BrightSpring Health Services (NASDAQ:BTSG) Price Target Raised to $20.00

BrightSpring Health Services (NASDAQ:BTSG) had its price objective increased by Mizuho from $17.00 to $20.00 in a research report sent to investors on Monday, Benzinga reports. Mizuho currently has an outperform rating on the stock.

Other equities analysts have also issued reports about the company. The Goldman Sachs Group lowered their target price on BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. KeyCorp began coverage on shares of BrightSpring Health Services in a report on Friday, October 11th. They set a “sector weight” rating on the stock. BTIG Research boosted their target price on shares of BrightSpring Health Services from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Guggenheim upped their target price 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. Finally, UBS Group lifted their price target on BrightSpring Health Services from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, BrightSpring Health Services currently has a consensus rating of “Moderate Buy” and an average target price of $16.79.

BrightSpring Health Services Stock Performance

Shares of BrightSpring Health Services stock opened at $18.35 on Monday. The business has a 50-day moving average price of $14.87 and a two-hundred day moving average price of $12.61. BrightSpring Health Services has a 1-year low of $7.85 and a 1-year high of $18.40. The company has a current ratio of 1.33, a quick ratio of 1.00 and a debt-to-equity ratio of 1.62. The company has a market cap of $3.15 billion and a P/E ratio of -70.58.

BrightSpring Health Services (NASDAQ:BTSG) last released 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). The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.72 billion. BrightSpring Health Services had a negative net margin of 0.38% and a positive return on equity of 4.47%. The company’s quarterly revenue was up 28.8% on a year-over-year basis. As a group, analysts anticipate that BrightSpring Health Services will post 0.55 EPS for the current year.

Insider Buying and Selling

In other BrightSpring Health Services news, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of BrightSpring Health Services stock in a transaction on Wednesday, September 11th. The stock was purchased at an average price of $11.13 per share, for a total transaction of $129,330,577.74. Following the purchase, the insider now directly owns 92,959,984 shares of the company’s stock, valued at $1,034,644,621.92. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP raised its stake in shares of BrightSpring Health Services by 65.8% in the third quarter. GSA Capital Partners LLP now owns 198,998 shares of the company’s stock valued at $2,921,000 after buying an additional 78,965 shares during the period. Versor Investments LP bought a new stake in shares of BrightSpring Health Services during the 3rd quarter valued at $463,000. Lisanti Capital Growth LLC purchased a new stake in BrightSpring Health Services during the 3rd quarter worth about $4,659,000. Assenagon Asset Management S.A. bought a new position in BrightSpring Health Services in the 3rd quarter worth about $1,822,000. Finally, nVerses Capital LLC grew its holdings in BrightSpring Health Services by 195.8% during the 3rd quarter. nVerses Capital LLC now owns 14,200 shares of the company’s stock valued at $208,000 after buying an additional 9,400 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.