BrightSpring Health Services (NASDAQ:BTSG) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

BrightSpring Health Services (NASDAQ:BTSG) announced its quarterly earnings results on Thursday. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06, Briefing.com reports. The firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the business earned ($0.10) EPS. The firm’s quarterly revenue was up 27.0% on a year-over-year basis.

BrightSpring Health Services Stock Up 4.0 %

Shares of BrightSpring Health Services stock traded up $0.44 during trading hours on Friday, reaching $11.50. 1,534,327 shares of the company were exchanged, compared to its average volume of 2,100,711. The firm has a fifty day moving average of $9.95. BrightSpring Health Services has a 1 year low of $7.85 and a 1 year high of $12.14. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 5.73.

Analyst Ratings Changes

Several research firms have issued reports on BTSG. Leerink Partnrs reissued an “outperform” rating on shares of BrightSpring Health Services in a research note on Tuesday, February 20th. Jefferies Financial Group initiated coverage on shares of BrightSpring Health Services in a research note on Tuesday, February 20th. They set a “buy” rating and a $18.00 target price for the company. UBS Group began coverage on shares of BrightSpring Health Services in a research note on Tuesday, February 20th. They issued a “buy” rating and a $15.00 price target on the stock. Morgan Stanley initiated coverage on shares of BrightSpring Health Services in a report on Tuesday, February 20th. They issued an “overweight” rating and a $18.00 price objective on the stock. Finally, Wells Fargo & Company started coverage on shares of BrightSpring Health Services in a report on Tuesday, February 20th. They issued an “overweight” rating and a $15.00 target price for the company. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $15.75.

Insider Activity at BrightSpring Health Services

In related news, insider James F. Mattingly, Jr. purchased 12,280 shares of BrightSpring Health Services stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $8.18 per share, with a total value of $100,450.40. Following the transaction, the insider now directly owns 128,700 shares of the company’s stock, valued at $1,052,766. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other BrightSpring Health Services news, CAO Jennifer A. Phipps purchased 12,300 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $8.14 per share, for a total transaction of $100,122.00. Following the completion of the purchase, the chief accounting officer now directly owns 165,618 shares in the company, valued at $1,348,130.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James F. Mattingly, Jr. purchased 12,280 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were acquired at an average cost of $8.18 per share, with a total value of $100,450.40. Following the completion of the acquisition, the insider now directly owns 128,700 shares in the company, valued at $1,052,766. The disclosure for this purchase can be found here.

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.