BrightSpring Health Services, Inc. $BTSG Shares Bought by Northern Trust Corp

Key Points

• Northern Trust Corp increased its holdings in BrightSpring Health Services by 5.8%, acquiring an additional 31,289 shares during the first quarter, bringing its total ownership to 566,623 shares valued at $10.25 million.
• BrightSpring Health Services reported a strong quarterly earnings performance, with an EPS of $0.22, exceeding estimates, and a revenue of $3.15 billion, which was significantly higher than analyst expectations.
• Insider activity revealed that major shareholder Phoenix Aggregator L.P. sold 2.1 million shares, while insiders overall sold nearly 16 million shares within the last 90 days.

Northern Trust Corp raised its holdings in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 5.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 566,623 shares of the company's stock after acquiring an additional 31,289 shares during the quarter. Northern Trust Corp owned 0.33% of BrightSpring Health Services worth $10,250,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BTSG. Invesco Ltd. lifted its holdings in BrightSpring Health Services by 41.0% in the first quarter. Invesco Ltd. now owns 6,172,597 shares of the company's stock valued at $111,662,000 after acquiring an additional 1,794,035 shares during the period. Nuveen LLC purchased a new position in shares of BrightSpring Health Services in the first quarter valued at $29,333,000. Vanguard Group Inc. increased its position in shares of BrightSpring Health Services by 24.6% in the first quarter. Vanguard Group Inc. now owns 6,633,744 shares of the company's stock valued at $120,004,000 after buying an additional 1,308,651 shares in the last quarter. Sea Cliff Partners Management LP increased its position in shares of BrightSpring Health Services by 49.1% in the fourth quarter. Sea Cliff Partners Management LP now owns 1,735,150 shares of the company's stock valued at $29,550,000 after buying an additional 571,437 shares in the last quarter. Finally, Integral Health Asset Management LLC increased its position in shares of BrightSpring Health Services by 90.0% in the fourth quarter. Integral Health Asset Management LLC now owns 950,000 shares of the company's stock valued at $16,178,000 after buying an additional 450,000 shares in the last quarter.

BrightSpring Health Services Trading Up 0.2%

BrightSpring Health Services stock opened at $24.13 on Friday. The stock has a market cap of $4.27 billion, a PE ratio of 77.84 and a beta of 2.27. The stock has a 50-day moving average price of $21.84 and a 200 day moving average price of $20.63. BrightSpring Health Services, Inc. has a 52 week low of $12.74 and a 52 week high of $25.57. The company has a current ratio of 1.76, a quick ratio of 1.34 and a debt-to-equity ratio of 1.43.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.03. The firm had revenue of $3.15 billion during the quarter, compared to analysts' expectations of $2.99 billion. BrightSpring Health Services had a return on equity of 9.29% and a net margin of 0.55%.The firm's quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 EPS. BrightSpring Health Services has set its FY 2025 guidance at EPS. Equities research analysts predict that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BTSG shares. Wall Street Zen cut BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Morgan Stanley raised their price target on BrightSpring Health Services from $20.00 to $25.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Cowen restated a "buy" rating on shares of BrightSpring Health Services in a research report on Monday, August 4th. TD Cowen started coverage on BrightSpring Health Services in a research report on Monday, June 23rd. They issued a "buy" rating and a $37.00 price target for the company. Finally, Wells Fargo & Company raised their price target on BrightSpring Health Services from $25.00 to $27.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $25.67.

Insider Activity

In other BrightSpring Health Services news, major shareholder Phoenix Aggregator L.P. Kkr sold 2,100,000 shares of BrightSpring Health Services stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $21.15, for a total value of $44,415,000.00. Following the completion of the sale, the insider owned 77,096,337 shares in the company, valued at $1,630,587,527.55. The trade was a 2.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jon B. Rousseau sold 531,840 shares of BrightSpring Health Services stock in a transaction dated 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 $25,754,892.75. This trade represents a 30.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,919,941 shares of company stock valued at $337,025,856 in the last 90 days. 3.40% of the stock is owned by company insiders.

About BrightSpring Health Services

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.

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