Morgan Stanley Increases BrightSpring Health Services (NASDAQ:BTSG) Price Target to $20.00

BrightSpring Health Services (NASDAQ:BTSG) had its price target lifted by stock analysts at Morgan Stanley from $19.00 to $20.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 6.95% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Guggenheim increased their price objective on shares of BrightSpring Health Services from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. 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 report on Thursday, October 3rd. KeyCorp started coverage on shares of BrightSpring Health Services in a research note on Friday, October 11th. They issued a “sector weight” rating on the stock. Mizuho boosted their price objective on shares of BrightSpring Health Services from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, CJS Securities initiated coverage on shares of BrightSpring Health Services in a research report on Thursday, December 12th. They set an “outperform” rating and a $27.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, BrightSpring Health Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.65.

BrightSpring Health Services Price Performance

Shares of NASDAQ:BTSG traded down $0.18 on Tuesday, reaching $18.70. The company’s stock had a trading volume of 235,154 shares, compared to its average volume of 1,478,421. The company has a 50-day simple moving average of $17.57 and a 200 day simple moving average of $14.14. 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 company has a market cap of $3.26 billion and a P/E ratio of -71.92. BrightSpring Health Services has a 52-week low of $7.85 and a 52-week high of $20.25.

BrightSpring Health Services (NASDAQ:BTSG) last issued 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 company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.72 billion. BrightSpring Health Services had a positive return on equity of 4.16% and a negative net margin of 0.38%. BrightSpring Health Services’s quarterly revenue was up 28.8% compared to the same quarter last year. As a group, equities research analysts anticipate that BrightSpring Health Services will post 0.59 EPS for the current fiscal year.

Hedge Funds Weigh In On BrightSpring Health Services

A number of large investors have recently added to or reduced their stakes in BTSG. Virtu Financial LLC bought a new position in shares of BrightSpring Health Services during the 3rd quarter worth approximately $522,000. Geode Capital Management LLC lifted its holdings in shares of BrightSpring Health Services by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,304,214 shares of the company’s stock valued at $19,150,000 after purchasing an additional 7,750 shares during the last quarter. Barclays PLC boosted its position in shares of BrightSpring Health Services by 22.2% in the 3rd quarter. Barclays PLC now owns 393,725 shares of the company’s stock worth $5,780,000 after purchasing an additional 71,633 shares in the last quarter. State Street Corp increased its position in BrightSpring Health Services by 7.4% during the 3rd quarter. State Street Corp now owns 1,239,628 shares of the company’s stock valued at $18,198,000 after buying an additional 85,464 shares in the last quarter. Finally, Verition Fund Management LLC boosted its holdings in BrightSpring Health Services by 34.2% in the third quarter. Verition Fund Management LLC now owns 132,918 shares of the company’s stock worth $1,951,000 after acquiring an additional 33,890 shares in the last quarter.

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.