Vanguard Group Inc. Raises Position in BrightSpring Health Services, Inc. $BTSG

Vanguard Group Inc. grew its position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG) by 30.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 12,533,656 shares of the company’s stock after acquiring an additional 2,928,953 shares during the period. Vanguard Group Inc. owned about 0.07% of BrightSpring Health Services worth $469,385,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Lisanti Capital Growth LLC bought a new stake in shares of BrightSpring Health Services during the third quarter valued at approximately $1,959,000. Federated Hermes Inc. grew its stake in BrightSpring Health Services by 44.8% in the third quarter. Federated Hermes Inc. now owns 319,200 shares of the company’s stock worth $9,436,000 after purchasing an additional 98,745 shares during the period. Prescott Group Capital Management L.L.C. bought a new position in BrightSpring Health Services in the third quarter worth $887,000. Bailard Inc. purchased a new position in BrightSpring Health Services during the third quarter valued at $378,000. Finally, 8 Knots Management LLC purchased a new position in BrightSpring Health Services during the third quarter valued at $51,244,000.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Weiss Ratings upgraded shares of BrightSpring Health Services from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday. Leerink Partners reissued an “outperform” rating and set a $49.00 price target on shares of BrightSpring Health Services in a research report on Wednesday, March 18th. Zacks Research raised shares of BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. BMO Capital Markets upped their price objective on shares of BrightSpring Health Services from $52.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Mizuho raised their target price on shares of BrightSpring Health Services from $52.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $55.29.

Insider Buying and Selling

In other BrightSpring Health Services news, insider Lisa A. Nalley sold 30,000 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total transaction of $1,234,500.00. Following the transaction, the insider owned 110,594 shares in the company, valued at approximately $4,550,943.10. This represents a 21.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jennifer A. Phipps sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total transaction of $1,440,250.00. Following the sale, the chief financial officer directly owned 196,840 shares in the company, valued at approximately $8,099,966. The trade was a 15.10% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 285,000 shares of company stock worth $11,727,750. 2.80% of the stock is owned by corporate insiders.

BrightSpring Health Services Stock Performance

Shares of BTSG opened at $51.44 on Wednesday. The company has a market cap of $9.98 billion, a price-to-earnings ratio of 36.48, a P/E/G ratio of 0.73 and a beta of 1.71. The business’s fifty day simple moving average is $43.71 and its two-hundred day simple moving average is $39.00. BrightSpring Health Services, Inc. has a 12 month low of $19.01 and a 12 month high of $54.68. The company has a current ratio of 1.74, a quick ratio of 1.38 and a debt-to-equity ratio of 1.24.

BrightSpring Health Services (NASDAQ:BTSG) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.10. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The company’s revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 earnings per share. Research analysts anticipate that BrightSpring Health Services, Inc. will post 1.55 earnings per share for the current fiscal year.

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.