BrightSpring Health Services (NASDAQ:BTSG) Shares Gap Up to $11.15

BrightSpring Health Services, Inc. (NASDAQ:BTSGGet Free Report)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $11.15, but opened at $11.47. BrightSpring Health Services shares last traded at $11.38, with a volume of 28,565 shares traded.

Analyst Ratings Changes

Several analysts recently weighed in on BTSG shares. The Goldman Sachs Group cut their price target on BrightSpring Health Services from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. UBS Group started coverage on BrightSpring Health Services in a research note on Tuesday, February 20th. They issued a “buy” rating and a $15.00 price target on the stock. Guggenheim started coverage on BrightSpring Health Services in a research note on Tuesday, February 20th. They issued a “buy” rating and a $15.00 price target on the stock. Bank of America started coverage on BrightSpring Health Services in a research note on Tuesday, February 20th. They issued a “buy” rating and a $14.00 price target on the stock. Finally, Wells Fargo & Company upped their price target on BrightSpring Health Services from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $15.85.

Check Out Our Latest Research Report on BTSG

BrightSpring Health Services Stock Performance

The firm’s fifty day simple moving average is $10.47. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.26 and a quick ratio of 0.96.

BrightSpring Health Services (NASDAQ:BTSGGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.06. The firm had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.31 billion. BrightSpring Health Services’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.10) earnings per share. On average, sell-side analysts predict that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Activity at BrightSpring Health Services

In related news, insider James F. Mattingly, Jr. bought 12,280 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average cost of $8.18 per share, for a total transaction of $100,450.40. Following the completion of the transaction, the insider now owns 128,700 shares of the company’s stock, valued at $1,052,766. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other BrightSpring Health Services news, insider James F. Mattingly, Jr. purchased 12,280 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were acquired at an average cost of $8.18 per share, with a total value of $100,450.40. Following the completion of the acquisition, the insider now directly owns 128,700 shares in the company, valued at $1,052,766. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Jennifer A. Phipps purchased 12,300 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were acquired at an average cost of $8.14 per share, for a total transaction of $100,122.00. Following the completion of the acquisition, the chief accounting officer now owns 165,618 shares of the company’s stock, valued at $1,348,130.52. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 25,580 shares of company stock worth $212,032.

Institutional Investors Weigh In On BrightSpring Health Services

Several large investors have recently made changes to their positions in the company. Kohlberg Kravis Roberts & Co. L.P. bought a new stake in shares of BrightSpring Health Services in the first quarter worth about $884,166,000. 8 Knots Management LLC bought a new stake in shares of BrightSpring Health Services in the first quarter worth about $67,678,000. Vanguard Group Inc. bought a new stake in BrightSpring Health Services during the first quarter worth approximately $54,638,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in BrightSpring Health Services during the first quarter worth approximately $35,328,000. Finally, Price T Rowe Associates Inc. MD bought a new stake in BrightSpring Health Services during the first quarter worth approximately $16,260,000.

BrightSpring Health Services Company Profile

(Get Free Report)

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.

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