BrightSpring Health Services (NASDAQ:BTSG) Hits New 12-Month High – Time to Buy?

BrightSpring Health Services, Inc. (NASDAQ:BTSG) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $23.19 and last traded at $22.93, with a volume of 193733 shares trading hands. The stock had previously closed at $22.82.

Wall Street Analysts Forecast Growth

BTSG has been the subject of a number of research analyst reports. BTIG Research lifted their price objective on shares of BrightSpring Health Services from $15.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Bank of America lifted their target price on BrightSpring Health Services from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. UBS Group raised their price target on BrightSpring Health Services from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Mizuho upped their price objective 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. Finally, CJS Securities started coverage on shares of BrightSpring Health Services in a report on Thursday, December 12th. They issued an “outperform” rating and a $27.00 price target for the company. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.65.

BrightSpring Health Services Price Performance

The company has a quick ratio of 0.97, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. The business has a 50 day simple moving average of $18.51 and a 200 day simple moving average of $15.76.

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

Institutional Trading of BrightSpring Health Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. L & S Advisors Inc purchased a new position in shares of BrightSpring Health Services in the third quarter worth about $1,247,000. Virtu Financial LLC acquired a new position in BrightSpring Health Services during the third quarter valued at $522,000. Assenagon Asset Management S.A. purchased a new stake in BrightSpring Health Services in the third quarter valued at $1,822,000. LMR Partners LLP acquired a new stake in BrightSpring Health Services during the 3rd quarter worth about $493,000. Finally, JPMorgan Chase & Co. lifted its holdings in BrightSpring Health Services by 275.2% in the third quarter. JPMorgan Chase & Co. now owns 163,618 shares of the company’s stock valued at $2,402,000 after acquiring an additional 120,005 shares during the period.

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.