BrightSpring Health Services (NASDAQ:BTSG) Shares Down 4.7% – Here’s Why

BrightSpring Health Services, Inc. (NASDAQ:BTSG)’s share price was down 4.7% during trading on Tuesday . The stock traded as low as $23.03 and last traded at $22.61. Approximately 243,739 shares traded hands during trading, a decline of 85% from the average daily volume of 1,601,323 shares. The stock had previously closed at $23.72.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Mizuho boosted their price target on BrightSpring Health Services from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. KeyCorp began coverage on BrightSpring Health Services in a report on Friday, October 11th. They issued a “sector weight” rating for the company. CJS Securities initiated coverage on BrightSpring Health Services in a report on Thursday, December 12th. They set an “outperform” rating and a $27.00 price target on the stock. Wells Fargo & Company boosted 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 note on Wednesday, November 27th. Finally, Morgan Stanley lifted their target price on shares of BrightSpring Health Services from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.42.

BrightSpring Health Services Stock Performance

The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.97 and a current ratio of 1.35. The firm has a 50 day moving average price of $18.61 and a two-hundred day moving average price of $15.82. The company has a market capitalization of $4.22 billion and a P/E ratio of -93.23.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings results on Friday, November 1st. The company reported $0.11 earnings per share 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 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% compared to the same quarter last year. On average, research analysts expect that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BrightSpring Health Services

Institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its stake in BrightSpring Health Services by 5.0% during 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 last quarter. Rhumbline Advisers increased its stake in shares of BrightSpring Health Services by 1.5% in the fourth quarter. Rhumbline Advisers now owns 73,583 shares of the company’s stock valued at $1,253,000 after buying an additional 1,118 shares in the last quarter. R Squared Ltd bought a new position in shares of BrightSpring Health Services in the fourth quarter valued at about $74,000. Charles Schwab Investment Management Inc. lifted its position in BrightSpring Health Services by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 440,335 shares of the company’s stock worth $6,464,000 after buying an additional 6,326 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of BrightSpring Health Services by 0.6% during 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 last quarter.

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.