Price T Rowe Associates Inc. MD Sells 178,409 Shares of BrightSpring Health Services, Inc. $BTSG

Key Points

• Price T Rowe Associates Inc. MD decreased its stake in BrightSpring Health Services by 6.6%, selling 178,409 shares, and now owns approximately 1.45% of the company.
• Major shareholder Phoenix Aggregator L.P. Kkr sold over 13 million shares, reducing their ownership by 14.29% and realizing approximately $281 million from the transaction.
• BrightSpring Health Services reported earnings of $0.22 per share, exceeding estimates, with a revenue increase of 15.3% year-over-year in their latest financial results.

Price T Rowe Associates Inc. MD decreased its stake in shares of BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 6.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,520,220 shares of the company's stock after selling 178,409 shares during the period. Price T Rowe Associates Inc. MD owned 1.45% of BrightSpring Health Services worth $45,592,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BTSG. T. Rowe Price Investment Management Inc. lifted its holdings in BrightSpring Health Services by 264.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,772,772 shares of the company's stock worth $104,430,000 after purchasing an additional 4,189,805 shares in the last quarter. Invesco Ltd. raised its holdings in shares of BrightSpring Health Services by 41.0% in the 1st 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 in the last quarter. Nuveen LLC purchased a new stake in shares of BrightSpring Health Services in the 1st quarter valued at about $29,333,000. Vanguard Group Inc. raised its holdings in shares of BrightSpring Health Services by 24.6% in the 1st quarter. Vanguard Group Inc. now owns 6,633,744 shares of the company's stock valued at $120,004,000 after acquiring an additional 1,308,651 shares in the last quarter. Finally, Sea Cliff Partners Management LP raised its holdings in shares of BrightSpring Health Services by 49.1% in the 4th quarter. Sea Cliff Partners Management LP now owns 1,735,150 shares of the company's stock valued at $29,550,000 after acquiring an additional 571,437 shares in the last quarter.

BrightSpring Health Services Price Performance

BTSG traded up $0.19 during midday trading on Tuesday, hitting $23.88. The stock had a trading volume of 1,545,004 shares, compared to its average volume of 1,949,945. The company has a market cap of $4.23 billion, a P/E ratio of 77.03 and a beta of 2.27. The business has a fifty day moving average of $21.78 and a 200 day moving average of $20.57. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.34 and a current ratio of 1.76. BrightSpring Health Services, Inc. has a 1 year low of $12.35 and a 1 year high of $25.57.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.15 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period last year, the company earned $0.10 EPS. BrightSpring Health Services's revenue for the quarter was up 15.3% compared to the same quarter last year. BrightSpring Health Services has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that BrightSpring Health Services, Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Activity at BrightSpring Health Services

In related news, insider Jon B. Rousseau sold 531,840 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $21.75, for a total transaction of $11,567,520.00. Following the transaction, the insider directly owned 1,184,133 shares in the company, valued at $25,754,892.75. This trade represents a 30.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Phoenix Aggregator L.P. Kkr sold 13,288,101 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $21.15, for a total value of $281,043,336.15. Following the transaction, the insider owned 79,671,883 shares in the company, valued at approximately $1,685,060,325.45. The trade was a 14.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BTSG. Cowen reaffirmed a "buy" rating on shares of BrightSpring Health Services in a report on Monday, August 4th. 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 report on Tuesday, May 13th. TD Cowen began coverage on BrightSpring Health Services in a report on Monday, June 23rd. They issued a "buy" rating and a $37.00 price target on the stock. Mizuho set a $26.00 price target on BrightSpring Health Services in a report on Monday, May 5th. Finally, Wall Street Zen cut BrightSpring Health Services from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.