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

BrightSpring Health Services, Inc. (NASDAQ:BTSG)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $16.41 and last traded at $16.37, with a volume of 3918 shares. The stock had previously closed at $16.26.

Analyst Ratings Changes

BTSG has been the topic of several research analyst reports. 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 note on Friday, August 9th. KeyCorp assumed coverage on BrightSpring Health Services in a report on Friday, October 11th. They set a “sector weight” rating for the company. Guggenheim increased their price objective on BrightSpring Health Services from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Finally, BTIG Research upped their price target on BrightSpring Health Services from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $16.05.

BrightSpring Health Services Stock Performance

The firm has a fifty day moving average price of $13.82 and a 200 day moving average price of $12.09. 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 (NASDAQ:BTSG) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The company had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.61 billion. BrightSpring Health Services’s revenue was up 26.0% compared to the same quarter last year. On average, sell-side analysts expect that BrightSpring Health Services, Inc. will post 0.57 EPS for the current fiscal year.

Insider Transactions at BrightSpring Health Services

In related news, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was acquired at an average price of $11.13 per share, with a total value of $129,330,577.74. Following the completion of the acquisition, the insider now directly owns 92,959,984 shares in the company, valued at approximately $1,034,644,621.92. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Hedge Funds Weigh In On BrightSpring Health Services

Several hedge funds have recently added to or reduced their stakes in BTSG. nVerses Capital LLC acquired a new position in BrightSpring Health Services during the 2nd quarter valued at about $55,000. Ameritas Investment Partners Inc. acquired a new position in BrightSpring Health Services in the first quarter valued at approximately $58,000. California State Teachers Retirement System bought a new position in BrightSpring Health Services in the first quarter valued at approximately $59,000. The Manufacturers Life Insurance Company grew its holdings in BrightSpring Health Services by 10.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 117,026 shares of the company’s stock worth $1,329,000 after acquiring an additional 10,854 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of BrightSpring Health Services in the 2nd quarter valued at $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.