Alliancebernstein L.P. Reduces Position in BrightSpring Health Services, Inc. $BTSG

Key Points

• Alliancebernstein L.P. has reduced its stake in BrightSpring Health Services by 9.7%, now holding approximately 4.86 million shares valued at $87.9 million.
• Multiple hedge funds, including T. Rowe Price and Invesco, significantly increased their holdings in BrightSpring, with T. Rowe Price boosting its position by 264.7%.
• BrightSpring reported a quarterly earnings per share (EPS) of $0.22, exceeding analysts' expectations, and forecasted a FY 2025 EPS of 0.59.

Alliancebernstein L.P. decreased its holdings in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 9.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,861,443 shares of the company's stock after selling 522,774 shares during the quarter. Alliancebernstein L.P. owned about 2.79% of BrightSpring Health Services worth $87,944,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in BTSG. T. Rowe Price Investment Management Inc. boosted its holdings in shares of BrightSpring Health Services by 264.7% during the first quarter. T. Rowe Price Investment Management Inc. now owns 5,772,772 shares of the company's stock worth $104,430,000 after purchasing an additional 4,189,805 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of BrightSpring Health Services by 41.0% during the first quarter. Invesco Ltd. now owns 6,172,597 shares of the company's stock worth $111,662,000 after purchasing an additional 1,794,035 shares during the last quarter. Nuveen LLC acquired a new stake in shares of BrightSpring Health Services during the first quarter worth $29,333,000. Vanguard Group Inc. boosted its holdings in shares of BrightSpring Health Services by 24.6% during the first quarter. Vanguard Group Inc. now owns 6,633,744 shares of the company's stock worth $120,004,000 after purchasing an additional 1,308,651 shares during the last quarter. Finally, Iron Triangle Partners LP acquired a new stake in shares of BrightSpring Health Services during the first quarter worth $13,067,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their price objective on BrightSpring Health Services from $20.00 to $25.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Wall Street Zen cut BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Cowen reiterated a "buy" rating on shares of BrightSpring Health Services in a report on Monday, August 4th. TD Cowen initiated coverage on BrightSpring Health Services in a report on Monday, June 23rd. They issued a "buy" rating and a $37.00 target price on the stock. Finally, Wells Fargo & Company lifted their target price on BrightSpring Health Services from $25.00 to $27.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, BrightSpring Health Services has a consensus rating of "Moderate Buy" and a consensus target price of $25.67.

Insider Transactions at BrightSpring Health Services

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 531,840 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $21.75, for a total transaction of $11,567,520.00. Following 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 owned 79,671,883 shares in the company, valued at approximately $1,685,060,325.45. This represents a 14.29% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,919,941 shares of company stock worth $337,025,856. 3.40% of the stock is currently owned by insiders.

BrightSpring Health Services Trading Up 0.2%

Shares of BTSG opened at $24.13 on Friday. The stock's 50-day moving average is $21.84 and its two-hundred day moving average is $20.63. The stock has a market cap of $4.27 billion, a PE ratio of 77.84 and a beta of 2.27. BrightSpring Health Services, Inc. has a 12 month low of $12.74 and a 12 month high of $25.57. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.76 and a quick ratio of 1.34.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.03. The company had revenue of $3.15 billion for the quarter, compared to analysts' expectations of $2.99 billion. BrightSpring Health Services had a return on equity of 9.29% and a net margin of 0.55%.The firm's quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 earnings per share. BrightSpring Health Services has set its FY 2025 guidance at EPS. Equities analysts forecast that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current fiscal year.

BrightSpring Health Services Company Profile

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.

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