FY2024 Earnings Forecast for BTSG Issued By Leerink Partnrs

BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) - Analysts at Leerink Partnrs raised their FY2024 earnings per share (EPS) estimates for shares of BrightSpring Health Services in a note issued to investors on Monday, November 4th. Leerink Partnrs analyst W. Mayo now expects that the company will post earnings of $0.76 per share for the year, up from their prior estimate of $0.72. The consensus estimate for BrightSpring Health Services' current full-year earnings is $0.55 per share. Leerink Partnrs also issued estimates for BrightSpring Health Services' Q4 2024 earnings at $0.21 EPS.

A number of other research firms have also recently commented on BTSG. The Goldman Sachs Group reduced their price objective 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 increased their price objective 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, October 30th. KeyCorp began coverage on shares of BrightSpring Health Services in a research report on Friday, October 11th. They issued a "sector weight" rating on the stock. Guggenheim upped their price objective on BrightSpring Health Services from $15.00 to $18.00 and gave the stock a "buy" rating in a research note on Tuesday, October 1st. Finally, Mizuho lifted their target price on BrightSpring Health Services from $17.00 to $20.00 and gave the company an "outperform" rating in a research report on Monday. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.79.

BrightSpring Health Services Stock Performance

Shares of NASDAQ BTSG traded up $0.72 during midday trading on Wednesday, hitting $18.35. 1,225,721 shares of the stock traded hands, compared to its average volume of 1,497,273. The firm has a market capitalization of $3.15 billion and a P/E ratio of -67.81. BrightSpring Health Services has a one year low of $7.85 and a one year high of $18.40. 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 firm has a 50-day moving average of $14.76 and a two-hundred day moving average of $12.57.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last announced its quarterly earnings results on Friday, November 1st. The company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.72 billion. BrightSpring Health Services had a positive return on equity of 4.47% and a negative net margin of 0.38%. The company's revenue was up 28.8% compared to the same quarter last year.

Hedge Funds Weigh In On BrightSpring Health Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BTSG. Kohlberg Kravis Roberts & Co. L.P. bought a new position in BrightSpring Health Services during the first quarter valued at $884,166,000. 8 Knots Management LLC bought a new position in shares of BrightSpring Health Services in the 1st quarter valued at about $67,678,000. Vanguard Group Inc. purchased a new position in BrightSpring Health Services in the first quarter worth about $54,638,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in BrightSpring Health Services during the first quarter worth approximately $35,328,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in BrightSpring Health Services during the first quarter valued at approximately $16,260,000.

Insiders Place Their Bets

In related news, major shareholder Kkr Group Partnership L.P. bought 11,619,998 shares of the business's stock in a transaction that occurred on Wednesday, September 11th. The stock was bought at an average cost of $11.13 per share, with a total value of $129,330,577.74. Following the completion of the purchase, the insider now owns 92,959,984 shares of the company's stock, valued at approximately $1,034,644,621.92. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

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.