Ausbil Investment Management Ltd Makes New $2 Million Investment in BrightSpring Health Services, Inc. $BTSG

Key Points

• Ausbil Investment Management acquired 28,709 BrightSpring shares in the second quarter, representing a new position valued at approximately $2.0 million. Several other institutional investors also initiated smaller stakes.
• BrightSpring insiders sold a combined 165,000 shares at an average price of $58.75, reducing their respective holdings; insiders now own 2.80% of the company.
• Analyst sentiment remains positive, with a consensus “Buy” rating and a $70.71 price target. The company also exceeded quarterly expectations, reporting $0.45 EPS and $3.87 billion in revenue, up 23% year over year.

Ausbil Investment Management Ltd acquired a new position in 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 acquired 28,709 shares of the company's stock, valued at approximately $2,005,000.

Other large investors also recently modified their holdings of the company. NBC Securities Inc. bought a new position in BrightSpring Health Services during the 4th quarter valued at $29,000. Salomon & Ludwin LLC bought a new stake in shares of BrightSpring Health Services in the 4th quarter worth $30,000. GHP Investment Advisors Inc. purchased a new stake in shares of BrightSpring Health Services in the first quarter valued at about $31,000. EverSource Wealth Advisors LLC purchased a new stake in shares of BrightSpring Health Services in the second quarter valued at about $43,000. Finally, Meeder Asset Management Inc. bought a new position in shares of BrightSpring Health Services during the first quarter valued at about $52,000.

Insider Activity at BrightSpring Health Services

In related news, insider Lisa A. Nalley sold 35,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $58.75, for a total value of $2,056,250.00. Following the sale, the insider owned 131,948 shares in the company, valued at approximately $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 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. This represents a 9.82% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BTSG. Wells Fargo & Company boosted their price target on shares of BrightSpring Health Services from $61.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, July 13th. TD Cowen increased their price objective on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the company a "buy" rating in a research note on Thursday, June 18th. BMO Capital Markets set a $70.00 target price on shares of BrightSpring Health Services in a research report on Thursday, May 21st. Bank of America boosted their target price on BrightSpring Health Services from $66.00 to $77.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Finally, UBS Group increased their price target on BrightSpring Health Services from $63.00 to $85.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating and eighteen have issued a Buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $70.71.

BrightSpring Health Services Price Performance

Shares of NASDAQ BTSG opened at $61.45 on Tuesday. The stock has a market cap of $12.16 billion, a PE ratio of 37.02, a price-to-earnings-growth ratio of 0.76 and a beta of 1.88. BrightSpring Health Services, Inc. has a fifty-two week low of $20.63 and a fifty-two week high of $73.75. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.22 and a current ratio of 1.59. The stock has a fifty day moving average of $66.55 and a 200-day moving average of $52.91.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last issued its quarterly earnings data 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. BrightSpring Health Services had a return on equity of 16.73% and a net margin of 2.55%.The business had revenue of $3.87 billion for the quarter, compared to analysts' expectations of $3.66 billion. During the same quarter in the prior year, the firm posted $0.22 EPS. The firm's quarterly revenue was up 23.0% on a year-over-year basis. Equities research analysts anticipate that BrightSpring Health Services, Inc. will post 1.78 earnings per share for the current year.

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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