health Services

A number of hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new position in shares of BrightSpring Health Services in the 1st quarter worth $280,000. Vanguard Group Inc. bought a new position in shares of BrightSpring Health Services in the first quarter valued at $54,638,000. Ameritas Investment Partners Inc. acquired a new position in shares of BrightSpring Health Services during the first quarter valued at about $58,000. American International Group Inc. acquired a new position in shares of BrightSpring Health Services during the first quarter valued at about $289,000. Finally, Magnetar Financial LLC bought a new stake in shares of BrightSpring Health Services during the first quarter worth about $8,795,000.

BrightSpring Health Services Stock Performance

BrightSpring Health Services stock opened at $18.75 on Thursday. The stock has a 50-day simple moving average of $16.33 and a 200 day simple moving average of $13.29. BrightSpring Health Services has a 52 week low of $7.85 and a 52 week high of $20.25. The stock has a market capitalization of $3.26 billion and a P/E ratio of -72.12. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.97 and a current ratio of 1.35.

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

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.