BrightSpring Health Services (NASDAQ:BTSG) Announces Earnings Results, Misses Estimates By $0.07 EPS

BrightSpring Health Services (NASDAQ:BTSG) released its earnings results on Friday. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07), Briefing.com reports. The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.72 billion. The business’s revenue for the quarter was up 28.8% on a year-over-year basis. BrightSpring Health Services updated its FY 2024 guidance to EPS.

BrightSpring Health Services Stock Up 15.2 %

BrightSpring Health Services stock traded up $2.28 during midday trading on Friday, reaching $17.25. The company’s stock had a trading volume of 5,067,777 shares, compared to its average volume of 1,495,055. BrightSpring Health Services has a 52-week low of $7.85 and a 52-week high of $17.54. The company has a current ratio of 1.33, a quick ratio of 1.00 and a debt-to-equity ratio of 1.62. The stock’s 50-day simple moving average is $14.58 and its 200-day simple moving average is $12.44.

Insider Activity

In related news, major shareholder Kkr Group Partnership L.P. bought 11,619,998 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were bought at an average price of $11.13 per share, with a total value of $129,330,577.74. Following the transaction, the insider now 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Guggenheim lifted their price target 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. BTIG Research increased their price target on BrightSpring Health Services from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. KeyCorp assumed coverage on BrightSpring Health Services in a report on Friday, October 11th. They issued a “sector weight” rating for the company. UBS Group increased their target price on shares of BrightSpring Health Services from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, The Goldman Sachs Group reduced their price target on shares of BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating for the company in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $16.50.

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.