Bellars Harris Wealth Management LLC Purchases New Position in BrightSpring Health Services, Inc. $BTSG

Key Points

• Bellars Harris Wealth Management purchased 63,001 BrightSpring Health Services shares during the second quarter, valued at approximately $4.4 million. Several other institutional investors also initiated positions.
• BrightSpring reported quarterly EPS of $0.45, beating estimates by $0.05, while revenue rose 23% year over year to $3.87 billion. Analysts expect full-year EPS of $1.78.
• Wall Street maintains a favorable outlook, with a consensus “Buy” rating and an average price target of $70.71, although insiders recently sold a combined 165,000 shares.

Bellars Harris Wealth Management LLC purchased a new stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm purchased 63,001 shares of the company's stock, valued at approximately $4,394,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. NBC Securities Inc. bought a new stake in BrightSpring Health Services in the fourth quarter valued at approximately $29,000. Salomon & Ludwin LLC bought a new position in shares of BrightSpring Health Services during the fourth quarter worth $30,000. GHP Investment Advisors Inc. bought a new position in shares of BrightSpring Health Services during the first quarter worth $31,000. EverSource Wealth Advisors LLC bought a new position in shares of BrightSpring Health Services during the second quarter worth $43,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of BrightSpring Health Services in the 1st quarter valued at $52,000.

BrightSpring Health Services Stock Performance

Shares of BTSG stock opened at $61.71 on Friday. BrightSpring Health Services, Inc. has a 12 month low of $22.36 and a 12 month high of $73.75. The company's fifty day simple moving average is $66.64 and its 200-day simple moving average is $53.39. The firm has a market cap of $12.21 billion, a PE ratio of 37.17, a P/E/G ratio of 0.75 and a beta of 1.88. The company has a quick ratio of 1.22, a current ratio of 1.59 and a debt-to-equity ratio of 1.06.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last released its earnings results on Friday, July 31st. The company reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.05. BrightSpring Health Services had a net margin of 2.55% and a return on equity of 16.73%. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter last year, the firm earned $0.22 earnings per share. The firm's revenue for the quarter was up 23.0% compared to the same quarter last year. Equities research analysts expect that BrightSpring Health Services, Inc. will post 1.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on BTSG shares. Mizuho upped their price objective on shares of BrightSpring Health Services from $52.00 to $61.00 and gave the company an "outperform" rating in a research report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $70.00 target price on shares of BrightSpring Health Services in a report on Monday, August 3rd. Guggenheim began coverage on BrightSpring Health Services in a research note on Monday, July 13th. They issued a "buy" rating and a $81.00 target price for the company. Bank of America increased their price target on BrightSpring Health Services from $66.00 to $77.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. Finally, Raymond James Financial initiated coverage on BrightSpring Health Services in a research report on Thursday, July 9th. They set an "outperform" rating and a $80.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating and eighteen have issued a Buy rating to the stock. Based on data from MarketBeat, BrightSpring Health Services currently has a consensus rating of "Buy" and a consensus price target of $70.71.

Insider Activity

In other news, insider Lisa A. Nalley sold 35,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the insider owned 131,948 shares in the company, valued at $7,751,945. This trade represents a 20.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jon B. Rousseau sold 130,000 shares of BrightSpring Health Services stock in a transaction dated 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 completion of the sale, the insider directly owned 1,194,503 shares in the company, valued at approximately $70,177,051.25. This represents a 9.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.80% of the company's stock.

About BrightSpring Health Services

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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