Bank of America Corp DE Sells 777,543 Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG)

Bank of America Corp DE decreased its position in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 56.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 612,061 shares of the company's stock after selling 777,543 shares during the period. Bank of America Corp DE owned about 0.35% of BrightSpring Health Services worth $10,423,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC raised its holdings in shares of BrightSpring Health Services by 21.6% in the fourth quarter. FMR LLC now owns 22,102,490 shares of the company's stock valued at $376,405,000 after purchasing an additional 3,933,303 shares during the last quarter. Vanguard Group Inc. grew its position in BrightSpring Health Services by 5.3% in the fourth quarter. Vanguard Group Inc. now owns 5,325,093 shares of the company's stock valued at $90,686,000 after purchasing an additional 268,132 shares in the last quarter. Invesco Ltd. increased its stake in BrightSpring Health Services by 1.0% in the 4th quarter. Invesco Ltd. now owns 4,378,562 shares of the company's stock valued at $74,567,000 after buying an additional 41,991 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in BrightSpring Health Services by 13.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,698,629 shares of the company's stock worth $45,959,000 after buying an additional 328,977 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. bought a new stake in BrightSpring Health Services during the 4th quarter worth about $26,958,000.

BrightSpring Health Services Stock Performance

Shares of BTSG traded up $0.20 during mid-day trading on Thursday, reaching $23.40. The company's stock had a trading volume of 1,927,305 shares, compared to its average volume of 1,438,877. The company has a current ratio of 1.35, a quick ratio of 0.97 and a debt-to-equity ratio of 1.63. BrightSpring Health Services, Inc. has a 1-year low of $10.15 and a 1-year high of $24.82. The business has a 50-day simple moving average of $19.60 and a two-hundred day simple moving average of $19.33. The stock has a market cap of $4.08 billion, a P/E ratio of -90.00 and a beta of 2.06.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last announced its earnings results on Friday, May 2nd. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.09 by $0.10. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.74 billion. BrightSpring Health Services had a negative net margin of 0.38% and a positive return on equity of 4.16%. BrightSpring Health Services's revenue was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.12 EPS. As a group, equities research analysts anticipate that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BTSG shares. Morgan Stanley raised their price objective on BrightSpring Health Services from $20.00 to $25.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Mizuho set a $26.00 price target on BrightSpring Health Services in a research note on Monday, May 5th. Wells Fargo & Company upped their price objective on BrightSpring Health Services from $25.00 to $27.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 13th. Finally, UBS Group increased their price objective on BrightSpring Health Services from $22.00 to $30.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $23.56.

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.