BrightSpring Health Services, Inc. $BTSG Shares Acquired by First Trust Advisors LP

Key Points

• First Trust Advisors increased its BrightSpring Health Services stake by 11.1% in the first quarter, reaching 534,636 shares valued at approximately $22.8 million. Several other major institutional investors also significantly expanded their positions.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $70.12; BTIG Research recently raised its target to $90.
• BrightSpring reported first-quarter earnings of $0.39 per share, beating estimates, while revenue rose 25.6% year over year to $3.61 billion. Two insiders sold shares at $58.75 each, and BTSG opened at $69.37 after recently declining 4.3%.

First Trust Advisors LP lifted its holdings in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 11.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 534,636 shares of the company's stock after purchasing an additional 53,200 shares during the quarter. First Trust Advisors LP owned about 0.28% of BrightSpring Health Services worth $22,781,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in BrightSpring Health Services by 30.5% in the 4th quarter. Vanguard Group Inc. now owns 12,533,656 shares of the company's stock valued at $469,385,000 after buying an additional 2,928,953 shares during the period. The Manufacturers Life Insurance Company boosted its stake in BrightSpring Health Services by 936.4% during the second quarter. The Manufacturers Life Insurance Company now owns 2,276,583 shares of the company's stock worth $53,705,000 after buying an additional 2,056,920 shares during the period. State Street Corp increased its position in shares of BrightSpring Health Services by 99.5% during the fourth quarter. State Street Corp now owns 4,033,149 shares of the company's stock valued at $151,041,000 after acquiring an additional 2,011,095 shares during the last quarter. Jane Street Group LLC increased its position in shares of BrightSpring Health Services by 855.4% during the second quarter. Jane Street Group LLC now owns 2,076,730 shares of the company's stock valued at $48,990,000 after acquiring an additional 1,859,369 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of BrightSpring Health Services by 13.4% in the 4th quarter. Invesco Ltd. now owns 10,595,232 shares of the company's stock valued at $396,791,000 after acquiring an additional 1,248,107 shares during the period.

Insider Buying and Selling

In other news, insider Jon B. Rousseau sold 130,000 shares of the company's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $58.75, for a total transaction of $7,637,500.00. Following the sale, the insider owned 1,194,503 shares of the company's stock, valued at approximately $70,177,051.25. This represents a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lisa A. Nalley sold 35,000 shares of the company's 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 directly owned 131,948 shares in the company, valued at $7,751,945. This represents a 20.96% decrease in their position. The SEC filing for this sale provides additional information. 2.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

BTSG has been the topic of several recent analyst reports. BTIG Research upped their price objective on shares of BrightSpring Health Services from $65.00 to $90.00 and gave the stock a "buy" rating in a report on Monday, June 22nd. TD Cowen lifted their target price on shares of BrightSpring Health Services from $65.00 to $81.00 and gave the company a "buy" rating in a report on Thursday, June 18th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $60.00 target price on shares of BrightSpring Health Services in a research report on Monday, May 4th. BMO Capital Markets set a $70.00 price target on BrightSpring Health Services in a research note on Thursday, May 21st. Finally, Wall Street Zen lowered BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $70.12.

BrightSpring Health Services Stock Down 4.3%

Shares of BTSG opened at $69.37 on Thursday. The stock has a market capitalization of $13.69 billion, a PE ratio of 49.20, a P/E/G ratio of 0.92 and a beta of 1.79. BrightSpring Health Services, Inc. has a 1 year low of $19.01 and a 1 year high of $73.75. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.38 and a current ratio of 1.74. The company's 50-day simple moving average is $66.05 and its 200-day simple moving average is $51.55.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.29 by $0.10. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.39 billion. BrightSpring Health Services had a net margin of 2.27% and a return on equity of 14.63%. The business's revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.14 earnings per share. Analysts forecast that BrightSpring Health Services, Inc. will post 1.7 earnings per share for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.