Morgan Stanley Issues Positive Forecast for BrightSpring Health Services (NASDAQ:BTSG) Stock Price

BrightSpring Health Services (NASDAQ:BTSG) had its price objective raised by investment analysts at Morgan Stanley from $19.00 to $20.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 16.75% from the stock’s previous close.

Several other brokerages have also recently weighed in on BTSG. CJS Securities started coverage on BrightSpring Health Services in a report on Thursday, December 12th. They set an “outperform” rating and a $27.00 target price on the stock. Wells Fargo & Company lifted their price target on BrightSpring Health Services from $17.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Guggenheim upped their price objective on shares of BrightSpring Health Services from $15.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. UBS Group raised their price objective on BrightSpring Health Services from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, BTIG Research lifted 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. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.65.

BrightSpring Health Services Stock Performance

Shares of BrightSpring Health Services stock opened at $17.13 on Tuesday. 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 company has a 50 day moving average price of $17.64 and a 200 day moving average price of $14.19. BrightSpring Health Services has a 52 week low of $7.85 and a 52 week high of $20.25. The firm has a market capitalization of $2.98 billion and a P/E ratio of -65.88.

BrightSpring Health Services (NASDAQ:BTSG) last issued its quarterly earnings data on Friday, November 1st. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates 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 for the quarter was up 28.8% on a year-over-year basis. Sell-side analysts expect that BrightSpring Health Services will post 0.59 EPS for the current year.

Institutional Investors Weigh In On BrightSpring Health Services

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. L & S Advisors Inc bought a new stake in shares of BrightSpring Health Services in the 3rd quarter worth $1,247,000. Virtu Financial LLC acquired a new stake in shares of BrightSpring Health Services during the third quarter valued at approximately $522,000. TD Asset Management Inc purchased a new stake in shares of BrightSpring Health Services in the 2nd quarter valued at approximately $2,308,000. Magnetar Financial LLC grew its position in BrightSpring Health Services by 46.9% during the 2nd quarter. Magnetar Financial LLC now owns 1,188,302 shares of the company’s stock worth $13,499,000 after purchasing an additional 379,149 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in BrightSpring Health Services during the 3rd quarter valued at $1,822,000.

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.