Jupiter Topco LLC Purchases New Position in BrightSpring Health Services, Inc. $BTSG

Jupiter Topco LLC acquired a new position in BrightSpring Health Services, Inc. (NASDAQ:BTSG) during the second quarter, Holdings Channel reports. The institutional investor acquired 267,486 shares of the company’s stock, valued at approximately $18,655,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Allworth Financial LP acquired a new stake in BrightSpring Health Services in the second quarter valued at approximately $28,000. GHP Investment Advisors Inc. acquired a new position in shares of BrightSpring Health Services during the 1st quarter worth $31,000. EverSource Wealth Advisors LLC bought a new position in shares of BrightSpring Health Services during the 2nd quarter valued at $43,000. Kilter Group LLC bought a new position in shares of BrightSpring Health Services during the 2nd quarter valued at $50,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of BrightSpring Health Services in the 1st quarter valued at $52,000.

BrightSpring Health Services Trading Down 2.9%

BrightSpring Health Services stock opened at $59.13 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.22 and a current ratio of 1.59. The business’s 50-day simple moving average is $65.91 and its 200-day simple moving average is $54.81. The firm has a market capitalization of $11.70 billion, a PE ratio of 35.62, a PEG ratio of 0.71 and a beta of 1.88. BrightSpring Health Services, Inc. has a 52 week low of $22.86 and a 52 week high of $73.75.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings data on Friday, July 31st. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.05. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%.The business had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the previous year, the firm earned $0.22 EPS. The firm’s revenue was up 23.0% compared to the same quarter last year. Equities research analysts forecast that BrightSpring Health Services, Inc. will post 1.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on BTSG shares. Guggenheim began coverage on shares of BrightSpring Health Services in a report on Monday, July 13th. They issued a “buy” rating and a $81.00 price objective for the company. BMO Capital Markets set a $70.00 price objective on BrightSpring Health Services in a report on Thursday, May 21st. Zacks Research raised BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Morgan Stanley boosted their target price on BrightSpring Health Services from $71.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Finally, The Goldman Sachs Group initiated coverage on BrightSpring Health Services in a research report on Monday, June 8th. They set a “buy” rating and a $71.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating and eighteen have given a Buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $70.71.

Insider Buying and Selling

In other news, insider Jon B. Rousseau sold 130,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the completion of the transaction, the insider directly owned 1,194,503 shares in the company, valued at $70,177,051.25. The trade was a 9.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lisa A. Nalley sold 35,000 shares of the 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 completion of the sale, the insider directly owned 131,948 shares of the company’s stock, valued at $7,751,945. This represents a 20.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.80% of the stock is owned by insiders.

About BrightSpring Health Services

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.