BrightSpring Health Services (NASDAQ:BTSG) Issues Quarterly Earnings Results

Key Points

• BrightSpring Health Services reported earnings of $0.22 per share for the quarter, exceeding expectations by $0.03 and achieving $3.15 billion in revenue, marking a 15.3% increase year-over-year.
• Shares of BrightSpring Health Services fell 2.5% to $20.13 on the day following the earnings announcement, despite a market capitalization of $3.54 billion.
• Insider Jon B. Rousseau sold over 531,000 shares for more than $11.5 million, representing a significant decrease in his holdings, following a trend of insider transactions in the past ninety days.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) posted its quarterly earnings results on Friday. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.03, Zacks reports. BrightSpring Health Services had a return on equity of 9.42% and a net margin of 0.55%. The business had revenue of $3.15 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period last year, the company earned $0.10 EPS. BrightSpring Health Services's revenue for the quarter was up 15.3% compared to the same quarter last year. BrightSpring Health Services updated its FY 2025 guidance to EPS.

BrightSpring Health Services Price Performance

Shares of BrightSpring Health Services stock traded up $0.30 during trading hours on Tuesday, hitting $19.66. The company's stock had a trading volume of 776,168 shares, compared to its average volume of 2,049,754. The business has a 50 day moving average price of $21.81 and a two-hundred day moving average price of $20.52. BrightSpring Health Services has a 12-month low of $11.06 and a 12-month high of $25.57. The company has a market cap of $3.46 billion, a PE ratio of 63.49 and a beta of 2.25. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.37 and a current ratio of 1.73.

Insider Activity

In other news, major shareholder Phoenix Aggregator L.P. Kkr sold 13,288,101 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $21.15, for a total value of $281,043,336.15. Following the transaction, the insider directly owned 79,671,883 shares in the company, valued at $1,685,060,325.45. The trade was a 14.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jon B. Rousseau sold 531,840 shares of the business's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $21.75, for a total value of $11,567,520.00. Following the completion of the transaction, the insider owned 1,184,133 shares in the company, valued at $25,754,892.75. The trade was a 30.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,919,941 shares of company stock worth $337,025,856 over the last 90 days. Company insiders own 3.40% of the company's stock.

Institutional Investors Weigh In On BrightSpring Health Services

A number of hedge funds have recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of BrightSpring Health Services by 11.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,280 shares of the company's stock worth $2,664,000 after buying an additional 14,586 shares in the last quarter. Millennium Management LLC lifted its position in shares of BrightSpring Health Services by 0.3% in the first quarter. Millennium Management LLC now owns 577,885 shares of the company's stock worth $10,454,000 after buying an additional 1,967 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in BrightSpring Health Services by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,429 shares of the company's stock worth $587,000 after acquiring an additional 1,780 shares during the last quarter. Finally, AQR Capital Management LLC bought a new stake in BrightSpring Health Services during the first quarter worth approximately $276,000.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BTSG shares. Wells Fargo & Company raised their target price on BrightSpring Health Services from $25.00 to $27.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. Wall Street Zen cut BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. TD Cowen assumed coverage on BrightSpring Health Services in a research note on Monday, June 23rd. They set a "buy" rating and a $37.00 price objective for the company. Morgan Stanley lifted their price objective on BrightSpring Health Services from $20.00 to $25.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Finally, Mizuho set a $26.00 price objective on BrightSpring Health Services in a research note on Monday, May 5th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $24.90.

About BrightSpring Health Services

BrightSpring Health Services, Inc operates a home and community-based healthcare services platform in the United States. The company's platform focuses on delivering pharmacy and provider services, including clinical and supportive care in home and community settings to Medicare, Medicaid, and insured populations.