BrightSprings Health Services Takes Care of Mom and Dad

Summary

• BrightSpring Health Services (BTSG) shows strong technical buy signals, with a 13.69% gain since the Trend Seeker buy signal on 1/21.

• BTSG has a 124.91% gain in the last year, above its 20, 50, and 100-day moving averages, with a Relative Strength Index of 77.31%.

• Fundamental factors include a market cap of $3.96 billion, a P/E of 87.85, and expected revenue growth of 27.16% this year.

• Wall Street analysts rate BTSG with 9 strong buys, 2 buys, and 1 hold, with price targets between $20 and $30, consensus at $24.05.

The Chart of the Day belongs to the healthcare services company BrightSprings Health Services (BTSG) . I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 1/21 the stock gained 13.69%.

BTSG Price vs Daily Moving Averages:

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. It serves patients through clinical providers and pharmacists. The company was formerly known as Phoenix Parent Holdings Inc. and changed its name to BrightSpring Health Services, Inc. in May 2021. BrightSpring Health Services, Inc. was founded in 1974 and is headquartered in Louisville, Kentucky.

Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.

Barchart Technical Indicators:

• 100% technical buy signals
• 138.771+ Weighted Alpha
• 124.91% gain in the last year
• Trend Seeker hold signal
• Above its 20, 50 and 100 day moving averages
• 15 new highs and up 39.54% in the last month
• Relative Strength Index 77.31%
• Technical support level at $22.15
• Recently traded at $23.75 with 50 day moving average of $18.72

Fundamental Factors:

• Market Cap 3.96 billion
• P/E 87.85
• Revenue expected to grow 27.16% this year and another 6.61% next year
• Earnings estimated to increase 468.98% this year and an additional 6.89% next year

Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:

• Wall Street analysts issued 9 strong buy, 2 buy, 1 hold opinion on the stock
• Their price targets are between $20 and $30 with a consensus of $24.05
• CFRAs MarketScope rates the stock a buy
• MorningStar thinks the stock is 10% over valued
• Only 593 investors monitor the stock on Seeking Alpha

Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.

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