Advisors Preferred LLC Invests $3.42 Million in BrightSpring Health Services, Inc. $BTSG

Advisors Preferred LLC bought a new stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) during the 1st quarter, HoldingsChannel reports. The firm bought 80,254 shares of the company’s stock, valued at approximately $3,420,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. NBC Securities Inc. acquired a new stake in BrightSpring Health Services in the fourth quarter valued at approximately $29,000. Salomon & Ludwin LLC acquired a new position in shares of BrightSpring Health Services during the fourth quarter worth $30,000. GHP Investment Advisors Inc. acquired a new position in shares of BrightSpring Health Services during the first quarter worth $31,000. EverSource Wealth Advisors LLC purchased a new position in shares of BrightSpring Health Services in the second quarter valued at $43,000. Finally, Farther Finance Advisors LLC lifted its holdings in BrightSpring Health Services by 112.8% in the 4th quarter. Farther Finance Advisors LLC now owns 1,717 shares of the company’s stock worth $64,000 after buying an additional 910 shares in the last quarter.

BrightSpring Health Services Stock Up 0.0%

BrightSpring Health Services stock opened at $69.67 on Wednesday. The company has a 50-day simple moving average of $62.83 and a 200-day simple moving average of $49.06. The firm has a market capitalization of $13.75 billion, a P/E ratio of 49.41, a P/E/G ratio of 0.94 and a beta of 1.79. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.38 and a current ratio of 1.74. BrightSpring Health Services, Inc. has a one year low of $19.01 and a one year high of $72.22.

BrightSpring Health Services (NASDAQ:BTSG) last released its quarterly earnings data on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.39 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 EPS. As a group, equities analysts expect that BrightSpring Health Services, Inc. will post 1.68 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. KeyCorp raised their target price on BrightSpring Health Services from $60.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $60.00 target price on shares of BrightSpring Health Services in a research note on Monday, May 4th. Leerink Partners reissued an “outperform” rating and set a $49.00 target price on shares of BrightSpring Health Services in a report on Wednesday, March 18th. Morgan Stanley raised their price target on shares of BrightSpring Health Services from $71.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Stephens lifted their price target on shares of BrightSpring Health Services from $53.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $70.12.

Insider Activity at BrightSpring Health Services

In other BrightSpring Health Services news, insider Lisa A. Nalley sold 35,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider owned 131,948 shares in the company, valued at approximately $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction that occurred 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 sale, the insider directly owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. This trade represents a 9.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is currently owned by company insiders.

BrightSpring Health Services Company 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.