BrightSpring Health Services (NASDAQ:BTSG) Sees Unusually-High Trading Volume – Still a Buy?

Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) saw unusually-strong trading volume on Friday . Approximately 6,100,226 shares were traded during trading, an increase of 315% from the previous session’s volume of 1,468,685 shares.The stock last traded at $18.54 and had previously closed at $17.94.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BTSG shares. BTIG Research raised their price target on BrightSpring Health Services from $15.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Guggenheim raised their price target on BrightSpring Health Services from $15.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Mizuho lifted their target price on BrightSpring Health Services from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Wells Fargo & Company lifted their target price on BrightSpring Health Services from $17.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Finally, UBS Group lifted their target price on BrightSpring Health Services from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.50.

BrightSpring Health Services Trading Up 3.5 %

The company has a market cap of $3.23 billion and a PE ratio of -71.38. 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 company has a 50-day moving average of $17.49 and a 200 day moving average of $14.07.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings results on Friday, November 1st. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.07). The company had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.72 billion. BrightSpring Health Services had a positive return on equity of 4.16% and a negative net margin of 0.38%. The company’s quarterly revenue was up 28.8% compared to the same quarter last year. Analysts predict that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its position in shares of BrightSpring Health Services by 5.0% during the third quarter. BNP Paribas Financial Markets now owns 21,329 shares of the company’s stock valued at $313,000 after buying an additional 1,011 shares during the period. nVerses Capital LLC purchased a new position in shares of BrightSpring Health Services during the second quarter valued at approximately $55,000. California State Teachers Retirement System purchased a new position in shares of BrightSpring Health Services during the first quarter valued at approximately $59,000. Charles Schwab Investment Management Inc. boosted its position 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 valued at $6,464,000 after buying an additional 6,326 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of BrightSpring Health Services by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,304,214 shares of the company’s stock valued at $19,150,000 after buying an additional 7,750 shares during the period.

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.