BrightSpring Health Services (NASDAQ:BTSG) Price Target Raised to $20.00

BrightSpring Health Services (NASDAQ:BTSG) had its target price raised by Morgan Stanley from $19.00 to $20.00 in a research note issued to investors on Tuesday,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

BTSG has been the topic of several other research reports. CJS Securities began coverage on shares of BrightSpring Health Services in a report on Thursday, December 12th. They set an “outperform” rating and a $27.00 target price on the stock. UBS Group boosted their price objective on BrightSpring Health Services from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their target price on BrightSpring Health Services from $17.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Mizuho boosted their price target on BrightSpring Health Services from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Finally, KeyCorp initiated coverage on shares of BrightSpring Health Services in a research report on Friday, October 11th. They issued a “sector weight” rating for the company. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.65.

BrightSpring Health Services Stock Performance

BrightSpring Health Services stock opened at $17.04 on Tuesday. The company has a market cap of $2.97 billion and a price-to-earnings ratio of -65.54. BrightSpring Health Services has a 12 month low of $7.85 and a 12 month high of $20.25. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 0.97. The stock’s 50-day moving average is $17.68 and its 200-day moving average is $14.21.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings results on Friday, November 1st. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.07). The business had revenue of $2.91 billion during the quarter, compared to analysts’ expectations 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 business’s revenue for the quarter was up 28.8% compared to the same quarter last year. Equities analysts anticipate that BrightSpring Health Services will post 0.59 earnings per share for the current year.

Institutional Investors Weigh In On BrightSpring Health Services

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC acquired a new position in BrightSpring Health Services in the third quarter worth about $522,000. Geode Capital Management LLC lifted its holdings in BrightSpring Health Services by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,304,214 shares of the company’s stock worth $19,150,000 after buying an additional 7,750 shares during the last quarter. Barclays PLC lifted its holdings in BrightSpring Health Services by 22.2% during the 3rd quarter. Barclays PLC now owns 393,725 shares of the company’s stock worth $5,780,000 after buying an additional 71,633 shares during the last quarter. State Street Corp grew its position in shares of BrightSpring Health Services by 7.4% in the 3rd quarter. State Street Corp now owns 1,239,628 shares of the company’s stock worth $18,198,000 after acquiring an additional 85,464 shares in the last quarter. Finally, Verition Fund Management LLC increased its holdings in shares of BrightSpring Health Services by 34.2% in the 3rd quarter. Verition Fund Management LLC now owns 132,918 shares of the company’s stock valued at $1,951,000 after acquiring an additional 33,890 shares during the last quarter.

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.