BrightSpring Health Services (NASDAQ:BTSG) Price Target Raised to $21.00 at Wells Fargo & Company

BrightSpring Health Services (NASDAQ:BTSG) had its price target hoisted by Wells Fargo & Company from $17.00 to $21.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

BTSG has been the topic of a number of other reports. The Goldman Sachs Group decreased their target price on BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Guggenheim upped their price objective on shares of BrightSpring Health Services from $15.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Mizuho raised their target price on shares of BrightSpring Health Services from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. BTIG Research upped their price target on shares of BrightSpring Health Services from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, KeyCorp initiated coverage on shares of BrightSpring Health Services in a research report on Friday, October 11th. They set a “sector weight” rating for the company. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, BrightSpring Health Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.21.

BrightSpring Health Services Stock Performance

NASDAQ BTSG opened at $19.05 on Wednesday. The firm has a market capitalization of $3.32 billion and a P/E ratio of -74.77. The company has a current ratio of 1.35, a quick ratio of 0.97 and a debt-to-equity ratio of 1.63. The firm’s fifty day moving average price is $16.51 and its two-hundred day moving average price is $13.42. BrightSpring Health Services has a 1 year low of $7.85 and a 1 year high of $20.25.

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

Insider Activity

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 on Wednesday, September 11th. The stock was purchased at an average cost of $11.13 per share, for a total transaction of $129,330,577.74. Following the completion of the purchase, the insider now directly owns 92,959,984 shares of the company’s stock, valued at approximately $1,034,644,621.92. This trade represents a 14.29 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Institutional Trading of BrightSpring Health Services

A number of hedge funds have recently made changes to their positions in BTSG. Price T Rowe Associates Inc. MD bought a new position in BrightSpring Health Services in the 1st quarter valued at approximately $16,260,000. L & S Advisors Inc acquired a new position in BrightSpring Health Services in the 3rd quarter valued at approximately $1,247,000. TD Asset Management Inc bought a new position in shares of BrightSpring Health Services during the second quarter valued at $2,308,000. Magnetar Financial LLC raised its stake in shares of BrightSpring Health Services by 46.9% during the second quarter. Magnetar Financial LLC now owns 1,188,302 shares of the company’s stock valued at $13,499,000 after acquiring an additional 379,149 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of BrightSpring Health Services during the third quarter worth $1,822,000.

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.