33,552 Shares in BrightSpring Health Services, Inc. $BTSG Bought by Csenge Advisory Group

Key Points

• Csenge Advisory Group initiated a position of 33,552 BrightSpring Health Services shares worth approximately $2.34 million. Several major institutional investors, including Vanguard, Invesco and T. Rowe Price, also increased their holdings.
• BrightSpring exceeded quarterly expectations, reporting adjusted EPS of $0.45 versus the $0.40 consensus and revenue of $3.87 billion, up 23% year over year. Analysts project full-year EPS of $1.78.
• Analyst sentiment remains positive, with the stock carrying a consensus “Buy” rating and an average price target of $70.71; however, insiders recently sold shares, including transactions totaling $9.69 million.

Csenge Advisory Group purchased a new stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 33,552 shares of the company's stock, valued at approximately $2,340,000.

Several other institutional investors also recently bought and sold shares of BTSG. Vanguard Group Inc. grew its position in BrightSpring Health Services by 30.5% in the fourth quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company's stock valued at $469,385,000 after acquiring an additional 2,928,953 shares in the last quarter. Price T Rowe Associates Inc. MD lifted 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 purchasing an additional 478,436 shares in the last quarter. Invesco Ltd. lifted 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 purchasing an additional 1,248,107 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of BrightSpring Health Services by 21.7% in 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 during the period. Finally, Alliancebernstein L.P. boosted its stake in shares of BrightSpring Health Services by 12.1% in 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 during the period.

Insider Transactions at BrightSpring Health Services

In other BrightSpring Health Services news, insider Lisa A. Nalley sold 35,000 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $58.75, for a total transaction of $2,056,250.00. Following the transaction, the insider directly owned 131,948 shares of the company's stock, valued at $7,751,945. This represents a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jon B. Rousseau sold 130,000 shares of the company's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $58.75, for a total value 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. The trade was a 9.82% decrease in their position. The SEC filing for this sale provides additional information. 2.80% of the stock is owned by corporate insiders.

BrightSpring Health Services Stock Performance

Shares of NASDAQ BTSG opened at $59.33 on Thursday. BrightSpring Health Services, Inc. has a 12-month low of $22.86 and a 12-month high of $73.75. The company has a market cap of $11.74 billion, a PE ratio of 35.74, a P/E/G ratio of 0.73 and a beta of 1.88. The stock has a 50 day simple moving average of $66.61 and a 200-day simple moving average of $53.91. 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 (NASDAQ:BTSG - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The company reported $0.45 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 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 business's revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter last year, the business earned $0.22 earnings per share. On average, equities research analysts forecast that BrightSpring Health Services, Inc. will post 1.78 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on BTSG. Stephens lifted 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. KeyCorp reiterated an "overweight" rating on shares of BrightSpring Health Services in a research note on Monday, August 3rd. TD Cowen raised their price target on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the stock a "buy" rating in a research report on Thursday, June 18th. UBS Group lifted their price target on shares of BrightSpring Health Services from $63.00 to $85.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Finally, Bank of America upped their price target on shares of BrightSpring Health Services from $66.00 to $77.00 and gave the company a "buy" rating in a report on Thursday, July 2nd. Two analysts have rated the stock with a Strong Buy rating and eighteen have given a Buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $70.71.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source