BrightSpring Health Services (NASDAQ:BTSG) Hits New 52-Week High - Time to Buy?

BrightSpring Health Services, Inc. (NASDAQ:BTSG - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $20.91 and last traded at $20.09, with a volume of 362728 shares traded. The stock had previously closed at $18.55.

Analysts Set New Price Targets

Several equities research analysts recently commented on BTSG shares. BTIG Research raised 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. CJS Securities started coverage on shares of BrightSpring Health Services in a research note on Thursday, December 12th. They set an "outperform" rating and a $27.00 price objective on the stock. Guggenheim upped their target price on shares of BrightSpring Health Services from $15.00 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, October 1st. Wells Fargo & Company lifted their price target on shares of BrightSpring Health Services from $17.00 to $21.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 27th. Finally, Bank of America upped their price objective on shares of BrightSpring Health Services from $19.00 to $21.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $18.65.

BrightSpring Health Services Price Performance

The stock has a market capitalization of $3.64 billion and a P/E ratio of -80.35. The company has a 50 day moving average of $18.19 and a 200-day moving average of $15.36. The company has a quick ratio of 0.97, a current ratio of 1.35 and a debt-to-equity ratio of 1.63.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last posted its quarterly earnings results on Friday, November 1st. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.07). The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.72 billion. BrightSpring Health Services had a negative net margin of 0.38% and a positive return on equity of 4.16%. The firm's revenue was up 28.8% on a year-over-year basis. Sell-side analysts predict that BrightSpring Health Services, Inc. will post 0.59 EPS for the current year.

Institutional Trading of BrightSpring Health Services

Several hedge funds have recently made changes to their positions in BTSG. BNP Paribas Financial Markets increased its position in BrightSpring Health Services by 5.0% in the third quarter. BNP Paribas Financial Markets now owns 21,329 shares of the company's stock worth $313,000 after buying an additional 1,011 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of BrightSpring Health Services by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 440,335 shares of the company's stock worth $6,464,000 after acquiring an additional 6,326 shares during the period. Geode Capital Management LLC lifted its position in BrightSpring Health Services by 0.6% in 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. nVerses Capital LLC boosted its stake in BrightSpring Health Services by 195.8% during the 3rd quarter. nVerses Capital LLC now owns 14,200 shares of the company's stock valued at $208,000 after purchasing an additional 9,400 shares during the period. Finally, Intech Investment Management LLC bought a new position in BrightSpring Health Services in the 3rd quarter worth about $159,000.

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.