BrightSpring Health Services (NASDAQ:BTSG) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

BrightSpring Health Services (NASDAQ:BTSG) had its target price upped by stock analysts at Wells Fargo & Company from $17.00 to $21.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 10.24% from the company’s previous close.

BTSG has been the topic of several other reports. Guggenheim increased their price objective on BrightSpring Health Services from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Mizuho raised their price target on shares of BrightSpring Health Services from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, November 4th. KeyCorp started coverage on shares of BrightSpring Health Services in a report on Friday, October 11th. They set a “sector weight” rating for the company. UBS Group increased their price objective on shares of BrightSpring Health Services from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, BTIG Research lifted their target price on shares of BrightSpring Health Services from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, BrightSpring Health Services presently has an average rating of “Moderate Buy” and a consensus price target of $17.21.

BrightSpring Health Services Stock Up 1.7 %

Shares of BrightSpring Health Services stock opened at $19.05 on Wednesday. The company has a 50-day simple moving average of $16.60 and a two-hundred day simple moving average of $13.46. The stock has a market capitalization of $3.32 billion and a PE ratio of -73.27. BrightSpring Health Services has a 52-week low of $7.85 and a 52-week high of $20.25. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.97 and a current ratio of 1.35.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings data on Friday, November 1st. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). The firm 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 business’s quarterly revenue was up 28.8% on a year-over-year basis. On average, analysts anticipate that BrightSpring Health Services will post 0.59 EPS for the current fiscal year.

Insider Activity at BrightSpring Health Services

In other BrightSpring Health Services news, major shareholder Kkr Group Partnership L.P. bought 11,619,998 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was purchased at an average price of $11.13 per share, for a total transaction of $129,330,577.74. Following the completion of the transaction, the insider now owns 92,959,984 shares of the company’s stock, valued at $1,034,644,621.92. This trade represents a 14.29 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in shares of BrightSpring Health Services by 17.2% in the third quarter. FMR LLC now owns 18,169,187 shares of the company’s stock worth $266,724,000 after buying an additional 2,664,582 shares in the last quarter. Vanguard Group Inc. bought a new stake in BrightSpring Health Services in the 1st quarter valued at $54,638,000. Price T Rowe Associates Inc. MD purchased a new stake in BrightSpring Health Services in the 1st quarter worth $16,260,000. Geode Capital Management LLC lifted its stake in BrightSpring Health Services by 0.6% in 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 in the last quarter. Finally, State Street Corp boosted its holdings in shares of BrightSpring Health Services by 7.4% during the 3rd quarter. State Street Corp now owns 1,239,628 shares of the company’s stock valued at $18,198,000 after purchasing an additional 85,464 shares during the last quarter.

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.