BrightSpring Health Services, Inc.’s Lock-Up Period Will Expire Tomorrow (NASDAQ:BTSG)

BrightSpring Health Services’ (NASDAQ:BTSG) lock-up period is set to expire on Wednesday, July 24th. BrightSpring Health Services had issued 53,333,334 shares in its initial public offering on January 26th. The total size of the offering was $693,333,342 based on an initial share price of $13.00. After the expiration of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Analyst Ratings Changes

Several analysts have commented on the company. Wells Fargo & Company upped their price objective on BrightSpring Health Services from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. BTIG Research assumed coverage on BrightSpring Health Services in a report on Friday, June 21st. They set a “buy” rating and a $15.00 price target for the company. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, BrightSpring Health Services presently has an average rating of “Buy” and a consensus price target of $15.77.

BrightSpring Health Services Price Performance

BrightSpring Health Services stock opened at $11.96 on Tuesday. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.26 and a quick ratio of 0.96. BrightSpring Health Services has a one year low of $7.85 and a one year high of $12.21. The firm has a fifty day simple moving average of $11.17.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. The company had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the prior year, the firm posted ($0.10) EPS. The firm’s quarterly revenue was up 27.0% on a year-over-year basis. On average, analysts expect that BrightSpring Health Services will post 0.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BrightSpring Health Services

A number of institutional investors and hedge funds have recently modified their holdings of BTSG. Ameritas Investment Partners Inc. purchased a new stake in BrightSpring Health Services during the first quarter worth $58,000. California State Teachers Retirement System purchased a new stake in shares of BrightSpring Health Services in the 1st quarter worth about $59,000. Sandia Investment Management LP purchased a new stake in shares of BrightSpring Health Services in the 1st quarter worth about $217,000. Farallon Capital Management LLC purchased a new position in BrightSpring Health Services during the 1st quarter valued at about $239,000. Finally, Miracle Mile Advisors LLC purchased a new position in BrightSpring Health Services during the 2nd quarter valued at about $267,000.

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.