Hennessy Advisors Inc. trimmed its position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG – Free Report) by 60.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 194,800 shares of the company’s stock after selling 293,500 shares during the period. Hennessy Advisors Inc. owned 0.10% of BrightSpring Health Services worth $13,585,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company purchased a new position in shares of BrightSpring Health Services during the 2nd quarter valued at $239,377,000. Vanguard Group Inc. raised its stake in BrightSpring Health Services by 30.5% in the 4th quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company’s stock valued at $469,385,000 after acquiring an additional 2,928,953 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in BrightSpring Health Services by 936.4% during the second quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company’s stock valued at $53,705,000 after purchasing an additional 2,056,920 shares during the last quarter. State Street Corp grew its stake in BrightSpring Health Services by 99.5% in the 4th quarter. State Street Corp now owns 4,033,149 shares of the company’s stock valued at $151,041,000 after buying an additional 2,011,095 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in BrightSpring Health Services by 855.4% during the 2nd quarter. Jane Street Group LLC now owns 2,076,730 shares of the company’s stock valued at $48,990,000 after acquiring an additional 1,859,369 shares during the period.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on BTSG. BMO Capital Markets set a $70.00 price target on BrightSpring Health Services in a research report on Thursday, May 21st. TD Cowen lifted their target price on BrightSpring Health Services from $65.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Guggenheim started coverage on shares of BrightSpring Health Services in a research note on Monday, July 13th. They set a “buy” rating and a $81.00 price objective for the company. Zacks Research raised shares of BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Finally, Bank of America upped their price target on shares of BrightSpring Health Services from $66.00 to $77.00 and gave the stock a “buy” rating in a 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $70.71.
Insider Buying and Selling at BrightSpring Health Services
In related news, insider Jon B. Rousseau sold 130,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $7,637,500.00. Following the completion of the transaction, the insider directly owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. The trade was a 9.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lisa A. Nalley sold 35,000 shares of the stock in a transaction on Friday, June 5th. The shares were 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 directly owned 131,948 shares in the company, valued at approximately $7,751,945. This represents a 20.96% decrease in their position. The SEC filing for this sale provides additional information. 2.80% of the stock is currently owned by insiders.
BrightSpring Health Services Trading Down 2.9%
Shares of BTSG opened at $59.13 on Friday. BrightSpring Health Services, Inc. has a 1-year low of $22.86 and a 1-year high of $73.75. The company has a market capitalization of $11.70 billion, a P/E ratio of 35.62, a P/E/G ratio of 0.71 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 firm’s 50 day simple moving average is $65.91 and its 200 day simple moving average is $54.81.
BrightSpring Health Services (NASDAQ:BTSG – Get Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. The business had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.66 billion. BrightSpring Health Services had a net margin of 2.55% and a return on equity of 16.73%. The business’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.22 EPS. Sell-side analysts forecast that BrightSpring Health Services, Inc. will post 1.82 earnings per share for the current fiscal year.
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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