Guggenheim Increases BrightSpring Health Services (NASDAQ:BTSG) Price Target to $18.00

BrightSpring Health Services (NASDAQ:BTSG) had its price objective increased by research analysts at Guggenheim from $15.00 to $18.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s price objective would suggest a potential upside of 21.54% from the company’s previous close.

Several other analysts have also recently issued reports on the stock. The Goldman Sachs Group cut their price target on shares of BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, August 9th. BTIG Research initiated coverage on shares of BrightSpring Health Services in a report on Friday, June 21st. They set a “buy” rating and a $15.00 target price on the stock. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $15.59.

BrightSpring Health Services Stock Up 0.2 %

BTSG opened at $14.81 on Tuesday. The firm’s fifty day moving average price is $12.94 and its 200 day moving average price is $11.60. The company has a quick ratio of 1.00, a current ratio of 1.33 and a debt-to-equity ratio of 1.62. BrightSpring Health Services has a 12-month low of $7.85 and a 12-month high of $15.47.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.08). The company had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.61 billion. The business’s revenue was up 26.0% compared to the same quarter last year. On average, equities research analysts anticipate that BrightSpring Health Services will post 0.57 earnings per share for the current fiscal year.

Insider Transactions at BrightSpring Health Services

In other news, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of the stock in a transaction dated Wednesday, September 11th. The stock was acquired at an average price of $11.13 per share, for a total transaction of $129,330,577.74. Following the completion of the transaction, the insider now owns 92,959,984 shares of the company’s stock, valued at $1,034,644,621.92. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

Hedge Funds Weigh In On BrightSpring Health Services

Several institutional investors have recently modified their holdings of BTSG. Kohlberg Kravis Roberts & Co. L.P. bought a new position in shares of BrightSpring Health Services during the first quarter worth about $884,166,000. 8 Knots Management LLC bought a new position in BrightSpring Health Services in the 1st quarter valued at about $67,678,000. Vanguard Group Inc. bought a new position in BrightSpring Health Services in the 1st quarter valued at about $54,638,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in BrightSpring Health Services in the 1st quarter valued at about $35,328,000. Finally, Price T Rowe Associates Inc. MD bought a new position in BrightSpring Health Services in the 1st quarter valued at about $16,260,000.

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.