Bank of New York Mellon Corp Purchases 38,159 Shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG)

Bank of New York Mellon Corp increased its position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 24.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 195,372 shares of the company's stock after purchasing an additional 38,159 shares during the quarter. Bank of New York Mellon Corp owned 0.11% of BrightSpring Health Services worth $3,534,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP bought a new stake in BrightSpring Health Services during the fourth quarter worth about $29,000. Highland Capital Management LLC bought a new position in shares of BrightSpring Health Services in the first quarter worth about $181,000. Envestnet Asset Management Inc. bought a new position in shares of BrightSpring Health Services in the fourth quarter worth about $188,000. KLP Kapitalforvaltning AS bought a new position in shares of BrightSpring Health Services in the fourth quarter worth about $206,000. Finally, Teacher Retirement System of Texas bought a new position in shares of BrightSpring Health Services in the fourth quarter worth about $234,000.

BrightSpring Health Services Stock Performance

NASDAQ:BTSG opened at $20.53 on Friday. The company has a market capitalization of $3.61 billion, a PE ratio of 73.32 and a beta of 2.30. The company has a 50 day simple moving average of $22.20 and a two-hundred day simple moving average of $20.39. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.37 and a current ratio of 1.73. BrightSpring Health Services, Inc. has a fifty-two week low of $10.15 and a fifty-two week high of $25.57.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.09 by $0.10. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.74 billion. BrightSpring Health Services had a net margin of 0.49% and a return on equity of 7.76%. The company's quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.12 EPS. Research analysts anticipate that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BTSG shares. Wall Street Zen cut shares of BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a report on Saturday. Wells Fargo & Company increased their target price on shares of BrightSpring Health Services from $25.00 to $27.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. Morgan Stanley increased their target price on shares of BrightSpring Health Services from $20.00 to $25.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. TD Cowen started coverage on shares of BrightSpring Health Services in a report on Monday, June 23rd. They issued a "buy" rating and a $37.00 target price for the company. Finally, Mizuho set a $26.00 target price on shares of BrightSpring Health Services in a report on Monday, May 5th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.90.

Insider Activity at BrightSpring Health Services

In related news, insider Jon B. Rousseau sold 531,840 shares of BrightSpring Health Services stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $21.75, for a total value of $11,567,520.00. Following the completion of the sale, the insider owned 1,184,133 shares of the company's stock, valued at approximately $25,754,892.75. This trade represents a 30.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Phoenix Aggregator L.P. Kkr sold 2,100,000 shares of BrightSpring Health Services stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $21.15, for a total transaction of $44,415,000.00. Following the completion of the sale, the insider directly owned 77,096,337 shares of the company's stock, valued at approximately $1,630,587,527.55. The trade was a 2.65% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,919,941 shares of company stock valued at $337,025,856. Insiders own 3.40% of the company's stock.

BrightSpring Health Services 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.