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

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

BrightSpring Health Services Stock Performance

Shares of BTSG stock traded up $2.28 during trading on Friday, hitting $17.25. 5,067,777 shares of the stock traded hands, compared to its average volume of 1,495,055. BrightSpring Health Services has a 52-week low of $7.85 and a 52-week high of $17.54. 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 firm’s fifty day moving average price is $14.58 and its 200-day moving average price is $12.44.

Analyst Ratings Changes

BTSG has been the topic of a number of recent analyst reports. KeyCorp assumed coverage on BrightSpring Health Services in a research report on Friday, October 11th. They set a “sector weight” rating on the stock. BTIG Research upped their price target on shares of BrightSpring Health Services from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Guggenheim lifted their price objective on BrightSpring Health Services from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. The Goldman Sachs Group reduced their target price on BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, UBS Group increased their price objective on BrightSpring Health Services from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

Insider Buying and Selling

In other BrightSpring Health Services news, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of the stock in a transaction dated Wednesday, September 11th. The stock was 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 in the company, valued at $1,034,644,621.92. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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.