Bank of America Boosts BrightSpring Health Services (NASDAQ:BTSG) Price Target to $21.00

BrightSpring Health Services (NASDAQ:BTSG) had its target price increased by equities research analysts at Bank of America from $19.00 to $21.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective suggests a potential upside of 15.32% from the stock’s current price.

BTSG has been the topic of several other reports. KeyCorp initiated coverage on BrightSpring Health Services in a research note on Friday, October 11th. They set a “sector weight” rating on the stock. 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 report on Wednesday, October 30th. BTIG Research upped their target price on shares of BrightSpring Health Services from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Wells Fargo & Company raised their price target on shares of BrightSpring Health Services from $17.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Finally, Guggenheim boosted 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. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.79.

BrightSpring Health Services Stock Down 0.3 %

NASDAQ BTSG traded down $0.05 during trading hours on Wednesday, reaching $18.21. 244,651 shares of the company’s stock traded hands, compared to its average volume of 1,446,615. The firm has a market cap of $3.17 billion and a PE ratio of -70.04. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 0.97. BrightSpring Health Services has a 52-week low of $7.85 and a 52-week high of $20.25. The firm has a 50-day simple moving average of $17.28 and a 200 day simple moving average of $13.94.

BrightSpring Health Services (NASDAQ:BTSG) 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). BrightSpring Health Services had a positive return on equity of 4.16% and a negative net margin of 0.38%. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.72 billion. The firm’s revenue was up 28.8% compared to the same quarter last year. Sell-side analysts anticipate that BrightSpring Health Services will post 0.59 EPS for the current fiscal year.

Institutional Investors Weigh In On BrightSpring Health Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. L & S Advisors Inc bought a new position in shares of BrightSpring Health Services during the third quarter valued at approximately $1,247,000. TD Asset Management Inc purchased a new position in shares of BrightSpring Health Services in the second quarter worth $2,308,000. Magnetar Financial LLC lifted 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 acquiring an additional 379,149 shares during the period. Assenagon Asset Management S.A. purchased a new stake in BrightSpring Health Services in the third quarter valued at approximately $1,822,000. Finally, LMR Partners LLP acquired a new stake in shares of BrightSpring Health Services in the third quarter worth $493,000.

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.