Key Points
- Insider sale: BrightSpring Health Services insider Lisa Nalley sold 35,000 shares at an average price of $58.75, totaling about $2.06 million. After the sale, she still held 131,948 shares, reducing her ownership by 20.96%.
- Strong quarterly results: The company reported quarterly EPS of $0.39, beating analyst estimates by $0.10, on revenue of $3.61 billion versus expectations of $3.39 billion. Revenue rose 25.6% year over year.
- Wall Street remains upbeat: Analysts largely maintain a positive view, with a consensus rating of Buy and a consensus price target of $57.64. Recent firms including BMO, Stephens, and UBS have set or raised bullish targets on the stock.
BrightSpring Health Services, Inc. (NASDAQ:BTSG - Get Free Report) insider Lisa Nalley sold 35,000 shares of the stock in a transaction dated 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 directly owned 131,948 shares in the company, valued at $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
BrightSpring Health Services Stock Performance
BrightSpring Health Services stock opened at $57.40 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.74 and a quick ratio of 1.38. BrightSpring Health Services, Inc. has a 1-year low of $19.01 and a 1-year high of $62.11. The firm has a market capitalization of $11.13 billion, a P/E ratio of 40.71, a price-to-earnings-growth ratio of 0.74 and a beta of 1.87. The company's 50-day moving average is $51.25 and its 200 day moving average is $42.99.
BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last posted 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. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period in the prior year, the company posted $0.14 EPS. The firm's revenue for the quarter was up 25.6% on a year-over-year basis. Research analysts forecast that BrightSpring Health Services, Inc. will post 1.67 EPS for the current year.
Hedge Funds Weigh In On BrightSpring Health Services
A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of BrightSpring Health Services by 30.5% during the fourth quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company's stock worth $469,385,000 after acquiring an additional 2,928,953 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of BrightSpring Health Services by 4.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,662,236 shares of the company's stock worth $399,302,000 after acquiring an additional 478,436 shares during the period. Invesco Ltd. increased its position in shares of BrightSpring Health Services by 13.4% during the fourth quarter. Invesco Ltd. now owns 10,595,232 shares of the company's stock worth $396,791,000 after acquiring an additional 1,248,107 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in shares of BrightSpring Health Services by 21.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,123,865 shares of the company's stock valued at $229,339,000 after purchasing an additional 1,091,757 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of BrightSpring Health Services by 12.1% during the second quarter. Alliancebernstein L.P. now owns 5,450,085 shares of the company's stock valued at $128,568,000 after purchasing an additional 588,642 shares in the last quarter.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on BTSG. BMO Capital Markets set a $70.00 price objective on shares of BrightSpring Health Services in a research report on Thursday, May 21st. Stephens raised their target price on shares of BrightSpring Health Services from $53.00 to $64.00 and gave the stock an "overweight" rating in a research report on Monday, May 4th. UBS Group raised their target price on shares of BrightSpring Health Services from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday, March 18th. Wall Street Zen lowered shares of BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 23rd. Finally, Cantor Fitzgerald set a $49.00 target price on shares of BrightSpring Health Services in a research report on Monday, March 2nd. 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.com, the stock has a consensus rating of "Buy" and a consensus target price of $57.64.
Check Out Our Latest Stock Report on BTSG
About BrightSpring Health Services
(
Get Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
