BrightSpring Health Services (NASDAQ:BTSG) Reaches New 52-Week High – Time to Buy?

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

Analysts Set New Price Targets

BTSG has been the topic of several research analyst reports. KeyCorp began coverage on shares of BrightSpring Health Services in a research report on Friday, October 11th. They set a “sector weight” rating on the stock. Wells Fargo & Company boosted their price objective on shares of BrightSpring Health Services from $17.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. BTIG Research raised their target price on BrightSpring Health Services from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. CJS Securities began coverage on BrightSpring Health Services in a research note on Thursday, December 12th. They set an “outperform” rating and a $27.00 price target on the stock. Finally, Guggenheim raised their price objective on BrightSpring Health Services from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, BrightSpring Health Services presently has an average rating of “Moderate Buy” and a consensus target price of $18.65.

BrightSpring Health Services Price Performance

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

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets increased its holdings in BrightSpring Health Services by 5.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 21,329 shares of the company’s stock worth $313,000 after acquiring an additional 1,011 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of BrightSpring Health Services by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 440,335 shares of the company’s stock worth $6,464,000 after purchasing an additional 6,326 shares in the last quarter. Geode Capital Management LLC raised its position in shares of BrightSpring Health Services by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,304,214 shares of the company’s stock worth $19,150,000 after purchasing an additional 7,750 shares during the last quarter. nVerses Capital LLC lifted its stake in BrightSpring Health Services by 195.8% in 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. Finally, Intech Investment Management LLC acquired a new stake in BrightSpring Health Services in the 3rd quarter worth about $159,000.

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.