BrightSpring Health Services (NASDAQ:BTSG) Announces Earnings Results, Misses Expectations By $0.07 EPS

BrightSpring Health Services (NASDAQ:BTSG) issued its quarterly earnings data on Friday. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07), Briefing.com reports. The company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.72 billion. The business’s revenue for the quarter was up 28.8% on a year-over-year basis. BrightSpring Health Services updated its FY 2024 guidance to EPS.

BrightSpring Health Services Price Performance

Shares of BrightSpring Health Services stock opened at $17.25 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.33 and a debt-to-equity ratio of 1.62. The business has a 50-day simple moving average of $14.58 and a 200 day simple moving average of $12.44. BrightSpring Health Services has a one year low of $7.85 and a one year high of $17.54.

Insiders Place Their Bets

In related news, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was purchased at an average cost of $11.13 per share, with a total value of $129,330,577.74. Following the acquisition, the insider now owns 92,959,984 shares of the company’s stock, valued at approximately $1,034,644,621.92. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Analysts Set New Price Targets

Several research analysts have commented on the company. KeyCorp assumed coverage on BrightSpring Health Services in a report on Friday, October 11th. They set a “sector weight” rating on the stock. BTIG Research lifted their target price on BrightSpring Health Services from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Guggenheim lifted their target price on BrightSpring Health Services from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. UBS Group lifted their target price on BrightSpring Health Services from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, The Goldman Sachs Group cut 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. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $16.50.

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.