T. Rowe Price Investment Management Inc. Purchases 4,189,805 Shares of BrightSpring Health Services, Inc. $BTSG

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. lifted its stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 264.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,772,772 shares of the company's stock after acquiring 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 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Northern Trust Corp boosted its stake in BrightSpring Health Services by 5.8% in the 1st quarter. Northern Trust Corp now owns 566,623 shares of the company's stock worth $10,250,000 after purchasing an additional 31,289 shares during the period. Fox Run Management L.L.C. acquired a new stake in BrightSpring Health Services in the 1st quarter worth $656,000. Informed Momentum Co LLC acquired a new stake in shares of BrightSpring Health Services during the 1st quarter valued at about $3,237,000. Nuveen LLC acquired a new position in BrightSpring Health Services in the first quarter valued at about $29,333,000. Finally, Invesco Ltd. raised its stake in shares of BrightSpring Health Services by 41.0% in the first quarter. Invesco Ltd. now owns 6,172,597 shares of the company's stock worth $111,662,000 after acquiring an additional 1,794,035 shares during the last quarter.

Insider Activity

In related news, major shareholder Phoenix Aggregator L.P. Kkr sold 2,100,000 shares of the business's 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 transaction, the insider owned 77,096,337 shares in the company, valued at approximately $1,630,587,527.55. The trade was a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jon B. Rousseau sold 531,840 shares of the 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 $25,754,892.75. The trade was a 30.99% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,919,941 shares of company stock worth $337,025,856. 3.40% of the stock is owned by company insiders.

BrightSpring Health Services Stock Performance

Shares of NASDAQ:BTSG traded up $0.06 during mid-day trading on Wednesday, reaching $24.03. 217,034 shares of the company traded hands, compared to its average volume of 2,059,864. The firm has a market cap of $4.26 billion, a PE ratio of 77.55 and a beta of 2.25. BrightSpring Health Services, Inc. has a 52 week low of $12.35 and a 52 week high of $25.57. The company's 50 day moving average price is $21.65 and its 200-day moving average price is $20.51. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.76 and a quick ratio of 1.34.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. BrightSpring Health Services had a return on equity of 9.29% and a net margin of 0.55%.The company had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the prior year, the company posted $0.10 EPS. BrightSpring Health Services's quarterly revenue was up 15.3% on a year-over-year basis. BrightSpring Health Services has set its FY 2025 guidance at EPS. On average, equities analysts expect that BrightSpring Health Services, Inc. will post 0.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BTSG has been the subject of a number of analyst reports. Mizuho set a $26.00 price objective on shares of BrightSpring Health Services in a report on Monday, May 5th. Cowen reaffirmed a "buy" rating on shares of BrightSpring Health Services in a research report on Monday, August 4th. Wall Street Zen downgraded shares of BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. Wells Fargo & Company raised their price objective on shares of BrightSpring Health Services from $25.00 to $27.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. Finally, Morgan Stanley lifted their price objective on shares of BrightSpring Health Services from $20.00 to $25.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $25.67.

BrightSpring Health Services Company 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.