10 Hot New Stocks to Buy Now

5. BrightSpring Health Services, Inc. (NASDAQ:BTSG)

6-Months Performance: 85.49%

Analyst Upside Potential: 12.28%

Number of Hedge Fund Holders: 29

BrightSpring Health Services, Inc. (NASDAQ:BTSG) provides health care services to people in their homes and communities. The company focuses on offering both pharmacy and healthcare provider services for individuals with complex health needs. It operates through two main segments: pharmacy solutions and provider services across all 50 states in the United States.

On January 29, Whit Mayo analyst at Leerink Partners reiterated a Buy rating on the stock while maintaining a price target of $26.5. The analyst noted that BrightSpring Health Services, Inc. (NASDAQ:BTSG) demonstrates strong organic growth, especially in specialty areas like oncology, projecting top-line growth above 20%. Moreover, Mayo suggests that the sale of the community living segment has simplified the business, reduced risk, and sharpened focus on higher-margin, faster-growing segments.

During the fiscal third quarter of 2024, the company’s Pharmacy Solutions segment generated $2.3 billion in revenue, up 35% year-over-year. Management attributed growth to strong prescription volumes as the company processed 10.9 million prescriptions during the quarter, up 15% during the same time. It is one of the hot new stocks to buy now.