BrightSpring Health Services (NASDAQ:BTSG) Announces Earnings Results

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) posted its quarterly earnings data 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 firm had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.72 billion. BrightSpring Health Services's revenue for the quarter was up 28.8% compared to the same quarter last year. BrightSpring Health Services updated its FY 2024 guidance to EPS.

BrightSpring Health Services Stock Performance

Shares of BrightSpring Health Services stock traded up $2.28 during trading on Friday, hitting $17.25. 5,067,777 shares of the stock traded hands, compared to its average volume of 1,495,055. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.00 and a current ratio of 1.33. The stock's fifty day simple moving average is $14.58 and its 200 day simple moving average is $12.44. BrightSpring Health Services has a 52-week low of $7.85 and a 52-week high of $17.54.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. The Goldman Sachs Group lowered their price target on BrightSpring Health Services from $21.00 to $18.00 and set a "buy" rating for the company in a research report on Friday, August 9th. UBS Group lifted their price target on shares of BrightSpring Health Services from $16.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday. BTIG Research increased their price objective on shares of BrightSpring Health Services from $15.00 to $20.00 and gave the stock a "buy" rating in a research 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 for the company. Finally, Guggenheim upped their target price on BrightSpring Health Services from $15.00 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $16.50.

Insider Buying and Selling

In other BrightSpring Health Services news, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of BrightSpring Health Services stock in a transaction that occurred on Wednesday, September 11th. The stock was bought at an average price of $11.13 per share, with a total value of $129,330,577.74. Following the completion of the purchase, the insider now directly owns 92,959,984 shares of the company's stock, valued at approximately $1,034,644,621.92. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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.