Bank of America Forecasts Strong Price Appreciation for BrightSpring Health Services (NASDAQ:BTSG) Stock

BrightSpring Health Services (NASDAQ:BTSG) had its target price increased by stock analysts at Bank of America from $19.00 to $21.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s target price would indicate a potential upside of 15.32% from the company’s current price.

A number of other brokerages also recently issued reports on BTSG. BTIG Research raised their price objective 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. Wells Fargo & Company increased their price objective on shares of BrightSpring Health Services from $17.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. UBS Group upped 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, October 30th. Guggenheim lifted their price objective on BrightSpring Health Services from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Finally, KeyCorp assumed coverage on BrightSpring Health Services in a research note on Friday, October 11th. They issued a “sector weight” rating on the stock. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $17.79.

BrightSpring Health Services Price Performance

Shares of BTSG stock traded down $0.05 during trading hours on Wednesday, reaching $18.21. The company’s stock had a trading volume of 244,651 shares, compared to its average volume of 1,446,615. 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 has a fifty-two week low of $7.85 and a fifty-two week high of $20.25. The company has a market capitalization of $3.17 billion and a price-to-earnings ratio of -70.04. The firm’s 50 day simple moving average is $17.28 and its 200-day simple moving average is $13.94.

BrightSpring Health Services (NASDAQ:BTSG) 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 firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate 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 company’s revenue for the quarter was up 28.8% on a year-over-year basis. Sell-side analysts forecast that BrightSpring Health Services will post 0.59 earnings per share for the current year.

Institutional Investors Weigh In On BrightSpring Health Services

Hedge funds and other institutional investors have recently modified their holdings of the stock. nVerses Capital LLC purchased a new position in shares of BrightSpring Health Services in the second quarter worth $55,000. California State Teachers Retirement System purchased a new position in BrightSpring Health Services during the 1st quarter valued at about $59,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in BrightSpring Health Services in the 2nd quarter worth approximately $126,000. Intech Investment Management LLC bought a new stake in shares of BrightSpring Health Services in the 3rd quarter worth approximately $159,000. Finally, Arizona State Retirement System purchased a new stake in BrightSpring Health Services in the second quarter worth $163,000.

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.