UBS Group Issues Positive Forecast for BrightSpring Health Services (NASDAQ:BTSG) Stock Price

BrightSpring Health Services (NASDAQ:BTSG) had its price target increased by UBS Group from $16.00 to $20.00 in a research report report published on Wednesday morning, Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other research analysts have also weighed in on the stock. The Goldman Sachs Group decreased their price objective on shares of BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating for the company in a report on Friday, August 9th. Guggenheim lifted their price target on BrightSpring Health Services from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. BTIG Research upped their price objective on 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 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 twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $16.50.

BrightSpring Health Services Stock Performance

NASDAQ:BTSG opened at $14.96 on Wednesday. BrightSpring Health Services has a one year low of $7.85 and a one year high of $16.49. The company has a current ratio of 1.33, a quick ratio of 1.00 and a debt-to-equity ratio of 1.62. The business’s 50-day simple moving average is $14.37 and its 200 day simple moving average is $12.36.

BrightSpring Health Services (NASDAQ:BTSG) last announced its earnings results on Friday, August 2nd. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.61 billion. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. Research analysts forecast that BrightSpring Health Services will post 0.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of BrightSpring Health Services stock in a transaction dated Wednesday, September 11th. The stock was bought at an average price of $11.13 per share, with a total value of $129,330,577.74. Following the completion of the acquisition, the insider now owns 92,959,984 shares in the company, valued at $1,034,644,621.92. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Trading of BrightSpring Health Services

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets acquired a new stake in shares of BrightSpring Health Services in the first quarter valued at approximately $280,000. Capstone Investment Advisors LLC acquired a new stake in BrightSpring Health Services in the 1st quarter valued at approximately $9,722,000. Vanguard Group Inc. bought a new stake in BrightSpring Health Services during the 1st quarter valued at $54,638,000. Ameritas Investment Partners Inc. acquired a new position in BrightSpring Health Services during the 1st quarter worth $58,000. Finally, American International Group Inc. bought a new position in shares of BrightSpring Health Services in the first quarter worth $289,000.

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.