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

BrightSpring Health Services (NASDAQ:BTSG) had its target price upped by BTIG Research from $15.00 to $20.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also recently issued reports on the stock. Guggenheim boosted their target price on shares of BrightSpring Health Services from $15.00 to $18.00 and gave the company a buy rating in a research note on Tuesday, October 1st. The Goldman Sachs Group decreased their price objective on shares of BrightSpring Health Services from $21.00 to $18.00 and set a buy rating for the company in a research report on Friday, August 9th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of $16.05.

BrightSpring Health Services Price Performance

NASDAQ:BTSG opened at $14.76 on Thursday. The firm’s fifty day moving average is $13.10 and its two-hundred day moving average is $11.73. 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 one year low of $7.85 and a one year high of $15.47.

BrightSpring Health Services (NASDAQ:BTSG) last issued its earnings results on Friday, August 2nd. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The firm had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.61 billion. The company’s quarterly revenue was up 26.0% on a year-over-year basis. As a group, equities analysts forecast that BrightSpring Health Services will post 0.57 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were bought at an average price of $11.13 per share, for a total transaction of $129,330,577.74. Following the acquisition, the insider now owns 92,959,984 shares of the company’s stock, valued at approximately $1,034,644,621.92. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BTSG. nVerses Capital LLC purchased a new position in BrightSpring Health Services during the second quarter worth approximately $55,000. Ameritas Investment Partners Inc. acquired a new position in shares of BrightSpring Health Services during the 1st quarter valued at about $58,000. California State Teachers Retirement System purchased a new stake in shares of BrightSpring Health Services in the first quarter valued at about $59,000. The Manufacturers Life Insurance Company increased its position in BrightSpring Health Services by 10.2% during the second quarter. The Manufacturers Life Insurance Company now owns 117,026 shares of the company’s stock worth $1,329,000 after purchasing an additional 10,854 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in BrightSpring Health Services during the second quarter worth about $126,000.

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.