BrightSpring Health Services (NASDAQ:BTSG) Price Target Raised to $16.00 at Wells Fargo & Company

BrightSpring Health Services (NASDAQ:BTSG) had its price target boosted by Wells Fargo & Company from $15.00 to $16.00 in a research note published on Monday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also recently commented on BTSG. HSBC started coverage on shares of BrightSpring Health Services in a research report on Wednesday, March 6th. They set a buy rating and a $13.00 price target on the stock. SVB Leerink started coverage on BrightSpring Health Services in a research report on Tuesday, February 20th. They set an outperform rating and a $15.00 price target for the company. Guggenheim initiated coverage on BrightSpring Health Services in a research report on Tuesday, February 20th. They set a buy rating and a $15.00 price target on the stock. Bank of America began coverage on BrightSpring Health Services in a research note on Tuesday, February 20th. They set a buy rating and a $14.00 price objective on the stock. Finally, Leerink Partnrs reissued an outperform rating on shares of BrightSpring Health Services in a research note on Tuesday, February 20th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $15.85.

BrightSpring Health Services Price Performance

Shares of BrightSpring Health Services stock opened at $11.41 on Monday. The company has a 50 day moving average price of $10.00. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 5.73. BrightSpring Health Services has a 52-week low of $7.85 and a 52-week high of $12.14.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. The business had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.31 billion. BrightSpring Health Services’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.10) earnings per share. As a group, equities analysts forecast that BrightSpring Health Services will post 0.67 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Jennifer A. Phipps purchased 12,300 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $8.14 per share, for a total transaction of $100,122.00. Following the purchase, the chief accounting officer now owns 165,618 shares in the company, valued at $1,348,130.52. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Jennifer A. Phipps purchased 12,300 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $8.14 per share, with a total value of $100,122.00. Following the acquisition, the chief accounting officer now owns 165,618 shares in the company, valued at approximately $1,348,130.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James F. Mattingly, Jr. acquired 12,280 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average cost of $8.18 per share, for a total transaction of $100,450.40. Following the completion of the acquisition, the insider now owns 128,700 shares in the company, valued at $1,052,766. The disclosure for this purchase can be found here.

Institutional Trading of BrightSpring Health Services

Institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets bought a new position in shares of BrightSpring Health Services during the first quarter worth approximately $280,000. Capstone Investment Advisors LLC acquired a new stake in BrightSpring Health Services during the first quarter worth approximately $9,722,000. Finally, Seven Grand Managers LLC bought a new position in BrightSpring Health Services during the 1st quarter worth $1,630,000.

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.