BrightSpring Health Services (NASDAQ:BTSG) Trading Up 3.2%

BrightSpring Health Services, Inc. (NASDAQ:BTSG)’s stock price shot up 3.2% during mid-day trading on Tuesday . The company traded as high as $12.39 and last traded at $12.37. 343,848 shares were traded during trading, a decline of 77% from the average session volume of 1,486,502 shares. The stock had previously closed at $11.99.

Wall Street Analyst Weigh In

BTSG has been the topic of several analyst reports. Wells Fargo & Company lifted their price objective on BrightSpring Health Services from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. BTIG Research started coverage on BrightSpring Health Services in a research note on Friday, June 21st. They issued a “buy” rating and a $15.00 price target on the stock. Finally, The Goldman Sachs Group dropped their price objective on BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $15.32.

BrightSpring Health Services Stock Performance

The company has a debt-to-equity ratio of 1.62, a current ratio of 1.26 and a quick ratio of 0.96. The stock has a 50-day moving average price of $11.42 and a two-hundred day moving average price of $10.83.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.61 billion. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. Research analysts forecast that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current year.

Hedge Funds Weigh In On BrightSpring Health Services

Several hedge funds and other institutional investors have recently modified their holdings of BTSG. The Manufacturers Life Insurance Company lifted its holdings in BrightSpring Health Services by 10.2% in the second quarter. The Manufacturers Life Insurance Company now owns 117,026 shares of the company’s stock worth $1,329,000 after buying an additional 10,854 shares during the period. Magnetar Financial LLC lifted its stake in shares of BrightSpring Health Services by 46.9% in the 2nd quarter. Magnetar Financial LLC now owns 1,188,302 shares of the company’s stock valued at $13,499,000 after purchasing an additional 379,149 shares during the period. Renaissance Technologies LLC lifted its stake in shares of BrightSpring Health Services by 12.3% in the 2nd quarter. Renaissance Technologies LLC now owns 175,500 shares of the company’s stock valued at $1,994,000 after purchasing an additional 19,200 shares during the period. American Century Companies Inc. bought a new stake in shares of BrightSpring Health Services during the second quarter valued at approximately $216,000. Finally, ClariVest Asset Management LLC purchased a new stake in BrightSpring Health Services in the second quarter worth $1,725,000.

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.