BrightSpring Health Services (NASDAQ:BTSG) Reaches New 1-Year High – What’s Next?

BrightSpring Health Services, Inc. (NASDAQ:BTSG) reached a new 52-week high during trading on Tuesday . The stock traded as high as $20.91 and last traded at $20.09, with a volume of 362728 shares trading hands. The stock had previously closed at $18.55.

Wall Street Analyst Weigh In

BTSG has been the topic of a number of research reports. Guggenheim raised their price objective on BrightSpring Health Services from $15.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Bank of America raised their price target on shares of BrightSpring Health Services from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. KeyCorp assumed coverage on shares of BrightSpring Health Services in a research note on Friday, October 11th. They set a “sector weight” rating for the company. Wells Fargo & Company raised their target price on shares of BrightSpring Health Services from $17.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Finally, CJS Securities started coverage on BrightSpring Health Services in a research report on Thursday, December 12th. They issued an “outperform” rating and a $27.00 price target for the company. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, BrightSpring Health Services presently has an average rating of “Moderate Buy” and an average price target of $18.65.

BrightSpring Health Services Stock Performance

The firm’s fifty day moving average is $18.16 and its 200-day moving average is $15.29. The company has a current ratio of 1.35, a quick ratio of 0.97 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $3.55 billion and a PE ratio of -78.48.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly 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 for the quarter, compared to analyst estimates of $2.72 billion. The company’s revenue was up 28.8% compared to the same quarter last year. As a group, research analysts anticipate that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Intech Investment Management LLC acquired a new position in BrightSpring Health Services during the 3rd quarter worth about $159,000. nVerses Capital LLC increased its stake in BrightSpring Health Services by 195.8% during the third quarter. nVerses Capital LLC now owns 14,200 shares of the company’s stock worth $208,000 after purchasing an additional 9,400 shares during the period. American Century Companies Inc. acquired a new stake in shares of BrightSpring Health Services during the second quarter worth about $216,000. BNP Paribas Financial Markets boosted its stake in shares of BrightSpring Health Services by 5.0% in the third quarter. BNP Paribas Financial Markets now owns 21,329 shares of the company’s stock valued at $313,000 after purchasing an additional 1,011 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of BrightSpring Health Services in the third quarter valued at approximately $360,000.

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.