BrightSpring Health Services (NASDAQ:BTSG) Announces Earnings Results

BrightSpring Health Services (NASDAQ:BTSG) released its quarterly earnings data on Friday. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.07), Briefing.com reports. The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.72 billion. BrightSpring Health Services’s revenue was up 28.8% on a year-over-year basis. BrightSpring Health Services updated its FY 2024 guidance to EPS.

BrightSpring Health Services Stock Performance

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

Analyst Upgrades and Downgrades

BTSG has been the topic of several research reports. 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. The Goldman Sachs Group decreased their price objective on BrightSpring Health Services from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. BTIG Research boosted their price objective on BrightSpring Health Services from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. UBS Group increased their price objective on shares of BrightSpring Health Services from $16.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday. Finally, KeyCorp initiated coverage on shares of BrightSpring Health Services in a research note on Friday, October 11th. They set a “sector weight” rating on the stock. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, BrightSpring Health Services has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

Insiders Place Their Bets

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

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.