BrightSpring Health Services (NASDAQ:BTSG) Sees Large Volume Increase – Should You Buy?

BrightSpring Health Services, Inc. (NASDAQ:BTSG) shares saw unusually-strong trading volume on Friday . Approximately 6,100,226 shares traded hands during mid-day 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.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BTSG shares. Bank of America upped their price target on BrightSpring Health Services from $19.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company increased 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. UBS Group increased 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. CJS Securities started coverage on BrightSpring Health Services in a report on Thursday. They issued an “outperform” rating and a $27.00 target price for the company. Finally, Mizuho increased 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. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $18.50.

BrightSpring Health Services Stock Performance

The firm has a market capitalization of $3.26 billion and a P/E ratio of -73.92. The stock has a 50-day moving average of $17.41 and a 200 day moving average of $14.00. 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 EPS 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 the consensus estimate of $2.72 billion. BrightSpring Health Services had a negative net margin of 0.38% and a positive return on equity of 4.16%. The company’s revenue for the quarter was up 28.8% on a year-over-year basis. On average, research analysts anticipate that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. nVerses Capital LLC bought a new position in BrightSpring Health Services in the 2nd quarter valued at $55,000. California State Teachers Retirement System bought a new position in BrightSpring Health Services in the 1st quarter valued at $59,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of BrightSpring Health Services in the 2nd quarter valued at $126,000. Intech Investment Management LLC acquired a new position in shares of BrightSpring Health Services in the 3rd quarter valued at $159,000. Finally, Arizona State Retirement System acquired a new position in shares of BrightSpring Health Services in the 2nd quarter valued at $163,000.

BrightSpring Health Services Company Profile

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.