BrightSpring Health Services (NASDAQ:BTSG) Posts Earnings Results, Misses Expectations By $0.07 EPS

BrightSpring Health Services (NASDAQ:BTSG) posted its quarterly earnings results on Friday. The company reported $0.11 EPS 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 the consensus estimate 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 Trading Up 15.2 %

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

Wall Street Analysts Forecast Growth

BTSG has been the subject of a number of recent analyst reports. Guggenheim raised their price target on shares of BrightSpring Health Services from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. UBS Group lifted their price objective on shares of BrightSpring Health Services from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday. BTIG Research upped their price target on shares of BrightSpring Health Services from $15.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. 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 note on Friday, August 9th. Finally, KeyCorp began coverage on shares of BrightSpring Health Services in a report 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. According to MarketBeat, BrightSpring Health Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

Insider Transactions at BrightSpring Health Services

In other news, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of the stock in a transaction dated Wednesday, September 11th. The shares were bought at an average cost of $11.13 per share, for a total transaction of $129,330,577.74. Following 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 trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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.