Timothy G. Youngquist 2020 Irrevocable Trust acquired a new stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG – Free Report) during the second quarter, HoldingsChannel reports. The fund acquired 14,340 shares of the company’s stock, valued at approximately $1,000,000.
Other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new stake in BrightSpring Health Services during the second quarter worth $956,000. Deutsche Bank AG bought a new stake in BrightSpring Health Services during the 2nd quarter valued at $12,018,000. Chase Investment Counsel Corp purchased a new position in shares of BrightSpring Health Services in the 2nd quarter valued at $13,714,000. Global Retirement Partners LLC purchased a new position in shares of BrightSpring Health Services in the 2nd quarter valued at $1,988,000. Finally, Bank of New York Mellon Corp bought a new position in shares of BrightSpring Health Services in the 2nd quarter worth $118,162,000.
BrightSpring Health Services Stock Down 1.5%
BrightSpring Health Services stock opened at $59.50 on Wednesday. BrightSpring Health Services, Inc. has a 1-year low of $22.86 and a 1-year high of $73.75. The stock has a market capitalization of $11.77 billion, a price-to-earnings ratio of 35.84, a PEG ratio of 0.75 and a beta of 1.88. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.59 and a quick ratio of 1.22. The business has a fifty day moving average price of $66.63 and a 200-day moving average price of $53.77.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the company. TD Cowen upped their price objective on BrightSpring Health Services from $65.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $70.00 target price on shares of BrightSpring Health Services in a report on Monday, August 3rd. The Goldman Sachs Group began coverage on shares of BrightSpring Health Services in a research report on Monday, June 8th. They set a “buy” rating and a $71.00 price target for the company. BMO Capital Markets set a $70.00 price target on shares of BrightSpring Health Services in a report on Thursday, May 21st. Finally, Bank of America lifted their price objective on shares of BrightSpring Health Services from $66.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Two research analysts have rated the stock with a Strong Buy rating and eighteen have issued a Buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $70.71.
Read Our Latest Stock Report on BTSG
Insider Buying and Selling
In related news, insider Jon B. Rousseau sold 130,000 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $7,637,500.00. Following the transaction, the insider directly owned 1,194,503 shares of the company’s stock, valued at $70,177,051.25. This represents a 9.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lisa A. Nalley sold 35,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $2,056,250.00. Following the completion of the transaction, the insider owned 131,948 shares of the company’s stock, valued at $7,751,945. This trade represents a 20.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.80% of the company’s stock.
BrightSpring Health Services Profile
BrightSpring Health Services (NASDAQ: BTSG) is a leading provider of home and community-based care and workforce solutions aimed at seniors, individuals with disabilities and those facing behavioral health challenges. The company’s operations encompass a broad spectrum of services, including personal care, skilled nursing, therapy, habilitation and supported living, as well as specialized behavioral health programs delivered through both clinical and non-clinical channels.
Through its network of subsidiary brands, BrightSpring offers integrated care in the patient’s home environment, fostering independence and improving quality of life.
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