Man Group plc Acquires Shares of 70,628 BrightSpring Health Services, Inc. $BTSG

Man Group plc acquired a new stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) in the second quarter, HoldingsChannel reports. The firm acquired 70,628 shares of the company’s stock, valued at approximately $4,926,000.

Other institutional investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company bought a new stake in shares of BrightSpring Health Services in the second quarter worth about $239,377,000. Vanguard Group Inc. boosted its stake in BrightSpring Health Services by 30.5% during the fourth quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company’s stock valued at $469,385,000 after buying an additional 2,928,953 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in BrightSpring Health Services by 936.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company’s stock valued at $53,705,000 after buying an additional 2,056,920 shares in the last quarter. State Street Corp grew its holdings in BrightSpring Health Services by 99.5% during 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 increased its stake in BrightSpring Health Services by 855.4% in the 2nd quarter. Jane Street Group LLC now owns 2,076,730 shares of the company’s stock worth $48,990,000 after acquiring an additional 1,859,369 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Zacks Research raised BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Raymond James Financial initiated coverage on shares of BrightSpring Health Services in a report on Thursday, July 9th. They issued an “outperform” rating and a $80.00 target price for the company. Bank of America boosted their price target 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. BMO Capital Markets set a $70.00 price target on shares of BrightSpring Health Services in a research note on Thursday, May 21st. Finally, Morgan Stanley upped their price target on shares of BrightSpring Health Services from $71.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating and eighteen have given a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $70.71.

Insider Activity at BrightSpring Health Services

In related news, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction dated Friday, June 5th. The shares were 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 of the company’s stock, valued at approximately $70,177,051.25. The trade was a 9.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lisa A. Nalley sold 35,000 shares of BrightSpring Health Services 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 $2,056,250.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.80% of the company’s stock.

BrightSpring Health Services Stock Performance

BTSG opened at $59.13 on Monday. The stock has a 50-day moving average of $65.91 and a 200 day moving average of $54.92. The company has a current ratio of 1.59, a quick ratio of 1.22 and a debt-to-equity ratio of 1.06. BrightSpring Health Services, Inc. has a 12 month low of $22.86 and a 12 month high of $73.75. The firm has a market cap 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.

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

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.