BrightSpring Health Services (NASDAQ:BTSG) Shares Down 4.7% – Time to Sell?

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. 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 note on Thursday, October 3rd. Wells Fargo & Company upped their price target on shares of BrightSpring Health Services from $17.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. KeyCorp initiated coverage on BrightSpring Health Services in a research note on Friday, October 11th. They set a “sector weight” rating for the company. CJS Securities initiated coverage on BrightSpring Health Services in a research note on Thursday, December 12th. They issued an “outperform” rating and a $27.00 target price on the stock. Finally, Morgan Stanley boosted their price target on shares of BrightSpring Health Services from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. One research 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, BrightSpring Health Services has an average rating of “Moderate Buy” and a consensus price target of $18.65.

BrightSpring Health Services Price Performance

The company has a quick ratio of 0.97, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. The business’s 50-day simple moving average is $18.43 and its 200-day simple moving average is $15.68. The stock has a market cap of $3.96 billion and a PE ratio of -87.42.

BrightSpring Health Services (NASDAQ:BTSG) last posted its earnings results on Friday, November 1st. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.07). BrightSpring Health Services had a positive return on equity of 4.16% and a negative net margin of 0.38%. The company had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.72 billion. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. On average, research analysts expect that BrightSpring Health Services, Inc. will post 0.59 EPS for the current fiscal year.

Institutional Investors Weigh In On BrightSpring Health Services

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC increased its position in BrightSpring Health Services by 17.2% during the 3rd quarter. FMR LLC now owns 18,169,187 shares of the company’s stock valued at $266,724,000 after buying an additional 2,664,582 shares in the last quarter. Lisanti Capital Growth LLC purchased a new stake in BrightSpring Health Services during the 3rd quarter valued at about $4,659,000. Walleye Capital LLC increased its stake in BrightSpring Health Services by 388.0% during the 3rd quarter. Walleye Capital LLC now owns 167,112 shares of the company’s stock valued at $2,453,000 after purchasing an additional 132,869 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of BrightSpring Health Services in the third quarter worth approximately $1,822,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of BrightSpring Health Services by 275.2% during the third quarter. JPMorgan Chase & Co. now owns 163,618 shares of the company’s stock valued at $2,402,000 after buying an additional 120,005 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.