Wells Fargo & Company Forecasts Strong Price Appreciation for BrightSpring Health Services (NASDAQ:BTSG) Stock

BrightSpring Health Services (NASDAQ:BTSGGet Free Report) had its target price increased by equities researchers at Wells Fargo & Company from $17.00 to $21.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 8.02% from the company’s current price.

Other analysts have also issued reports about the stock. UBS Group lifted their price target on shares of BrightSpring Health Services from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Mizuho raised their price target on BrightSpring Health Services from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Guggenheim upped their price objective on BrightSpring Health Services from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. KeyCorp assumed coverage on shares of BrightSpring Health Services in a research report on Friday, October 11th. They set a “sector weight” rating for the company. Finally, The Goldman Sachs Group dropped their price objective on shares of 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 investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, BrightSpring Health Services has a consensus rating of “Moderate Buy” and a consensus price target of $17.21.

Check Out Our Latest Analysis on BTSG

BrightSpring Health Services Stock Up 3.7 %

Shares of NASDAQ:BTSG traded up $0.70 on Wednesday, hitting $19.44. 228,807 shares of the company traded hands, compared to its average volume of 1,470,226. The company has a market cap of $3.39 billion and a PE ratio of -74.77. The stock has a 50 day simple moving average of $16.51 and a 200-day simple moving average of $13.42. BrightSpring Health Services has a 52 week low of $7.85 and a 52 week high of $20.25. The company has a quick ratio of 0.97, a current ratio of 1.35 and a debt-to-equity ratio of 1.63.

BrightSpring Health Services (NASDAQ:BTSGGet Free Report) last issued its earnings results on Friday, November 1st. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.72 billion. BrightSpring Health Services had a positive return on equity of 4.16% and a negative net margin of 0.38%. The firm’s revenue was up 28.8% compared to the same quarter last year. As a group, research analysts expect that BrightSpring Health Services will post 0.59 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were acquired at an average cost of $11.13 per share, for a total transaction of $129,330,577.74. Following the acquisition, the insider now owns 92,959,984 shares of the company’s stock, valued at $1,034,644,621.92. The trade was a 14.29 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets increased its position in BrightSpring Health Services by 5.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 21,329 shares of the company’s stock valued at $313,000 after buying an additional 1,011 shares in the last quarter. nVerses Capital LLC acquired a new stake in BrightSpring Health Services during the second quarter worth about $55,000. California State Teachers Retirement System acquired a new stake in shares of BrightSpring Health Services during the 1st quarter worth approximately $59,000. Charles Schwab Investment Management Inc. increased its holdings in shares of BrightSpring Health Services by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 440,335 shares of the company’s stock worth $6,464,000 after buying an additional 6,326 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in BrightSpring Health Services by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,304,214 shares of the company’s stock valued at $19,150,000 after acquiring an additional 7,750 shares during the last quarter.

BrightSpring Health Services Company Profile

(Get Free Report)

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.

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Analyst Recommendations for BrightSpring Health Services (NASDAQ:BTSG)

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