BrightSpring Health Services (NASDAQ:BTSG) Shares Gap Up on Strong Earnings

BrightSpring Health Services, Inc. (NASDAQ:BTSG)’s share price gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $17.90, but opened at $20.36. BrightSpring Health Services shares last traded at $19.82, with a volume of 696,576 shares traded.

The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.10. BrightSpring Health Services had a negative net margin of 0.38% and a positive return on equity of 4.16%. The business’s quarterly revenue was up 25.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.12 earnings per share.

Analysts Set New Price Targets

Separately, UBS Group increased their target price on shares of BrightSpring Health Services from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.67.

Hedge Funds Weigh In On BrightSpring Health Services

Institutional investors have recently modified their holdings of the company. Quarry LP purchased a new stake in shares of BrightSpring Health Services in the fourth quarter valued at about $29,000. R Squared Ltd purchased a new position in BrightSpring Health Services in the 4th quarter valued at approximately $74,000. Highland Capital Management LLC purchased a new position in BrightSpring Health Services during the 1st quarter valued at about $181,000. Envestnet Asset Management Inc. bought a new position in BrightSpring Health Services in the 4th quarter valued at $188,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of BrightSpring Health Services in the 4th quarter valued at about $206,000.

BrightSpring Health Services Stock Performance

The stock has a market cap of $3.65 billion, a PE ratio of -80.27 and a beta of 2.02. 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 company’s 50-day moving average price is $17.62 and its two-hundred day moving average price is $18.48.

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.