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UBS maintained its Buy rating and $31.00 price target on BrightSpring Health (NASDAQ:BTSG) Tuesday, representing a potential 45% upside from current levels. The company’s strong financial health score of 3.08 on InvestingPro supports this outlook. The research firm noted that second-quarter trends have remained consistent with first-quarter growth drivers.
BrightSpring recently experienced the generic launch of Promacta in its Specialty business within the past month. With impressive revenue growth of 30.5% over the last twelve months and an annual revenue of $11.9 billion, the company also saw several limited distribution drug launches, contributing to the specialty business executing well against company objectives.
The healthcare provider has made strategic leadership additions, including key hires for its infusion business. Management indicated the provider business continues to demonstrate consistency in performance.
BrightSpring also recruited two new sales leaders for its home health and hospice division. The company aims to develop this segment into one of the top three home health and hospice businesses over the next few years.
UBS analyst AJ Rice commented that BrightSpring "is working to lay the groundwork for the future" while maintaining consistent performance in its current operations.
In other recent news, BrightSpring Health Services reported its Q1 2025 earnings, highlighting a 26% year-over-year increase in total revenue, reaching $2.9 billion. The company’s earnings per share (EPS) of $0.19 slightly missed the forecasted $0.20, yet the market responded positively to the robust revenue growth. Pharmacy Solutions led the revenue growth with a 28% increase, contributing $2.5 billion. Additionally, BrightSpring announced a secondary offering where certain stockholders, including affiliates of Kohlberg Kravis Roberts & Co., plan to sell 14 million shares. This transaction will not involve the company selling any shares or receiving proceeds. Furthermore, Mizuho (NYSE:MFG) Securities raised its price target for BrightSpring to $26, maintaining an Outperform rating, following the company’s strong performance and updated guidance. The annual meeting of stockholders confirmed the election of two Class I directors and ratified KPMG LLP as the independent auditor. These developments reflect BrightSpring’s strategic positioning and continued investor interest.
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