Analyst Joanna Gajuk from Bank of America Securities reiterated a Buy rating on BrightSpring Health Services, Inc. (BTSG – Research Report) and keeping the price target at $26.75.
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Joanna Gajuk’s rating is based on BrightSpring Health Services, Inc.’s strong growth prospects in several key areas. The company is expected to benefit from new drug launches and generic launches, particularly in its Specialty Pharmacy segment, which is anticipated to grow robustly due to cancer prevalence and market share gains. Additionally, the company has made strategic investments in its infusion services, positioning it for significant growth in both acute and chronic therapies.
Furthermore, BrightSpring’s competitive advantage in generic drug distribution, driven by its effective sales force, enhances its market position. The Provider segment is also experiencing double-digit growth, supported by acquisitions in home health, hospice, rehab, and infusion services. The company’s strategic focus on expanding its pharmacy footprint and leveraging its purchasing scale in the home/community pharmacy business further supports the Buy rating. Overall, these factors contribute to a positive outlook for BrightSpring, justifying the Buy recommendation.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BTSG in relation to earlier this year.