Algert Global LLC Sells 123,183 Shares of BrightSpring Health Services, Inc. $BTSG

Key Points

• Algert Global reduced its BrightSpring Health Services stake by 37.6%, selling 123,183 shares in the second quarter and retaining 204,515 shares valued at approximately $14.3 million.
• Analysts remain broadly bullish, with the stock carrying a consensus “Buy” rating and an average price target of $70.71; Wells Fargo recently raised its target to $78.
• BrightSpring exceeded quarterly expectations, reporting EPS of $0.45 versus $0.40 expected and revenue of $3.87 billion, up 23% year over year.

Algert Global LLC trimmed its position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 37.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 204,515 shares of the company's stock after selling 123,183 shares during the period. Algert Global LLC owned about 0.10% of BrightSpring Health Services worth $14,263,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Allworth Financial LP bought a new position in BrightSpring Health Services in the second quarter worth $28,000. NBC Securities Inc. purchased a new stake in shares of BrightSpring Health Services during the 4th quarter valued at about $29,000. GHP Investment Advisors Inc. bought a new position in BrightSpring Health Services in the 1st quarter worth $31,000. EverSource Wealth Advisors LLC purchased a new position in BrightSpring Health Services during the second quarter valued at approximately $43,000. Finally, Kilter Group LLC purchased a new position in shares of BrightSpring Health Services in the second quarter valued at about $50,000.

Analyst Ratings Changes

A number of analysts have issued reports on BTSG shares. Zacks Research raised BrightSpring Health Services from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 4th. KeyCorp reiterated an "overweight" rating on shares of BrightSpring Health Services in a research note on Monday, August 3rd. Weiss Ratings reiterated a "buy (b-)" rating on shares of BrightSpring Health Services in a report on Friday, July 31st. BMO Capital Markets set a $70.00 price objective on shares of BrightSpring Health Services in a research note on Thursday, May 21st. Finally, Wells Fargo & Company lifted their target price on BrightSpring Health Services from $61.00 to $78.00 and gave the company an "overweight" rating in a research note on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating and eighteen have given a Buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $70.71.

Insider Buying and Selling at BrightSpring Health Services

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 130,000 shares of the company's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $58.75, for a total value of $7,637,500.00. Following the transaction, the insider owned 1,194,503 shares of the company's stock, valued at $70,177,051.25. This represents a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Lisa A. Nalley sold 35,000 shares of the business's stock in a transaction 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. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is owned by company insiders.

BrightSpring Health Services Stock Performance

BTSG opened at $57.23 on Wednesday. The firm has a fifty day moving average price of $66.22 and a 200 day moving average price of $54.47. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.59 and a quick ratio of 1.22. BrightSpring Health Services, Inc. has a 1 year low of $22.86 and a 1 year high of $73.75. The stock has a market cap of $11.32 billion, a P/E ratio of 34.48, a P/E/G ratio of 0.71 and a beta of 1.88.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.40 by $0.05. The company 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 quarter in the previous year, the firm earned $0.22 EPS. Equities research analysts anticipate that BrightSpring Health Services, Inc. will post 1.82 earnings per share for the current year.

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.

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