Morgan Stanley Issues Positive Forecast for BrightSpring Health Services (NASDAQ:BTSG) Stock Price

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) had its price target raised by analysts at Morgan Stanley from $19.00 to $20.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Morgan Stanley's price objective would indicate a potential upside of 8.34% from the stock's current price.

BTSG has been the subject of a number of other research reports. Mizuho upped their target price on BrightSpring Health Services from $17.00 to $20.00 and gave the stock an "outperform" rating in a report on Monday, November 4th. KeyCorp started coverage on shares of BrightSpring Health Services in a research note on Friday, October 11th. They set a "sector weight" rating for the company. Guggenheim boosted 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 note on Tuesday, October 1st. BTIG Research raised their target price on BrightSpring Health Services from $15.00 to $20.00 and gave the stock a "buy" rating in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company upped their price target on BrightSpring Health Services from $17.00 to $21.00 and gave the company an "overweight" rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $18.65.

BrightSpring Health Services Stock Down 2.2 %

Shares of NASDAQ BTSG traded down $0.42 during midday trading on Tuesday, reaching $18.46. The company's stock had a trading volume of 1,463,506 shares, compared to its average volume of 1,483,813. BrightSpring Health Services has a fifty-two week low of $7.85 and a fifty-two week high of $20.25. The stock has a 50 day simple moving average of $17.57 and a 200-day simple moving average of $14.14. The stock has a market capitalization of $3.21 billion and a price-to-earnings ratio of -71.00. The company has a current ratio of 1.35, a quick ratio of 0.97 and a debt-to-equity ratio of 1.63.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last issued 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 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 revenue was up 28.8% on a year-over-year basis. Equities research analysts predict that BrightSpring Health Services will post 0.59 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Virtu Financial LLC bought a new position in shares of BrightSpring Health Services during the 3rd quarter valued at approximately $522,000. Geode Capital Management LLC raised its position in shares of BrightSpring Health Services by 0.6% in the third 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 period. Barclays PLC raised its stake in shares of BrightSpring Health Services by 22.2% during the 3rd quarter. Barclays PLC now owns 393,725 shares of the company's stock valued at $5,780,000 after purchasing an additional 71,633 shares during the period. State Street Corp boosted its position in shares of BrightSpring Health Services by 7.4% in the third quarter. State Street Corp now owns 1,239,628 shares of the company's stock valued at $18,198,000 after acquiring an additional 85,464 shares during the period. Finally, Verition Fund Management LLC raised its position in shares of 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 buying 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.