267,486 Shares in BrightSpring Health Services, Inc. $BTSG Acquired by Jupiter Topco LLC

Key Points

• Jupiter Topco LLC acquired 267,486 BrightSpring shares worth approximately $18.7 million, representing about 0.14% of the company; several other institutional investors also initiated positions.
• BrightSpring reported stronger-than-expected quarterly results, with EPS of $0.45 versus the $0.40 consensus and revenue of $3.87 billion, up 23% year over year.
• The stock traded at $59.13 after falling 2.9%, while analysts maintained a favorable outlook: the consensus rating was “Buy” with an average price target of $70.71.

Jupiter Topco LLC bought a new stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 267,486 shares of the company's stock, valued at approximately $18,655,000. Jupiter Topco LLC owned about 0.14% of BrightSpring Health Services at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Allworth Financial LP acquired a new position in BrightSpring Health Services in the second quarter worth approximately $28,000. GHP Investment Advisors Inc. acquired a new stake in shares of BrightSpring Health Services during the 1st quarter valued at $31,000. Kilter Group LLC bought a new stake in shares of BrightSpring Health Services during the 2nd quarter worth $50,000. Meeder Asset Management Inc. bought a new stake in shares of BrightSpring Health Services during the 1st quarter worth $52,000. Finally, Harbor Investment Advisory LLC acquired a new position in shares of BrightSpring Health Services in the 2nd quarter worth $91,000.

BrightSpring Health Services Trading Down 2.9%

NASDAQ:BTSG opened at $59.13 on Friday. The stock has a market cap of $11.70 billion, a PE ratio of 35.62, a price-to-earnings-growth ratio of 0.71 and a beta of 1.88. BrightSpring Health Services, Inc. has a fifty-two week low of $22.86 and a fifty-two week high of $73.75. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.59 and a quick ratio of 1.22. The stock's 50-day moving average is $65.91 and its two-hundred day moving average is $54.81.

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

Insider Activity at BrightSpring Health Services

In other BrightSpring Health Services news, 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 owned 131,948 shares in the company, valued at $7,751,945. This represents a 20.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction on 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 sale, the insider directly owned 1,194,503 shares of the company's stock, valued at $70,177,051.25. This trade represents a 9.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BTSG. The Goldman Sachs Group started coverage on BrightSpring Health Services in a research report on Monday, June 8th. They set a "buy" rating and a $71.00 target price on the stock. Morgan Stanley lifted their price target on BrightSpring Health Services from $71.00 to $80.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 14th. Stephens boosted their price objective on BrightSpring Health Services from $53.00 to $64.00 and gave the stock an "overweight" rating in a report on Monday, May 4th. Mizuho upped their price objective 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, May 5th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of BrightSpring Health Services in a report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating and eighteen have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $70.71.

BrightSpring Health Services 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.

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