BrightSpring Health Services (NASDAQ:BTSG) Price Target Raised to $21.00 at Wells Fargo & Company

BrightSpring Health Services (NASDAQ:BTSG) had its target price increased by equities researchers at Wells Fargo & Company from $17.00 to $21.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 8.02% from the company’s previous close.

A number of other brokerages have also recently commented on BTSG. Mizuho upped their price target on shares of BrightSpring Health Services from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. UBS Group raised their price target on BrightSpring Health Services from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. KeyCorp started coverage on BrightSpring Health Services in a research report on Friday, October 11th. They set a “sector weight” rating on the stock. Guggenheim raised their price objective on shares of BrightSpring Health Services from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Finally, BTIG Research upped their target price on shares of BrightSpring Health Services from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, BrightSpring Health Services has an average rating of “Moderate Buy” and an average target price of $17.21.

BrightSpring Health Services Stock Performance

BTSG stock traded up $0.70 during mid-day trading on Wednesday, hitting $19.44. The company had a trading volume of 228,807 shares, compared to its average volume of 1,470,226. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.97 and a current ratio of 1.35. The firm has a market cap of $3.39 billion and a PE ratio of -74.77. BrightSpring Health Services has a 12 month low of $7.85 and a 12 month high of $20.25. The stock’s fifty day moving average price is $16.51 and its two-hundred day moving average price is $13.42.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings data on Friday, November 1st. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.07). The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.72 billion. BrightSpring Health Services had a negative net margin of 0.38% and a positive return on equity of 4.16%. BrightSpring Health Services’s revenue for the quarter was up 28.8% compared to the same quarter last year. On average, analysts forecast that BrightSpring Health Services will post 0.59 earnings per share for the current fiscal year.

Insider Activity

In other BrightSpring Health Services news, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of the stock in a transaction on Wednesday, September 11th. The stock was acquired at an average cost of $11.13 per share, with a total value of $129,330,577.74. Following the completion of the purchase, the insider now directly owns 92,959,984 shares of the company’s stock, valued at approximately $1,034,644,621.92. This trade represents a 14.29 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BTSG. Price T Rowe Associates Inc. MD purchased a new position in BrightSpring Health Services in the 1st quarter worth approximately $16,260,000. L & S Advisors Inc bought a new position in BrightSpring Health Services in the 3rd quarter worth $1,247,000. TD Asset Management Inc bought a new stake in BrightSpring Health Services during the 2nd quarter valued at approximately $2,308,000. Magnetar Financial LLC grew its holdings in shares of 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 acquiring an additional 379,149 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in shares of BrightSpring Health Services in the 3rd quarter worth approximately $1,822,000.

About BrightSpring Health Services

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.