BrightSpring Health Services, Inc. $BTSG Shares Acquired by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. has significantly increased its stake in BrightSpring Health Services by 264.7%, owning over 5.7 million shares worth approximately $104.4 million.
• Analyst ratings for BrightSpring Health Services have been mostly positive, with a majority giving it a Buy rating and average target price of $25.67.
• BrightSpring reported better-than-expected quarterly results, with earnings per share at $0.22, exceeding estimates and reflecting a 15.3% increase in revenue year-over-year.

T. Rowe Price Investment Management Inc. raised its position in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 264.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,772,772 shares of the company's stock after buying an additional 4,189,805 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 3.31% of BrightSpring Health Services worth $104,430,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BTSG. Quarry LP purchased a new position in shares of BrightSpring Health Services in the 4th quarter worth approximately $29,000. IFP Advisors Inc boosted its holdings in shares of BrightSpring Health Services by 273,666.7% in the 1st quarter. IFP Advisors Inc now owns 8,213 shares of the company's stock worth $149,000 after purchasing an additional 8,210 shares during the period. Highland Capital Management LLC purchased a new position in shares of BrightSpring Health Services in the 1st quarter worth approximately $181,000. Envestnet Asset Management Inc. purchased a new position in shares of BrightSpring Health Services in the 4th quarter worth approximately $188,000. Finally, Numerai GP LLC purchased a new position in shares of BrightSpring Health Services in the 4th quarter worth approximately $252,000.

Insider Transactions at BrightSpring Health Services

In other news, 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 sale, the insider owned 1,184,133 shares in the company, valued at $25,754,892.75. This trade represents a 30.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Phoenix Aggregator L.P. Kkr sold 13,288,101 shares of BrightSpring Health Services stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $21.15, for a total transaction of $281,043,336.15. Following the completion of the sale, the insider owned 79,671,883 shares in the company, valued at approximately $1,685,060,325.45. This trade represents a 14.29% 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 ninety days. 3.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Cowen reiterated a "buy" rating on shares of BrightSpring Health Services in a report on Monday, August 4th. Wall Street Zen cut BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. TD Cowen assumed coverage on BrightSpring Health Services in a report on Monday, June 23rd. They issued a "buy" rating and a $37.00 target price for the company. Morgan Stanley raised their price target on BrightSpring Health Services from $20.00 to $25.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Finally, Wells Fargo & Company raised their price target 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. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, BrightSpring Health Services has an average rating of "Moderate Buy" and an average target price of $25.67.

BrightSpring Health Services Stock Performance

Shares of BTSG stock traded up $0.91 on Friday, hitting $24.87. The company had a trading volume of 2,847,327 shares, compared to its average volume of 2,625,257. The firm has a market cap of $4.41 billion, a P/E ratio of 33.61 and a beta of 2.25. The company has a 50-day moving average price of $21.54 and a 200-day moving average price of $20.47. The company has a quick ratio of 1.34, a current ratio of 1.76 and a debt-to-equity ratio of 1.43. BrightSpring Health Services, Inc. has a twelve month low of $11.96 and a twelve month high of $25.57.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.03. The business 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 company's revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 EPS. BrightSpring Health Services has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current fiscal year.

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.