BrightSpring Health Services, Inc. (NASDAQ:BTSG) Shares Sold by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. reduced its holdings in BrightSpring Health Services by 36.8%, currently owning approximately 0.21% of the company, valued at $6.5 million.
• Wall Street analysts have given BrightSpring Health Services a consensus rating of "Moderate Buy" with an average target price of $24.90, with several firms raising their price targets.
• Insider transactions showed significant sell-offs, including Jon B. Rousseau selling 531,840 shares and major shareholder Phoenix Aggregator L.P. selling over 13 million shares, impacting their ownership percentages.

Federated Hermes Inc. trimmed its position in BrightSpring Health Services, Inc. (NASDAQ:BTSG - Free Report) by 36.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 361,940 shares of the company's stock after selling 210,496 shares during the quarter. Federated Hermes Inc. owned about 0.21% of BrightSpring Health Services worth $6,547,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. American Century Companies Inc. lifted its holdings in shares of BrightSpring Health Services by 8.8% in the 4th quarter. American Century Companies Inc. now owns 92,893 shares of the company's stock worth $1,582,000 after acquiring an additional 7,505 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of BrightSpring Health Services in the 4th quarter worth approximately $206,000. Vanguard Group Inc. lifted its holdings in shares of BrightSpring Health Services by 5.3% in the 4th quarter. Vanguard Group Inc. now owns 5,325,093 shares of the company's stock worth $90,686,000 after acquiring an additional 268,132 shares during the last quarter. Norges Bank acquired a new position in shares of BrightSpring Health Services in the 4th quarter worth approximately $26,065,000. Finally, Geode Capital Management LLC lifted its holdings in shares of BrightSpring Health Services by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,311,204 shares of the company's stock worth $22,335,000 after acquiring an additional 6,990 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of BrightSpring Health Services from $20.00 to $25.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. 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. TD Cowen assumed coverage on shares of BrightSpring Health Services in a research note on Monday, June 23rd. They set a "buy" rating and a $37.00 target price on the stock. Wells Fargo & Company upped their target price on shares of BrightSpring Health Services from $25.00 to $27.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 13th. Finally, Mizuho set a $26.00 target price on shares of BrightSpring Health Services in a research note on Monday, May 5th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $24.90.

Insider Transactions at BrightSpring Health Services

In other news, insider Jon B. Rousseau sold 531,840 shares of the 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 transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Phoenix Aggregator L.P. Kkr sold 13,288,101 shares of the firm's 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 transaction, the insider owned 79,671,883 shares of the company's stock, valued at $1,685,060,325.45. This trade represents a 14.29% decrease in their ownership of the stock. 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 quarter. Insiders own 3.40% of the company's stock.

BrightSpring Health Services Stock Down 4.9%

Shares of NASDAQ:BTSG opened at $19.64 on Monday. BrightSpring Health Services, Inc. has a 1-year low of $10.15 and a 1-year high of $25.57. The stock has a market cap of $3.45 billion, a P/E ratio of 63.36 and a beta of 2.25. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.73 and a quick ratio of 1.37. The firm has a fifty day moving average price of $21.89 and a 200 day moving average price of $20.51.

BrightSpring Health Services (NASDAQ:BTSG - Get Free Report) last released its earnings results on Friday, August 1st. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03. BrightSpring Health Services had a net margin of 0.55% and a return on equity of 9.42%. The company had revenue of $3.15 billion during the quarter, compared to analysts' expectations of $2.99 billion. During the same quarter last year, the business earned $0.10 EPS. The business's revenue was up 15.3% on a year-over-year basis. Sell-side analysts predict that BrightSpring Health Services, Inc. will post 0.59 EPS for the current year.

BrightSpring Health Services 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.

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