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

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

BrightSpring Health Services Trading Up 15.2 %

Shares of NASDAQ:BTSG traded up $2.28 during trading on Friday, hitting $17.25. The company had a trading volume of 5,067,777 shares, compared to its average volume of 1,495,055. BrightSpring Health Services has a one year low of $7.85 and a one year high of $17.54. The company has a fifty day simple moving average of $14.58 and a two-hundred day simple moving average of $12.44. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.33 and a quick ratio of 1.00.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. BTIG Research upped their target price on BrightSpring Health Services from $15.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. UBS Group lifted their price target on shares of BrightSpring Health Services from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday. The Goldman Sachs Group cut their price objective on shares of BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, August 9th. KeyCorp initiated coverage on shares of BrightSpring Health Services in a report on Friday, October 11th. They set a “sector weight” rating for the company. Finally, Guggenheim raised their price objective on BrightSpring Health Services from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.50.

Insiders Place Their Bets

In related news, major shareholder Kkr Group Partnership L.P. bought 11,619,998 shares of the stock in a transaction on Wednesday, September 11th. The stock was bought at an average price of $11.13 per share, for a total transaction of $129,330,577.74. Following the completion of the acquisition, the insider now directly owns 92,959,984 shares in the company, valued at approximately $1,034,644,621.92. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through 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.