Bank of America Corp DE Purchases 502,786 Shares of BrightSpring Health Services, Inc. $BTSG

Key Points

• Bank of America increased its BrightSpring Health Services stake by 48.7% in the first quarter, purchasing 502,786 shares and bringing its total holdings to 1.53 million shares worth approximately $65.4 million.
• BrightSpring reported quarterly EPS of $0.45, exceeding estimates of $0.40, while revenue reached $3.87 billion—up 23% year over year and above analysts’ expectations.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $70.71; however, two insiders recently sold a combined 165,000 shares.

Bank of America Corp DE boosted its position in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 48.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,534,154 shares of the company's stock after purchasing an additional 502,786 shares during the quarter. Bank of America Corp DE owned about 0.79% of BrightSpring Health Services worth $65,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. GHP Investment Advisors Inc. purchased a new position in shares of BrightSpring Health Services during the 1st quarter valued at $31,000. NBC Securities Inc. bought a new position in shares of BrightSpring Health Services in the fourth quarter worth $29,000. Salomon & Ludwin LLC purchased a new stake in shares of BrightSpring Health Services in the fourth quarter worth $30,000. Meeder Asset Management Inc. purchased a new stake in shares of BrightSpring Health Services in the first quarter worth $52,000. Finally, Farther Finance Advisors LLC boosted its stake in BrightSpring Health Services by 112.8% during the fourth quarter. Farther Finance Advisors LLC now owns 1,717 shares of the company's stock valued at $64,000 after buying an additional 910 shares during the period.

BrightSpring Health Services Trading Down 1.6%

Shares of BTSG stock opened at $61.45 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.59 and a debt-to-equity ratio of 1.06. The business has a 50-day moving average price of $66.55 and a two-hundred day moving average price of $52.91. BrightSpring Health Services, Inc. has a 12-month low of $20.63 and a 12-month high of $73.75. The firm has a market cap of $12.16 billion, a P/E ratio of 37.02, a price-to-earnings-growth ratio of 0.76 and a beta of 1.88.

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

Insider Buying and Selling

In other BrightSpring Health Services news, insider Jon B. Rousseau sold 130,000 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 transaction of $7,637,500.00. Following the transaction, the insider directly owned 1,194,503 shares in the company, valued at $70,177,051.25. This trade represents a 9.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lisa A. Nalley sold 35,000 shares of BrightSpring Health Services stock in a transaction that occurred on Friday, June 5th. The stock was 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 in the company, valued at $7,751,945. This trade represents a 20.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 2.80% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. TD Cowen boosted their target price on BrightSpring Health Services from $65.00 to $81.00 and gave the stock a "buy" rating in a research report on Thursday, June 18th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $70.00 price target on shares of BrightSpring Health Services in a report on Monday, August 3rd. KeyCorp reiterated an "overweight" rating on shares of BrightSpring Health Services in a research report on Monday, August 3rd. Mizuho boosted their price objective on BrightSpring Health Services from $52.00 to $61.00 and gave the stock an "outperform" rating in a report on Tuesday, May 5th. Finally, Guggenheim began coverage on shares of BrightSpring Health Services in a research report on Monday, July 13th. They issued a "buy" rating and a $81.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating and eighteen have given a Buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $70.71.

BrightSpring Health Services Company 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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